Photo: Duc Anh
Authorities from northern province met recently with Seoul Semiconductor Company on location and investment scale.
A South Korean company is planning to invest in an LED lighting plant in northern Ha Nam province with total investment of an estimated $300 million.
The Seoul Semiconductor Company (SSC) met with leaders of the Ha Nam Provincial People’s Committee on July 15 to propose the project and were recommended that the plant be located at the Dong Van Industrial Zone.
A senior official from the Ha Nam Industrial Zone Authority (HIZA) confirmed with VET on July 20 that the South Korean investor sought 7.5 ha of land at the industrial zone.
The South Korean investor has only expressed an interest at this point in time and no concrete details are available. “They promised to get back to us on July 29,” said Ms. Truong Le Thanh from HIZA.
Ha Nam province expects to officially announce the project in early August, she added.
VET was unable to approach the South Korean investor for comment.
The plant will specialize in producing products such as semiconductors and LED lights and components and is expected to employ some 3,000 workers, primarily local residents.
During the meeting with SSC, Mr. Nguyen Xuan Dong, Chairman of the Provincial People’s Committee, vowed to provide strong support and favorable conditions for the project.
Vietnam has seen significant growth in the LED industry over the last few years thanks to the rapid transfer from traditional lighting to LED. LED technology has been used mostly in the advertisement-lighting industry.
The Rang Dong Light and Vacuum Flask Company is Vietnam’s largest LED lighting manufacturer in terms of market share and brand popularity. Other LED manufacturers include the Ho Chi Minh City-based Fawookidi Vietnam Technology Corporation and Neo-neon in northern Thai Binh province.
SSC’s major business fields are semiconductor devices and LED products for energy saving, lighting and the electronics and telecommunications industries. If the project goes ahead it will be the largest ever investment project from South Korea in Ha Nam province.
Ha Nam shares a border with Hanoi to the north and northwest, has an area of 862 sq km, and a population of over 800,000 people. Registered FDI stood at $1.4 billion in 165 projects as at the end of 2015, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI).
The Dong Van Industrial Zone, some 40 km from the center of Hanoi, has attracted many investors. Fifty-nine companies operate at the industrial zone with total investment of $197 million, of which 20 are foreign-invested enterprises from South Korea, Singapore, Taiwan, China and elsewhere.