$21 million Korea-Vietnam Incubator Park to house 40 enterprises in agriculture, aquaculture, and mechanical engineering.
The Korea-Vietnam Incubator Park (KVIP) has been officially opened at the Tra Noc Industrial Zone 2 in O Mon district, Can Tho city.
The project is part of a framework partnership between South Korea and Vietnam regarding industrial, agricultural, and technological capacities. Politburo Member and Chairman of the Vietnam Fatherland Front Central Committee Nguyen Thien Nhan, Minister of Industry and Trade Vu Huy Hoang, South Korean Ambassador to Vietnam H.E. Jun Dae Joo, and Minister of Industry, Trade, and Energy in South Korea Yoon Sang Jick attended the opening ceremony.
Construction of the KVIP began two years ago, on an area of 13,000 sq m with investment of $21.13 million, $17.7 million of which came from South Korea’s official development assistance and remainder from the Vietnamese Government.
The incubator park can accommodate 40 foreign and local enterprises specializing in agriculture, aquaculture, and mechanical engineering.
According to Mr. Vo Thanh Thong, Head of the Can Tho People’s Committee, the aim of the incubator park is to boost research, manufacturing, and foreign investment, particularly from South Korean businesses. Local authorities have committed to providing the best possible incentives to enterprises at the park.
Speaking at the opening ceremony Mr. Nhan sincerely thanked the government and people of South Korea for supporting and cooperating with the Vietnamese Government in recent years. “The opening of the KVIP is a breakthrough for the Mekong Delta in improving the quality of agricultural products and the income of farmers,” he was quoted as saying.
Source image: Vietnam News Agency