Korean companies invest in support industry at Saigon Hi-Tech Park

The management board of the Saigon Hi-Tech Park (SHPT) yesterday morning granted two South Korean businesses investment certificates to build their plants in support industry field.

They are members of the global supply chain of Samsung Electronics Group. Daihan Climate Control Company will build a plant making heat exchanges used for manufacturing air conditioners and refrigerators.

With a total capital of US$32 million, the plant is expected to supply two million products a year after going into operation.

The second project is an electronics and information technology component plant of Intops Vietnam Limited Company. The US$80 million plant is expected to supply 6.5 million products a year.

The Saigon Hi-Tech Park has so far licensed five support industry companies including four foreign and one Vietnamese.

Its management board has asked investors to build plans and do research and development activities to boost local supply chain. Projects in the support industry are required to increase localization rate to 35 percent at least after being implemented for 3-5 years. 

By Tuong Han – Translated by Hai Mien

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