In the afternoon of Jan 10^th 2017, at the office of Kinhbac City Development Holding Corporation (KBC), In-principle agreement on land sublease signing ceremony between KBC and Hanwha Techwin/Security Business Company – a Korean investor was held solemnly. According to this agreement, Hanwha Techwin/Security Company subleases the land of 6ha in Que Vo IP (expanded area) with the total invested capital of 30 million USD for the first phase and made         a deposit of 40% of the contract value. As the result, in the first quarter of 2017, KBC will earn nearly 100 billion VND from its first project of the new year. This is the first FDI investment project in KBC's IP in 2017 which is a high-tech project. It will promisingly bring a lot of luck and success in this year of 2017.

Mrs. Nguyen Thi Thu Huong – KBC’s General Manager and Mr. Lee Man Seob - Hanwha Techwin/Security’s General Manager together sign MOU

Mr. Nguyen Duc Long - Deputy Head of the Bac Ninh Industrial Zones Management Authority representing the local government; Mr. Seob Lee Man - General Manager of Hanwha Techwin / Security Business representing the company with its senior managers in Korea; Mrs. Nguyen Thi Thu Huong – KBC’s General Manager representing KBC attend and witness the signing ceremony.

In-principle agreement on land sublease between KBC and Hanwha Techwin/Security Business Company

For over a half year of studying the investment environment of many localities in Vietnam, Hanwha Techwin/ Security realized transparent and dynamic business investment environment and synchronous infrastructure with modern supportive mechanisms of Bac Ninh. In particular, after several meetings, gaining support from KBC’s leaders and the survey on current infrastructure meeting the company’s requirement, Que Vo IP was ultimately the option of Hanwha Techwin/ Security which is its first investment project in Vietnam and focuses on manufacturing CCTV cameras, storage devices and high-tech security cameras.

Hanwha Techwin/Security is a subsidiary of Hanwha Techwin Group (Korean) that is known as the 7^th largest group in Korean. Especially, this is the first manufacturing project of Hanwha Group in Vietnam. Hanwha Techwin/Security specializes in manufacturing security devices and is the fifth largest manufacturer of this products. The company has 27 worldwide networks with the total sales of 600 million USD in 2015. Hanwha Techwin/Security plans to start its first factory in Que Vo IP within the first quarter of 2017, with the total invested capital of 30 million USD for the first phase  (2017-2019). The factory will create 1,500-2,000 jobs with the productivity of 2 million products yearly.

Sharing at the signing, Hanwha leaders were confident in the success of Hanwha Techwin in Que Vo IP and confirmed this initial collaboration will create the foundation for other investments of Hanwha Group in Bac Ninh, contributing to the economic development of the province.

KBC leaders thanked Hanwha Techwin Company for its trust on Que Vo park, Bac Ninh province and also pledged to support the company about investment certificate, construction to make everything ready to implement the project.

Representatives from Bac Ninh Industrial Park Management Authority also welcomed and appreciated the first investment project of Hanwha. As the State authority involving in the activities of enterprises in the industrial park, the IP management authority committed to accompany with investors and create favorable conditions in term of administrative procedures for the comapny to go into operation.

After the signing ceremony, Hanwha company’s leaders had a meeting with Deputy Province Committee Secretary, Chairman of Bac Ninh People’s Committee - Nguyen Tu Quynh  at the head office of Bac Ninh People’s Committee. Hanwha’s leaders reported to the Chairman about their investment project in Vietnam and successful signing the In-principle agreement on land sublease in Que Vo IP, Bac Ninh province. They also gave pledges to implement the project soon and believes that the project will succeed under the leadership of the People’s Committee.

The Chairman of Bac Ninh People’s Committee welcomed and congratulated Hanwha company on its project in Bac Ninh. Hanwha and Korean enterprises community contribute to the development of FDI sector in particular and Bac Ninh province in general. Up to now, Korea is the largest investor in Bac Ninh province with the total capital of 10 billion USD out of 13 billion USD of FDI capital in Bac Ninh province which accounts for 70% of total industrial production value of the province. The Chairman made a commitment to support the enterprise and directs the departments to create all favorable conditions for the early project implementation.