Representatives of LG Electronics and Trung Nam Land JSC have agreed to develop Da Nang into one of the biggest R&D centres in Vietnam (Source: VNA) DaNang (VNS/VNA) – The Republic of Korea (RoK)’s LG Electronics andTrung Nam Land JSC inked an agreement on October 30 with a vision totransform Da Nang into the centre of technology and R&D in Vietnam,creating a mini 'Silicon Valley'.
Theagreement marks LG Electronics' commitment to building its secondR&D centre in Vietnam after just one month of preparation.
TheKorean giant previously signed a Memorandum of Understanding for the firstR&D centre in the city with Da Nang’s Investment Promotion Agency onOctober 6.
Followingthe agreement, LG Electronics will set up the centre at the Da NangInformation Technology Park Tower in Lien Chieu district, creating aspace for software research and production to serve electronicsmanufacturing in Vietnam as well as attracting more subsidiaries ofLG from the RoK to Da Nang and Vietnam.
LGElectronics said it would boost co-operation with universities andvocational colleges in Da Nang to train human resources and high-qualitymanpower for the centre.
Directorof LG Vehicle Component Solution Development centre Jung Seung Min saidthe agreement was the first step in turning Da Nang into a strategiclocation for LG Electronics and boosting R&D after two decades ofinvestment in Vietnam.
“Iam so impressed with the development of Da Nang's leadership vision.It’s the reason we decided to build our second R&D centre inDa Nang after the one we opened in Hanoi four years ago,” Jung Seung Min said.
“Wehope to build Da Nang into the biggest R&D centre for LGElectronics in Vietnam, and a centre of advanced technology,” he said.
NguyenAnh Huy from Trung Nam said the agreement marked the significantco-operation between a local business and Korean partner inturning Da Nang into an attractive destination for globalhigh-tech industries.
Hesaid Trung Nam and LG Electronics would join hands to realise the ‘dream’ ofa ‘Silicon Valley’ in central Vietnam.
Lastweek, Trung Nam began construction of its first surface-mount technology(SMT) factory with a capacity of 6.2 million electronic products per year atthe Da Nang Hi-tech Park.
DaNang has been building the 341ha Da Nang IT Park and calling forbusinesses from Silicon Valley and the US to invest in healthcare,high-tech industries, Artificial Intelligence, education, real estate andautomation.
TwoSilicon Valley-based businesses – Meritronics AMT Inc and Ai20X Silicon Valley– have already agreed to develop the park.
Accordingto the latest report from the city, Da Nang had drawn 868 foreign directinvestment (FDI) projects with total registered capital of 3.5 billion USD.
TheRoK is one of the top five foreign investors in Da Nang with 232projects worth 390 million USD.
TheKorea Trade and Investment Agency (KOTRA) also opened a representative officein Da Nang to promote investment and connections with Korean investors in2018.
TheKorean Consulate General is scheduled to inaugurate an office in Da Nangon November 6./.
VNA
