Lotte promises to raise investment in Vietnam

By Bao Binh - Mar 10, 2018 | 10:00 AM GMT+7

TheLEADERThe vice chairman of Lotte, Hwang Kag-gyu met with Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi on August 08 to discuss further cooperation in business and investment projects in the country.

Lotte promises to raise investment in Vietnam
PM Nguyen Xuan Phuc (R) meets with Lotte's Vice Chairman Hwang Kag-gyu. Photo: NDO/Tran Hai

At the meeting, Lotte’s Vice Chairman explained the group’s upcoming projects in Vietnam, including a project on cacao cultivation, an EP factory in the central highlands province of Lam Dong, the Eco-smart city in Ho Chi Minh City and the Lotte Mall Hanoi project.

The Eco-smart city project, which is located in Thu Thiem New Urban Area, District 2, HCMC, covers the total area of 7.45ha. The project has an estimated investment capital VND20.1 trillion (equivalent to US$883 million) with a construction period of 72 months.

Lotte is currently operating various business lines in Vietnam including the fields of hospitality, retail, services, construction and farm produce import, Hwang said, adding that the South Korean firm would make more contributions to improving the living conditions of the Vietnamese people.

Lotte has also begun to develop e-commerce in Vietnam since 2017.

Hwang expected Lotte would receive strong support from the Vietnamese Government and local agencies for its future business activities.

The Prime Minister highly appreciated Lotte’s successful projects developed in major cities of Việt Nam, hoping that Lotte would expand its business and develop new projects in the country.

The Prime Minister affirmed that the Government of Vietnam pledged to create favorable conditions to Lotte for its sustainable development and long-term investment in Vietnam.