Vietnamese, Korean officials attend the inauguration ceremony of the incubator park. (Photo: chinhphu.vn)
The incubator park, whose construction started in November 2013, had an investment of $21.13 million, of which $17.7 million came from South Korea’s official development assistance and the remainder from the Vietnamese government.
The two-block facility, which spanning 13,000 square meters, is equipped with modern devices designed for the research and development of the city’s three major sectors namely produce processing, aquaculture and mechanical engineering.
The incubator park is designed to accommodate 40 foreign and local businesses specializing in agriculture, aquaculture, and mechanical engineering.
Two Vietnamese businesses and another from South Korea have been offered entry into the incubator park.
Up to 20 Korean companies are lining up for a spot in the incubator park and the number will rise later, South Korea’s Minister of Trade, Industry and Energy Yoon Sang-jick said.
Korean companies are interested to do business in Vietnam and Can Tho city in particular. Lotte Group is keen on opening supermarkets in the city, the minister added.