Lotte Group chaiman visits Vietnam to speed up progress of big projects

Chairman of HCMC People’s Committee Nguyen Thanh Phong yesterday afternoon received Mr. Shin Dong Bin, chairman of South Korean Lotte Group, during his visit to Vietnam to speed up the progress of some big projects in Hanoi and HCMC.

Lotte has strongly invested in Vietnam in retail field (Photo: SGGP)

Lotte has strongly invested in Vietnam in retail field (Photo: SGGP)

At the reception, chairman Nguyen Thanh Phong appreciated Lotte’s investment in Vietnam in general and HCMC in particular. Last year, the group signed an investment cooperation worth US$1 billion in Eco Smart City project at Thu Thiem new urban area. That will be a key project standing for the cooperation between HCMC and Lotte.
According to Mr. Shin Dong Bin, so far the group has attracted 2,000 Vietnamese workers. Its invesment capital in Vietnam has totaled VND40 trillion (US$1.72 billion).
Some big projects are being implemented in Hanoi and HCMC. Lotte has pledged to apply advanced and environmentally friendly technologies in its projects in Vietnam.
Since 2011, Lotte has continuously hosted Vietnamese Goods Fair in South Korea to introduce Vietnamese products to Korean consumers. The group has paid attention to talent development, invested in some startup projects in Vietnam and organized a scholarship fund to assist good disadvantageous students.
In the group’s next five years plan, Lotte will invest about US$44 billion in potential markets in Southeast Asia including Vietnam. Of the total investment capital, chemical and construction will account for 40 percent, retail 25 percent, tourism and service 25 percent and food 10 percent.

By THUY HAI – Translated by Hai Mien

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