The Government of Vietnam always creates favourable conditions for Korean firms, including the Hyosung Group, to invest in the country, said Prime Minister Nguyen Xuan Phuc.

Prime Minister Nguyen Xuan Phuc presents a gift to Chairman of the Hyosung Group Cho Hyun-joon.

While receiving Chairman of the Hyosung Group Cho Hyun-joon in Hanoi on February 8, PM Phuc agreed to soon organise a forum to attract more investors from the Republic of Korea (RoK) to Vietnam as suggested by Cho.

He praised Hyosung as one of the biggest Korean investors in Vietnam, which has operated many important projects in all three regions of the country.

The PM suggested Hyosung to join as a strategic investor of Vietnam’s electricity transformer factory and urged the group to pay due attention to environmental protection when carrying out projects.

Cho said the Hyosung Group is striving to bring its total investment in Vietnam up to 6 billion USD, adding that the group is planning to invest in electricity projects in Vietnam, particularly by supplying high voltage power transformers which are sought after in the country.

The group wants to partner with and transfer technologies to Vietnamese manufacturers of power transformers so as to make Vietnam an exporter of the product, he said. 

Hyosung is a leading producer of all classes of power transformers, ranging up to 765kV in the RoK. Its products have been available in 70 countries and territories across the globe.-VNA