Hai Long IP in full gear to serve investors

August 08, 2024 | 12:20

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Bao Minh Industrial Park Infrastructure JSC from Thai Binh province participated in a workshop on August 6 aimed at attracting investment in Vietnam at the Taipei International Convention Centre in Taiwan.

The event, hosted by the Vietnam Economic and Cultural Office in Taipei in tandem with the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, PwC in Taiwan, Megabank, and several Vietnamese organisations, garnered particular attention from local and regional businesses.

Hai Long IP in full gear to serve investors

The investment promotion workshop at the Taipei International Convention Centre in Taiwan

The workshop highlighted the potential and investment opportunities in Vietnam, particularly in economic zones and industrial parks (IPs), with the attendance of leading economic experts, business executives, and government officials.

Amid increasingly robust Vietnam-Taiwan relations, the event created a platform to help Taiwanese investors thoroughly grasp the Vietnamese market as well as associated investment incentive policies in the country.

At the workshop, the FIA, representatives from Vietnam’s five localities, and 30 Vietnamese businesses gave presentations about ongoing IP projects and special incentives tailored to foreign investors.

Do Nhat Hoang, director general of the FIA, presenting Vietnam’s investment incentive policies

Attending the workshop, 240 Taiwanese businesses were offered detailed information about Vietnam’s regulatory system, relevant administrative procedures, and tax policies to give a comprehensive view of the country’s business environment.

Of the projects presented at the event, Hai Long IP, the sole representative for Thai Binh IPs, caught the investors’ attention thanks to its favourable geographical position, convenient transport, well-conceived planning, and smart development orientation geared towards an eco IP model.

Do Quang Tuan, deputy CEO of Bao Minh IP Infrastructure JSC

Giving remarks at the workshop, Do Quang Tuan, deputy CEO of Bao Minh IP Infrastructure JSC, the developer of Hai Long IP, outlined the advantages of Hai Long IP as well as the policy incentives and support on offer to investors and businesses.

“Hai Long IP is poised to offer investors the best possible conditions for success, and we would be happy to welcome you to the park to learn more about investment opportunities,” said Tuan.

Hai Long IP was established under Decision No. 1370/QD-TTg dated November 9, 2022 with Bao Minh IP Infrastructure JSC as the developer. The IP is part of Thai Binh Economic Zone, belonging to Dong Long, Dong Tra, and Dong Xuyen communes, Tien Hai district. The IP covers 300ha and has $91.6 million in total investment value. Hai Long IP has expansion plans along Tra Ly River, accessible by a coastal road, and provincial routes 464 and 221D, creating a convenient transport network and effectively serving investment, production, and business activities of IP-based enterprises. In addition, Hai Long IP is only 40km from the airport and Haiphong’s deepwater port, providing the ideal condition for businesses to transport goods to meet production requirements as well as import-export activities. Investors at Hai Long IP are entitled to enticing tax incentives, such as a 10 per cent preferential corporate income tax for 15 years. Regarding import and export duties, a tax-free policy applies to machinery, equipment, and specialised vehicles imported to create fixed assets; raw materials for producing exports; and materials not produced domestically. Export processing enterprises are entitled to VAT exemption and a 15-year reduction in land rental fees.

Hai Long IP was established under Decision No. 1370/QD-TTg dated November 9, 2022 with Bao Minh IP Infrastructure JSC as the developer.

The IP is part of Thai Binh Economic Zone, belonging to Dong Long, Dong Tra, and Dong Xuyen communes, Tien Hai district.

The IP covers 300ha and has $91.6 million in total investment value.

Hai Long IP has expansion plans along Tra Ly River, accessible by a coastal road, and provincial routes 464 and 221D, creating a convenient transport network and effectively serving investment, production, and business activities of IP-based enterprises.

In addition, Hai Long IP is only 40km from the airport and Haiphong’s deepwater port, providing the ideal condition for businesses to transport goods to meet production requirements as well as import-export activities.

Investors at Hai Long IP are entitled to enticing tax incentives, such as a 10 per cent preferential corporate income tax for 15 years.

Regarding import and export duties, a tax-free policy applies to machinery, equipment, and specialised vehicles imported to create fixed assets; raw materials for producing exports; and materials not produced domestically.

Export processing enterprises are entitled to VAT exemption and a 15-year reduction in land rental fees.

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By Lien Thuy

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