Industrial property company Kinh Bac City (KBC) eyes record profits
Industrial property company Kinh Bac City (KBC) eyes record profits
Industrial real estate developer Kinh Bac City expects post-tax profits to rise by 6.3 times this year to a record VND2 trillion ($86.6 million).
Que Vo Industrial Park operated by Kinh Bac City in Bac Ninh Province, northern Vietnam. Photo courtesy of Kinh Bac City.
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The company, which operates seven industrial parks in the north and one near Ho Chi Minh City, targets a 2.7-fold increase in revenues to VND6.6 trillion.
In January, its industrial parks attracted $1.23 billion worth of foreign investment, or half the country's total FDI.
South Korea’s LG alone accounted for $750 million, investing in the Trang Due Industrial Park in Hai Phong with plans to expand the production of TV screens in May.
Another $270 million came from Taiwanese contract manufacturer Foxconn for production of tablets and laptops in the northern province of Bac Giang.
KBC shares on the Ho Chi Minh Stock Exchange have gained 48 percent this year.
