24 Sep Nghe An becomes ideal integrated investment hub
As more local and foreign companies are flocking into the central province of Nghe An, industrial parks such as WHA Industrial Zone are set to become a promising address for their investments.
Nghe An province has attracted 690 investment projects with total registered capital of VND143 trillion ($6.2 billion) in the previous five years.
Cross-border connectivity, strong support from local leaders, and the province’s strategic geographical location are the key drivers which are turning Nghe An into a magnet for investment.
The province provides also sufficient cross-border connectivity for investors to key markets in the region such as Laos, Thailand, and China.By virtue of its location, Nghe An has a coastline of 82 kilometres with convenient access to three deep seaports. The province also boasts an international airport, a railway station, good quality national highways, and four border gates to Laos.
In addition, Nghe An’s infrastructure and expressway network has been accelerated for competition. A new expressway is slated to be completed in 2022, along with a high-speed train and Vinh International Airport, which will further improve the regional links and establish the province as a major industrial hub of Vietnam.
Furthermore, Nghe An is attracting investors thanks to its abundant labour force. The province has a population of 3.2 million people, of which 1.9 million are of working age.
The constantly improving investment environment and preferential treatment such as special tax incentives at local industrial parks have paved the way for the stellar rise of investments in the province. In particular, investors will enjoy a tax reduction of 50 per cent in the first 15 years of operations and a 100 per cent tax exemption in the first four years.
Speaking at last week’s investment conference, chairman of Nghe An People’s Committee, Thai Thanh Quy, said that the province has a lot of room for development, so it is expecting businesses to increase investment in the locality. Local leaders are committed to accompanying investors and valuing their success, thereby building up mutual trust.
Nguyen Huu Duc, general director of WHA Industrial Management Services Vietnam said, “With the rapidly expanding industrial sector in Vietnam and in the region, Nghe An is an ideal location for investors to start, run or grow their business. The area is dynamic and a strategic gateway to major markets such as China, South Korea, and Japan. It is quickly becoming an integrated hub of business, education, manufacturing, transportation, and logistics.”
WHA Industrial Development Plc., has over 30 years of experience in industrial estates development in Thailand is bringing decades of award-winning infrastructure and environmental experience.According to Mr. Duc, Nghe An’s WHA Industrial Zone 1 is slated to be the largest industrial zone in north central Vietnam. With 3,200 hectares upon completion, WHA Industrial Zone 1 will be the perfect location for firms to develop and increase their footprint.
In Nghe An, the firm draws on this experience gathered from its industrial estates, including Thailand’s Automotive Cluster and Petrochemical Complex, located in a major industrial hub in Southeast Asia.
Therefore, industrial zone development in Nghe An is representing an opportunity for manufacturers, distributors, and investors to grow in Vietnam and the Southeast Asian region as a whole.
“We can proudly and confidently assure all future investors of our high uncompromising industrial estate standards, dependable industrial utilities, and quality services,” Duc said. “We invite potential investors to visit WHA Industrial Zone 1, so they can see our sustainable, dependable, and environmentally-friendly industrial zone and a community that will foster prosperity and growth.”
For more information, please contact:
WHA Industrial Management Services Vietnam Co., Ltd.
Nghe An Office: Tel: (+84) 238 222 9999; Lot AC1-1, D4 Road, WHA Industrial Zone 1 – Nghe An, Nghi Long Commune, Nghi Loc District, Nghe An Province, Vietnam
Hanoi Office: Tel: (+84) 243 574 6999; Address: 11th Floor, Daeha Business Center, 360 Kim Ma street, Ba Dinh district, Vietnam