Work on expansion of LG Innotek's Hải Phòng factory on right track
Work on expansion of LG Innotek's Hải Phòng factory on right track
A working delegation led by Head of the Hải Phòng Economic Zone Authority (HEZA) Lê Trung Kiên on July 15 inspected the progress of the LG Innotek Hải Phòng factory project - Phase III in the northern port city's Tràng Duệ Industrial Park.
Inspection team from the Hải Phòng Economic Zone Authority conducts a field inspection of the Project. — VNA/VNS Photo |
Park Young-chan, General Director of Zeit C&A Vietnam Co Ltd and site director of the project - Phase III, said that about 1,500 workers are working continuously at the site, properly satisfying regulations on labour safety and fire prevention and control.
As of July 15, about 75 per cent of the workload had been completed as scheduled, he said.
In June last year, LG Innotek Hải Phòng and the municipal People’s Committee signed a Memorandum of Understanding on expanding investment and production at the factory.
On June 26, 2023, the committee presented a certificate to LG Innotek approving its capital adjustment for 2023-25 by US$1 billion, raising its total investment to over $2 billion.
Kiên said the factory expansion will help Hải Phòng become a destination of success for investors.
In the first half of this year, the city's Gross Regional Domestic Product (GRDP) rose by 10.32 per cent compared to the same period last year, ranking 5th among 63 provinces and centrally-run cities nationwide, second in the Red River Delta and first among centrally-run cities.
So far this year, Hải Phòng has attracted over $1.55 billion, making up 77.58 per cent of the yearly target.
With a total of 183 projects worth $11.5 billion, the Republic of Korea (RoK) ranks first among 39 countries and territories investing in the city.
