ENHANCING GOVERNMENT INVESTMENT PROMOTION TO ATTRACT KOREA ENTERPRISES

From July 23th to 27, 1974, DIC’s investment promotion delegation led by Mr. Nguyen Thien Tuan, Chairman of DIC Corp, conducted a field survey to explore the capacity of investment cooperation of several potential partners in Korea.

On this occasion, the delegation had a direct survey of aquarium projects conducted by General Aqua (GA) in term of consultancy, investment, management and operation. These projects have the same size and nature as the Aquarium Project which will be built in Vung Tau City in the coming time.

DIC and GA had a meeting to talk and discuss contents related to investment cooperation to set up a joint venture. At the end of the meeting, the related parties signed the minutes of the founding shareholders' meeting on the establishment of DIG Aquarium Vietnam Joint Stock Company.

Representatives of DIC and GA signed the minutes of the founding shareholders' meeting.

Under this agreement, founding shareholders include: DIC Corp; DIC T & T and GA will agree to jointly contribute capital to establish DIG Aquarium Vietnam Joint Stock Company for the purpose of construction investing, exploiting and trading Aquaculture Project (Vung Tau City). Accordingly, the main businesses of the company are construction; accommodation and catering services; real estate business; art; entertainment and recreation with the total charter capital is VND225 billion (equivalent to approximately $10 million).

The perspective of Aquarium Project in Vung Tau City.

As part of the mission, at the meeting with Kang Won Co., Ltd., the two parties agreed on the scale of investment, functional orientation, planning to make the investment plan in the Dai Phuoc Eco-Tourism Urban Area Project (Nhon Trach District, Dong Nai Province). Expected in the fourth quarter of 2017, DIC and Kang Won will sign cooperation contract to invest Commercial Complex, Office, Hotel, Resort project of the Dai Phuoc Project.

Korea is currently the largest foreign investor in Vietnam with a total investment capital of $50 billion. Vietnam in general and Ba Ria-Vung Tau Province in particular is becoming an attractive business destination and a potential market for Korean enterprises and increasingly developing thanks to the Korea Government's investment incentive policies. In line with the trend of international cooperation, DIC continues to promote many investment promotion programs for Korean enterprises with strong financial capacity.