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Hyosung plans to pour additional US$2 billion in Viet Nam this year

VGP – South Korean industrial conglomerate Hyosung planned to increased investment capital in Viet Nam by US$2 billion this year, said Hyosung Vice Chairman Cho Huyn-sang.

January 18, 2024 2:35 PM GMT+7
Hyosung plans to pour additional US$2 billion in Viet Nam this year- Ảnh 1.

Prime Minister PHam Minh Chinh and leaders of business giants in Davos, Switzerland, January 17, 2024. Photo: VGP

Cho made the above announcement during his a roundtable discussion between Prime Minister Pham Minh Chinh and foreign investors in Davos, Switzerland on January 17.

Hyosung has invested US$3.5 billion in Viet Nam's major industrial hubs like Ha Noi, Ho Chi Minh City, Dong Nai, and Ba Ria-Vung Tau, creating more than 9,000 jobs for local residents.

The Vietnamese Government has showed strong and effective leadership while local authorities have actively provided support and Vietnamese workers are diligent and serious, noted Cho.

Many Korean businesses are also interested in expanding investments in Viet Nam, Cho added.

Founded in 1962, Hyosung is South Korea's leading producer of power transformers for export to 70 countries around the world.