Sangshin Central Vietnam Co., Ltd. has been greenlit by Quang Tri People's Committee to develop a component manufacturing factory in the central province.
|Sangshin Central Vietnam invests in a component manufacturing plant in Quang Tri (Illustration photo) |
Covering an area of 19,721 square metres in Dong Ai Tu Industrial Cluster, the factory will manufacture and process noise filters, inductors, and molded plastic components. The project has a total investment capital of VND81 billion ($3.5 million).
The first phase of the project will be kicked off in April 2022 and is slated to commence operations in January 2023. The second phase of the project will be implemented from April 2024 and be put into operation from January 2025. Once completed, the project will have an annual output of 4.8 million noise filters, 27 million inductors, and 82 million molded plastic components for both phases.
Sangshin Central Vietnam Co., Ltd. is a wholly-owned subsidiary of South Korea's Sangshin Electronics Group with the charter capital of VND46 billion ($2 million).
As Dong Ai Tu Industrial Cluster is on the list of disadvantaged areas, the project should be entitled to investment incentives such as exemption and reduction of land rent, land use levy, and land use tax. In addition, the project also enjoys incentives on corporate income tax as well as import tax according to relevant regulations.