On July 19, 2013, Vinh Phuc’s delegation continuing investment promotion activities in Korea

This activity is to implement Vinh Phuc’s renovation policy and improve the effectiveness of the province’s investment promotion activities, specifically directly contacting with investors to actively provide the information about the province’s investment climate and investment attracting policies, also listening to investors’ expectations to adjust the province’s mechanism and policies appropriately.

G.O.Max Corporation has made the project “Manage and run business for International Racecourse and relevant entertainment – sport items in Vinh Phuc, Vietnam” since 2006. The selected location is Cao Minh commune, Phuc Yen town and Ba Hien commune, Binh Xuyen district. The total used area is 170 hectares with the registered capital of USD570 million. The project’s construction is expected to be implemented within 36 months. It is expected to provide stable jobs for 1,000 laborers and remit the State budget of USD100 million after putting into the operation. This project is in a new service type with sensitivity. Because of betting, gambling activities, the project must ask for numerous ministries’ opinions and wait for the government’s decrees on betting business with fully legal framework to operate. After nearly 7-year waiting, G.O.Max’s representatives had confirmed to continue the investment in Vinh Phuc when working with the province’s investment promotion delegation. The delegation’s Head informed that currently several qualified foreign investors were interested in this project, so required G.O.Max’s representatives to submit the commitment writing on continuing the project’s implementation. He said that the province’s perspective was consistent and promised to provide the most favorable conditions to deploy the project in the soonest time.

Vinh Phuc’s delegation visited KRA Racecourse of G.O.Max Corporation

Heasung Optics Limited Liability Company (Heasung Optics Co., Ltd.), being established in 1988, specializes in manufacturing, trading and exporting parts of optical devices, lens, electrical components and rental service of real estate. The company’s head office is located in Gyeonggi-do province, Korea. In recent years, the company has set the record in its productivity and sales, specifically Won30 billion in 2011, Won60 billion in 2012 and expecting to reach Won130 billion in 2013. The company has two manufacturing places in Gyeonggi-do province including one for glass camera for telephone and one for plastic camera for automobile. The company has had an investment project in China on producing optical glasses, monitoring camera and glass camera for automobile with the used labor quantity of 130. In Vietnam, the company has invested a project on producing camera’s module for Samsung Corporation and Korea, being granted the first time certificate on March 25, 2013 by the Management Board of Industrial Zones. The plant is located in Khai Quang Industrial Zone with the area of 3.5 hectares, the original capital of USD13 million, the productivity of 25 millions of products per annum and the labor quantity of 800. After the two-year operation and development with high speed, the company had decided to expand the production, adjust the capital increase of USD23 million, expand the area twofold, attract more 800 laborers and promptly invest in the construction of the second plant in the first quarter of 2013 in Vinh Phuc, Vietnam. In the working session with the province’s investment promotion delegation, the company’s representatives showed that they have been investigating a number of high-tech products such as camera for 3D screen, supermini camera for endoscopy and have intended to establish the research centre, probably in Vietnam. Also, the company’s representatives proposed Vinh Phuc side to solve difficulties for projects in Vinh Phuc, Vietnam. Power cut without an early announcement, low export tax refund procedures are typical examples, which has done enterprises damage. They proposed to decentralize the solution to these problems. Head of Vinh Phuc’s delegation congratulated on the company’s achievements in the past, appreciated the role of projects in Vinh Phuc in the province’s socio-economic development; also were open to the company’s contribution and proposals to coordinate with Vietnam’s specialized agencies to resolve and remove difficulties for enterprises.

Vinh Phuc’s investment promotion delegation took commemorative photographs with the Chairman of Heasung Optics Co., Ltd. (the person standing at the right hand side of Mr. Nguyen The Truong)

Sindoh Limited Liability Company (Sindoh Co., Ltd.), being established in 1960, has the head office in Seoul city. The company specializes in producing high-tech business machines (photocopier, printer, image scanner, fax machine, etc). In 2012, the company’s export turnover is USD7.343 billion with the used labor quantity of about 4,000 people in South Korea, America and China. In 2002, the company invested in a production project in China with the land use area of 30 hectares, the productivity of 1 million of products per annum. Since the establishment, the company has been awarded six highest prizes for enterprises by South Korean government and President.

Vinh Phuc’s investment promotion delegation listened to the introduction of Sindoh’s representative about the company’s largely-sized high-grade printer with the value of VND15 billion

Toward the 55-year-establishment ceremony(1960-2015), the representatives of Sindoh Co., Ltd. said that they had decided to make the investment project in Vietnam with the similar scale to the project in China. The company’s representatives proposed Vinh Phuc province to provide the information about the province’s advantages in comparison with those of provinces, cities near Hanoi area and along National Highway 5 and 18 such as Bac Ninh, Hung Yen, Hai Duong, Hai Phong. Also, they proposed us to introduce 3 investment methods in 3 Industrial Zones with an area of 3.5 hectares, a minimum width of 100 m, convenient transportation, proper infrastructure and appropriate space for the factory’s expansion in the next periods in order that they consider the selection of one investment project in an industrial zone. In the latter half of August, 2013, the company should send a delegation to Vietnam to conduct an actual survey.

The Head of Vinh Phuc’s delegation – Mr. Nguyen The Truong congratulated on the company’s achievements during over 53 past years, expressed thanks for the company’s thoughtful and enthusiastic welcome; also, affirmed that Vinh Phuc side was willing to meet fully the company’s information requirements and hoped to welcome the delegation of Sindoh Co., Ltd. to Vinh Phuc province in August, 2013./.