Seminar set to promote Chinese investment in Vietnam's electronics

The event aims to promote networking and collaboration between firms and highlight the investment status and current investment incentive programmes by presenting case studies from investors, notably in the electronics industry in North Vietnam.

The seminar is welcoming more than 150 people, including from co-sponsors Bao Minh Industrial Park, China Mobile, Bank of China, LAUN, Core5 IP, ANDES E&C, INST, Vietinbank, CMI, and representatives of 72 Chinese electronic enterprises, such as Shenzhen Tablet Display Industry Association, Shenzhen Connector Industry Association, and Shenzhen Robot Cable Industry Association, together with typical Vietnamese investors, construction contractors, financial and legal entities.

The seminar focuses on three main topics: an introduction to the North Vietnamese electronics sector, promoting investment through investment policies and environments, and case studies from current Chinese FDIs in Vietnam.

Nguyen Van Kiem, general director of Bao Minh Industrial Park Infrastructure Investment JSC, highlighted an overview of the industrial market in the northern part of Vietnam with some potential challenges that investors might need to consider.

Accordingly, when opting to build or invest in a factory, investors should pay close attention to elements like location, tax, local authority support, and related issues like labour force, infrastructure, and rental price.

He also said that the newly developed Hai Long Industrial Park in Thai Binh province's Economic Zone offers special incentives of corporate income tax exemption for four years and deductions for nine years. With an abundant labour force and a convenient location, the project is promising to be a potential destination for manufacturing enterprises.

"Ready-built factories for rent are mainly located in Bac Ninh, Bac Giang, and Haiphong provinces, which offer competitive rental rates from $4.5–$6.5. While other areas with emerging markets such as Thai Nguyen, Phu Tho, and Ha Nam have rental rates ranging from $3.5 to $4.6," said Paul Tonkes, deputy director of sales and marketing at Core5 Vietnam.

"Domestic investors are gradually becoming more competent and capable of providing the same-quality products as international investors at affordable prices."

Tonkes also shared the new c projects in the economic zones of Haiphong and Quang Ninh provinces. The developments that are close to the Haiphong international seaport now benefit from incentive policies and special offers of a four-year corporate income tax exemption and a nine-year deduction.

During the seminar, representatives of Vietnamese construction contractors also listed common challenges and issues. Tran Duc Tuan, director of Andes E&C JSC, stated that despite receiving signals and encouraging indicators, Chinese businesses frequently encounter numerous challenges when investing in and operating in Vietnam. As a result, investors, construction contractors, and finance professionals are prepared to support and respond to any questions from investors.

The seminar also benefits from the practical contributions and sharing of visitors, clients, and companies that have invested in or plan to invest in Vietnam. Wherein restrictions, shortfalls, lessons learned, and workable solutions are put forth, helping to enhance the effectiveness of trade promotion activities and assisting firms in China, particularly in the electronics sector, to have a clear overall vision and strategic direction.

Signing ceremony of strategic partnership between VNIC and Core5

The signing ceremony of the strategic cooperation agreement between Vietnam Investment Consulting Co., Ltd. (VNIC) and Core5 Haiphong Co., Ltd. and Core5 Quang Ninh Co., Ltd. took place after the seminar. Accordingly, VNIC will collaborate with Core5 to construct a distribution system to develop consumer channels for two Indochina Kajima projects in Haiphong and Quang Ninh. This signing event represents a "milestone" in the development of both VNIC and Core5.

Do Hong Quan, general director of Vietnam Investment Consulting said, "VNIC wants to continue to be a support unit, conducting more relevant practical experience exchange seminars, setting the stage for foreign investment flow into Vietnam, assisting the economy, and encouraging FDI to expand substantially in terms of economics and bilateral connections."

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