HAI PHONG - President Truong Tan Sang made a working visit to Hai Phong yesterday and attended the inauguration of an LG technology complex built at Trang Due Industrial Park.
The complex, part of LG's US$1.5 billion (S$2 billion) project and its largest facility in Southeast Asia, manufactures and assembles hi-tech products such as TV sets, mobile phones, washing machines, air conditioners and digital equipment for automobiles for domestic consumption and export.
Sang said the project demonstrated the effective co-operation between Viet Nam and South Korea.
With the project, South Korea has become the biggest foreign investor in Viet Nam, with total investments of US$7.33 billion and more than 4,000 active businesses.
The same day, Sang received LG Director General Bon Moo-koo, who was in Hai Phong for the inauguration.
As part of his working trip in Hai Phong, Sang visited Company 189 under the Defence Ministry's General Military Industry Department, which builds ships, and produces a range of products for security and defence.
He acknowledged the company's efforts to diversify its products for export and embrace links with foreign shipbuilding partners, especially the Netherlands' Damen Group.
Since 2008, the company has exported about 30 ships to European, Oceanic and African countries.
Sang also inspected the Hai Phong International Seaport construction site on Cat Hai Island. Once completed, the port will be able to handle around 12.8-13.1 million tonnes of goods per year.
It will also serve as an important facilitator of trade activities between northern Viet Nam, Europe and America.