300 million USD FDI project increased investment capital to 1.5 billion USD

Mr. Ko Tae-yeon - CEO of LG Electronics Vietnam has announced that the LG complex on over 100,000m² in Trang Due Industrial Park (Hai Phong) was officially adjusted to increase capital from USD 300 million to USD 1.5 billion after the merger of Trang Due Industrial Park into the Dinh Vu Economic Zone.

This complex manufactures and exports electronic products and electrical appliances with a localization rate of up to 50%. The complex is scheduled to come into operation in October. A number of  satellite companies would also follow in the steps of LG to get into Trang Due. To date, this park has attracted USD 2 billion of foreign direct investment (FDI) capital. Under the incentives of Vietnamese government, investment projects into Trang Due Industrial Park will be entitled to top preferences such as exemption of corporate income tax within 4 years, reduction of 50% for the next 9 years and application of 10% tax rate for the first 15 years of operation.