Latest update about VSIP Nghe An in 2024

Apr 03, 2024

Updated: March 2024

1. Nghe An's achievements in attracting foreign investment

At the regular meeting on the morning of December 25 of the People's Committee of Nghe An province, leaders of the Nghe An Department of Planning and Investment informed that, as of December 22, 2023, 116 new projects have been granted in the entire province, an increase of 3.6 times compared to 2022; Adjusted 185 projects.

The total newly granted and adjusted capital is 57,891 billion VND, far exceeding the whole year plan (30,000-35,000 billion VND). In particular, the total newly and increased FDI capital has reached over 1.6 billion USD, an increase of 66.8% compared to 2022, ranking 8th in provinces and cities nationwide; Of which, attracting 1.595 billion USD to the Southeast Economic Zone.

Cumulatively, Nghe An province has attracted more than 130 FDI investment projects from 14 countries/territories with a total registered investment capital of more than 4 billion USD. Overall, for the entire 5-year period, from 2019 to present, Nghe An's FDI capital reached about 3.4 billion USD; accounting for 85% of total FDI capital registered to date.

Nghe An has successfully attracted many large corporations in the world to participate in the supply chain of electronic technology and green energy production such as: Luxshare - ICT, Goertek, Everwin, JuTeng, Foxconn, Runergy, Shangdong, Sunny ..., initially forming the province's key industries such as technology, electronics, energy, steel, auto component production,...

2. VSIP Nghe An Industrial Park I achievement in attracting investment in 2023

VSIP Nghe An Industrial Park has a total investment capital of 23,497.8 billion VND (about 1,012.8 million USD). Among them, there are 24 foreign investment (FDI) projects with total registered capital of 948.4 million USD.

To date, 41 projects have been granted Investment Registration Certificates. Of these, 27 projects have been put into operation, creating initial jobs for nearly 16 thousand local workers. It is expected that all factories will be operational and will attract more than 60 thousand local workers.

According to the Department of Industry and Trade of Nghe An province, the total investment capital in VSIP Nghe An industrial parks to date is 1,457.3 million USD.

3. VSIP Nghe An II Industrial Park:

On February 10, within the framework of the Vietnam - Singapore Business Forum taking place in Singapore, Prime Minister Pham Minh Chinh and representatives of the two countries witnessed the granting of investment approval for the second Vietnam - Singapore industrial park. two in Nghe An (VSIP Nghe An II) with a scale of 500 hectares.

VSIP Nghe An II Industrial Park with a scale of 500 hectares will be located in Dien Tho, Dien Phu, Dien Loc communes, Dien Chau district, Nghe An province.

Land lease term: 2073

3.1. Geographical location:

ü   VSIP Nghe An II has a convenient location, far from:

ü   VSIP Nghe An I: 35 km

ü   Vinh city: 37 km

ü   Cua Lo Port: 23 k

ü   Nghi Son Port: 63 km

ü   Vinh Airport: 30 km

ü   Hanoi: 265 km

ü   Hai Phong: 310 km

3.2. Infrastructure facilities of VSIP Nghe An II:

ü   Electricity: 80 MVA

ü   Telecommunications system: 25,000 lines

ü   Clean water: 24,000 m3/day

ü   Wastewater treatment system: 17,000 m3/day

3.3. Attractive profession

ü   Textiles

ü   Fast-moving consumer goods

ü   Drinks and food

ü   Electrical and electronic equipment

ü   Processing agricultural products

ü   Construction materials

ü   Other industries

3.4. Tax incentives:

Nghe An 2 Industrial Park enjoys tax incentives like those of the Southeast Economic Zone

Corporate income tax:

ü   Preferential tax rate of 10% for a period of fifteen years (15 years) applies to: Enterprise income from implementing new investment projects in industrial zones in the Southeast Economic Zone.

ü   Tax exemption for four years (4 years), 50% reduction of tax payable for nine years (9 years)

ü   Tax exemption for two years (2 years) and 50% reduction of tax payable for the next four years (4 years)

ü   The tax exemption and tax reduction period specified in this Article is calculated continuously from the first year the enterprise has taxable income from a new investment project that enjoys tax incentives. In case an enterprise has no taxable income in the first three years, from the first year of revenue from a new investment project, the tax exemption or tax reduction period is calculated from the fourth year of the new investment project revenue.

Land rental:

 Exemption for 11 years

For detailed information about the land area for rent and rental price of VSIP Industrial Park Nghe An 1, Nghe An 2, please contact (+84) 90806.9399