At the invitation of President of the Socialist Republic of Vietnam Vo Van Thuong, President of Mongolia U.Khurelsukh is paying a State Visit to the Socialist Republic of Vietnam on November 1-5, 2023.
As part of the visit, President U.Khurelsukh visited the Luong Son Industrial Park in Hoa Binh province. The Ministry of Planning and Investment of Vietnam had planned to build 563 industrial parks in 61 cities and provinces across the country’s 63 administrative regions. By 2023, 397 industrial parks had been established. In Hoa Binh Province, two out of the eight planned industrial parks have begun operating.
The Luong Son Industrial Park, established in 2010, covers 230 hectares of land in Hoa Binh province. The park is primarily designed to support agricultural processing, building materials, solar panel assembly, consumer goods manufacturing, and environmentally friendly manufacturing. Since it commenced operations, Luong Son Industrial Park has attracted a total of USD 300 million in foreign direct investment from approximately 30 companies from Japan, South Korea, and India. Luong Son Industrial Park has generated over 15,000 jobs in the region, making a substantial contribution to the socioeconomic development of the country and the region.
Subsequently, the Mongolian President visited car wiper manufacturer Cap Global, motorcycle parts manufacturer Nissin Manufacturing Vietnam LLC, and solar panel manufacturer CRC Solar Cell.