VietNamNet Bridge – The Korea – Vietnam Incubator Park (KVIP), which will help tap agricultural advantages and potential of the farming hub - Mekong Delta region, is set to be inaugurated in Can Tho City on November 14.

A perspective of the Korea – Vietnam Incubator Park (Photo: baodientu.chinhphu.vn)

The KVIP, built at a cost of over 21 million USD, covers more than 13,000 square metres in the Tra Noc II Industrial Park in Phuoc Thoi ward of Can Tho’s O Mon district.

It is able to accommodate 40 foreign and domestic businesses specialising in agriculture, aquaculture, processing and related manufacturing engineering, Director of the Can Tho Department of Industry and Trade Nguyen Minh Toai said on November 12.

In particular, it will help small- and medium-sized enterprises research, develop and renovate technologies and train personnel.

Firms at the KVIP will benefit from a number of favourable policies pertaining to product and technology development, the official said, adding that more land and tax-related incentives will be provided if they continue running after their three-year stay.

Toai noted two Vietnamese businesses and another from the Republic of Korea have completed procedures for operating in the incubator park.    

VNA