Central Vietnam industrial zone attracts investors to boost electronics industry

By Van Pham   November 3, 2020 | 11:00 pm PT
With an ideal location, infrastructure and tax preference, WHA Industrial Zone 1 - Nghe An has become a prime destination for both domestic and foreign investment.

Last month, WHA Industrial Zone 1 - Nghe An announced the signing of a land purchase agreement with Goertek Precision Industry Vietnam Co., Ltd., a subsidiary of China-based Goertek Inc., a global manufacturer of smart hardware and high-precision components.

Goertek Precision Industry Vietnam (Goertek Vina) acquired an area of 40.48 ha to build a new factory complex for the manufacturing of electronic components for mobile phones. Construction is expected to start in late 2020 and industrial operations mid-2021.

Goertek Precision Industry Vietnam (Goertek Vina) got IRC on 16 October 2020.

Goertek Precision Industry Vietnam (Goertek Vina) receive investment certificate on October 16, 2020.

With a workforce of nearly 40,000 employees specializing in micro-electromechanical systems, Goertek Vina produces smart hardware and high-precision acoustic and optic components. The group’s clients comprise major phone manufacturing companies in the U.S.

"In addition to its great location in north central Vietnam, WHA Industrial Zone offers several advantages, like an abundant and well-trained workforce, and the possibility to expand further in view of our future growth," said Jung Dea Young, Goertek’s Board of Directors representative in Vietnam.

He also praised the great support from Nghe An provincial authorities. "Preferential tax incentives are attractive, such as a special corporate income tax at 10 percent for 15 years from the date the company starts to generate revenue; an exemption for the first four years and a 50 percent reduction in the subsequent nine years from the date the company generates taxable income," he noted.

Nghe An Province offers easy connections to Vinh International Airport, deep sea ports, rail networks and national highways. Newly-opened WHA Industrial Zone 1 - Nghe An has the added advantage of offering world-class infrastructure in terms of roads, water utilities, power supply, modern communication systems, air quality and security monitoring.

In addition, Vietnam's implementation of a series of Free Trade Agreements (FTAs), its strong demographic conditions and effective government policies have facilitated this trend with local and international investors in the electronics industry.

WHA's 30 years of experience in Thailand

David Nardone, Group Executive Industrial and International, WHA Industrial Development Plc.

David Nardone, Group Executive, Industrial and International, WHA Industrial Development Plc.

WHA Industrial Zone 1 - Nghe An was operated by WHA Group with 30 years of experience in the development of world-class industrial estates in Thailand. The group is currently operating 10 industrial estates with a surface area of over 7,800 ha, over 800 global customers and an estimated global investment of $33.2 billion.

"Vietnam’s business environment has evolved significantly over the past years and has become an attractive location for investors to open or relocate their industrial and manufacturing bases in Asia," said Jareeporn Jarukornsakul, chairman and group CEO, WHA Corporation PLC.

David Nardone, group executive Industrial and International, WHA Industrial Development PLC., said the IZ is welcoming new investors from China, Japan, Vietnam, and Thailand to set up their operations with the advantages of geographical location, workforce availability, infrastructure, utilities and eco-friendly solutions.

WHA Industrial Zone 1 - Nghe An proposes land plots in various sizes, ranging from 5,000 to 100,000 square meters. In addition to the initial 143.5 ha already under operation, another 354.5 ha are under development. Total phases for development include 3,200 ha.

WHA Nghe Ans firefighting team.

WHA Nghe An's firefighting team.

go to top