Korea-Vietnam Incubator Park on track to open in 2015
(VOV) - A 12 member-council to oversee the start-up of the Korea-Vietnam Incubator Park (KVIP) and the installation of its cutting edge state-of-the-art machinery and equipment was ceremoniously established on September 23.
Speaking at the ceremony, Vice Chairman of Can Tho City People's Committee Truong Quang Hoai Nam said the KVIP aims to improve the competitive capacity for the entire Mekong Delta region.
To date, the project is 40% complete and slated to commence operations in early June 2015. From now until the first quarter of 2015, the Republic of Korea (RoK) will focus on training Vietnamese workers.
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Kim Hee Sup, KVIP General Director, in turn said the project aims to build a modernised industrial complex in the rice, seafood and agricultural mechanics sectors capable of competing on a equal basis with nations around the globe.
The immediate goals are to improve price competitiveness by gaining efficiencies with the installation of modern technologies and equipment along with enticing increased investment in the rice processing sector and expanding exports of differing seafood products.
In addition, the KVIP project will help the agricultural mechanics sector in the longer term to increase the localisation rate of “Made in Vietnam” products to over 95% over the next ten years, he said.
According to the Can Tho Department of Industry and Trade, the KVIP has total investment capital of over US$21 million with US$17.7 million sourced from the RoK and the remainder from the Vietnamese Government.