RoK firm invests 1.5bln USD in northern economic zone
The Republic of Korea's LG Electronics (LGE) has been granted a licence
to invest 1.5 billion USD in a new manufacturing complex in the northern
port city of Hai Phong.
The Republic of Korea's LG Electronics (LGE) has been granted a licence
to invest 1.5 billion USD in a new manufacturing complex in the northern
port city of Hai Phong.
The project will be developed on a 10ha site in Trang Due Industrial Zone, a complex comprising industry, a township, recreation facilities and service parks on a total area of 600ha.
The project will be divided into two stages. The first stage will be developed in four years with 510 million USD. The second one will involve spending 990 million USD over five years.
The committee hopes the project will help the zone attract more investors, particularly LGE partners and satellite parties; and create about 20,000 jobs.
LGE will take advantage of new tax incentives available from the middle of August. They include corporate income tax of only 10 percent in the first 15 years of operation.-VNA
The project will be developed on a 10ha site in Trang Due Industrial Zone, a complex comprising industry, a township, recreation facilities and service parks on a total area of 600ha.
The project will be divided into two stages. The first stage will be developed in four years with 510 million USD. The second one will involve spending 990 million USD over five years.
The committee hopes the project will help the zone attract more investors, particularly LGE partners and satellite parties; and create about 20,000 jobs.
LGE will take advantage of new tax incentives available from the middle of August. They include corporate income tax of only 10 percent in the first 15 years of operation.-VNA
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