By Di Li

Released in Vietnam Economic News, No 47, 18/11/09

The Vietnam Economic News' Di Li spoke with Dowon Group Chairman Hea Keun Yoon.

Early this November, the People's Committee of Ha Nam sent a delegation to the Republic of Korea (RoK). The delegation worked with the Dowon Group (RoK) which is building Hanam Techno Valley in the province. Dowon has thus far spent US$100 million preparing to build this project and it expects to spend another US$700 million to see it to completion. Dowon Group Chairman Hea Keun Yoon said that Hanam Techno Valley will be the biggest IT (information technology) and BT (biotechnology) zone in Vietnam and it will have factories, universities and green space.

Why did Dowon choose to build Hanam Techno Valley in Ha Nam?
We invest heavily in China, but for the past four years we've also been looking into the Vietnamese market. Businesses from RoK and all over Southeast Asia have begun to invest in Vietnam in addition to China. The location of the province and the potential that exists in general in Ha Nam suits our five development strategies. We looked closely at 15 provinces in Vietnam and chose Ha Nam because we foresee that development will be taking place in the province in the future. Transportation in Ha Nam is good and it’s 60km from Hanoi, 80km from Noi Bai airport and 100km from the port of Hai Phong. Surrounding Ha Nam are a number of important provinces/cities. In addition, there is a skilled workforce in Ha Nam.

What kinds of difficulties has Dowon had?
Thus far we've had no difficulties but we are just in the initial stage with this project. It's going fine and I hope that the Vietnamese Government creates conditions that are favorable not only for RoK investors but also for investors from every other country/territory.

What about investor services in Ha Nam?
Vietnam and RoK are like brothers, one rich, one poor. Ha Nam authorities are friendly and helpful. Provincial officials are enthusiastic and patriotic and their interest is provincial development.

There are a large number of industrial zones in Vietnam. What makes you think that Hanam Techno Valley will be the biggest industrial zone in the country?
Dowon is number one in construction technology in RoK. We expect to become number one in Vietnam in the areas of IT and biotechnology. I can assure you that Hanam Techno Valley will be number one in its field in Vietnam.

Other foreign companies have built industrial zones in Vietnam, such as the Phu Tho industrial zone, built by Korean companies, and they sit vacant. How is Dowon going to avoid this problem?
We have been investing overseas for many years and we believe that we can use what we've learned to be successful in Vietnam. We have very carefully done our market research in Vietnam. What we need now is cooperation from the Ha Nam province authorities.

How many companies do you think will want to go to Hanam Techno Valley to set up a business?
I am the president of the Korean Small to Medium-sized Business Association and we have about 45,000 members. These companies have projects in China and Singapore. Two have told me that they want to set up a business in Hanam Techno Valley, but I cannot tell you who they are right now.