Delegation of Asan city pays fact-finding trip to second factory of Hyundai Thanh Cong Vietnam

The delegation visited production lines and learned about the operation of the factory as well as Ninh Binh's experiences and effectiveness in implementing policies and orientations on attracting investment in industrial production.

The second factory was inaugurated in late 2022. Covering an area of over 50ha and it has a total designed capacity of 100,000 units per year, raising the total capacity of two Hyundai Thanh Cong factories in Vietnam to 180,000 units by 2025.

Representatives of Asan city expressed their joy as the RoK's Hyundai Group built a modern factory in Ninh Binh. They also spoke highly of Ninh Binh's policies in attracting investment and creating favourable conditions for firms to operate and develop.

Hyundai Thanh Cong contributes 50-60% of the province's budget annually. It has also actively taken part in social welfare activities in the province.

In recent years, Ninh Binh has welcomed an increasing number of Korean firms making investment in the province. To date, it is home to over 50 RoK enterprises, focusing on the fields of automobile supporting industry.

Vice Chairman of the Ninh Binh provincial People's Committee Nguyen Cao Son said Ninh Binh is one of the three largest automobile manufacturing hubs in Vietnam.

He hoped that more major groups from the RoK would invest in Ninh Binh, adding that provincial authorities will create favourable conditions in terms of infrastructure, administrative procedures and policies for enterprises.

Translated by Nguyen Thuy