Last updated: 18/05/2015, 10:04 SA - View: 2231
In 27th March, 2014, the Opening Ceremony of LG Hai Phong technology complex was held on Trang Due Industrial Park, Hai Phong City. The Vietnam’s President Truong Tan Sang participated in the inauguration of the complex.
The total investment of project LG Hai Phong technology complex is 1.5 billion USD. The complex located in the total 800,000m2 at Trang Due Industrial Park, Hai Phong province. The project was divided into three investment phases. In the beginning period, LG group will concentrate to produce and assemble the main products such as digital technology appliances for car, mobile phone, TV, washing machine, air conditioner, vacuum cleaner and so on. In the first-5 year, 70 percent of products will be exported in expectation.
At the Opening Ceremony, Mr. Bon-joon Koo – Vice President and CEO of LG group stated that: “This is the important event marking 20 years development of LG group in Vietnam. The new complex in Haiphong will play an important role in LG group’s global produce strategy”.
With the new complex opening, LG group commits enhancing technology transfer, promoting the development and modernization of Vietnam electronic industry with the localization rate of products is expected to 50% in the first period of the investment package. At the same time, LG group will consult, transfer to LG’s partners (the auxiliary factories) the modern/update production management process in order to ensure the productive and quality to meet the material supply requirements, auxiliary equipment for LG’s factory, through which to promote the auxiliary/support industry development in Vietnam.
The LG’s factory complex project is forecasted to be an motivation to strongly attract the direct foreign investment (FDI) into Hai Phong City, which contribute to the economic restructure, to create employments for thousands of local workers as well as workers in surrounding provinces aims to get the Hai Phong’s socio-economic growth and development target.