300 million USD FDI project increases capital to 1.5 billion USD. Mr. Ko Tae-yeon, General Director of LG Electronics in Vietnam has just said: The production complex with [...]
Mr. Ko Tae-yeon, General Director of LG Electronics in Vietnam has just said: The production complex with more than 100,000 people m2 of LG's factory in KTrang Due Industrial Park (Hai Phong) officially increased its capital from 300 million USD to 1.5 billion USD after Trang Due was merged into Dinh Vu Economic Zone.
This complex produces and exports electronic and household electrical products with an expected localization rate of up to 50% and will go into operation next October. Many LG satellite companies also followed the group into Trang Due. To date, this industrial park has attracted 2 billion USD in foreign direct investment (FDI). According to Vietnam's incentives, investors in economic zones enjoy the highest incentives such as: corporate income tax exemption for 4 years, 50% reduction for the next 9 years; The tax rate for the first 15 years is 10%.
Procedures
