Chairman of the City People's Committee working with LS-VINA: Removing production difficulties proposing the Group to expand investment in Hai Phong

23/10/2026

On the morning of October 21, at the headquarters of LS-VINA Power Cable and System Joint Stock Company (Hong Bang Ward), the Chairman of the City People's Committee chaired a meeting with the company's Board of Directors to capture the production and business results of the first 9 months of 2026, listen to recommendations, remove obstacles to promote economic growth in the spirit of Resolution No. 11-NQ/TU of the City Party Committee.

Attending the meeting were heads of departments, departments and branches: Finance, Industry and Trade, Construction, Agriculture and Environment, Hai Phong Economic Zone Management Board, Customs Sub-Department of Region III, City Tax, City Police, Office of the City People's Committee; Chairman of the People's Committee of Hong Bang Ward. On the business side, there is the Board of Directors of LS-VINA Power Cable and System Joint Stock Company.

*The Chairman of the City People's Committee visited the production area of LS-VINA Power Cable and System Joint Stock Company.*

Reporting to the Chairman of the City People's Committee, the leader of LS-VINA Power Cable and System Joint Stock Company said: Although the export market and raw materials have many fluctuations, the company has proactively innovated management, optimized costs and maintained stable growth. In the first 9 months of 2026, the company's total revenue will reach VND 18,276 billion (estimated at VND 24,000 billion for the whole year); export revenue reached VND 4,769 billion (estimated at VND 7,000 billion for the whole year). Profit before tax reached VND 940 billion; fulfilling the obligation to pay to the state budget of VND 973 billion (particularly for budget contributions in Hai Phong reached VND 180 billion, estimated at VND 334 billion for the whole year); ensuring stable jobs with an increasing average income for employees.

General Director of LS-VINA Cable and System Joint Stock Company Chang Dong Wook proposed that the city consider exempting and reducing fees for using seaport infrastructure for manufacturing enterprises in the area.

At the meeting, the enterprise proposed the city to consider exempting and reducing fees for using seaport infrastructure for manufacturing enterprises in the area; at the same time, it creates favorable conditions for the company to participate in supplying electric cable products for energy, transport and urban infrastructure development projects of Hai Phong.

*Chairman of the City People's Committee Do Thanh Trung absorbed the proposals and recommendations of LS-VINA.*

Speaking at the conclusion of the meeting, the Chairman of the City People's Committee acknowledged and praised the efforts and positive production and business results of LS-VINA, affirming that the company is one of the typical FDI enterprises, making important and long-term contributions to industrial development as well as budget revenues of the city and the whole country.

*View of the meeting of the Chairman of the City People's Committee with the Board of Directors of LS-VINA Power Cable and System Joint Stock Company.*

Affirming the city's consistent view of always accompanying and protecting legitimate interests and creating the most favorable conditions for businesses, the Chairman of the City People's Committee absorbed the proposals and recommendations of LS-VINA. Regarding the issue of seaport infrastructure fees and mechanisms to facilitate the use of domestic products, the city assigns functional departments and branches to urgently review and study solutions in harmony and in accordance with the law.

*The Chairman of the City People's Committee presented souvenirs to LS-VINA Power Cable and System Joint Stock Company.*

Notably, the Chairman of the City People's Committee emphasized that the Company's Board of Directors should urgently report and officially discuss with LS Group (Korea) about studying and expanding the investment scale of new projects in Hai Phong. The city pays special attention to the investment orientation for the development of high-end trans-sea submarine cable product lines – a field that requires a lot of specific technology, effectively serving national energy strategies such as pulling electricity to the islands and developing offshore wind power centers. The Chairman of the City People's Committee committed that Hai Phong is ready to prepare the most favorable land locations in terms of premises, seaport logistics and technical infrastructure for the Group to implement the project in a timely manner, not to miss the golden opportunity in attracting high-tech industrial production chains./.