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VSIP Quang Ngai: 5 years of development and companionship

Five years ago, on September 13th, 2013, the ground-breaking ceremony of VSIP Quang Ngai was officially started. After 5 years of investing in infrastructure in accordance with the standards of “green” industrial park, VSIP Quang Ngai IP is becoming a reliable address of domestic and foreign investors.

Overview of VSIP Quang Ngai.

A model Industrial Park

Following the success of the projects in both the North and the South, VSIP Quang Ngai became the fifth and also the first project in Central Vietnam, completing the map of VSIP’s strategic locations in Vietnam. VSIP Quang Ngai is planned with a total area of 1,700ha, in Tinh Phong commune (Son Tinh district) and Truong Quang Trong ward (Quang Ngai city).

Talking about the advantages of VSIP Quang Ngai IP, Mr. Ker Seng Hong – Deputy General Director of VSIP Quang Ngai Co., Ltd said: “VSIP Quang Ngai has many advantages to satisfy the difficult domestic and foreign investors when implementing their projects here. “

Mr. Ker Seng Hong analyzed: there are the clean land fund and the synchronous and modern services for investors to deploy the project immediately. Along with modern roads system, communication, power supply, water supply system, etc. two important utilities, namely Waste Water Treatment Plant and Fire Station have been put to operation.

Located in Dung Quat EZ, when investing in VSIP Quang Ngai IP, investors will enjoy preferential policies such as import tax exemption for 5 years for raw materials, supplies and components; semi-finished products which can not be produced domestically used for their production. Exemption of import tax on equipment, machinery and exported means of specialized transportation with more than 24 seats to create fixed assets of enterprises. To enjoy the corporate income tax rate of 10% within 15 years from commencing their production and business activities; 4 years tax exemption since the taxable income and a half reduction of tax applied in the next 9 years.

VSIP Quang Ngai is located in an advantageous position, including the National Highway 1A, railways and waterways, enabling investors to easily connect with neighboring areas in importing and exporting goods. In addition, the Da Nang – Quang Ngai expressway has been in operation since early September 2018, connecting more flexibly and faster with deep sea ports and international airports.

In particular, Quang Ngai province as well as Dung Quat Economic Zone and Quang Ngai IPs always stand side by side and support investors. Currently, at VSIP Quang Ngai there is a One-Stop-shop consisting of members who are representatives of related departments, branches and localities will directly guide and assist investors to invest in VSIP Quang Ngai in the process of implementation their projects.

Destination of FDI projects

VSIP Quang Ngai has attracted 19 projects from 9 countries with a total registered capital of over US$382.6 million, with major fields such as footwear, textiles, soft drinks, mechanical services, furniture production, etc. Currently, 09 projects have been put into operation, creating jobs for more than 6,700 employees. It is estimated that when 19 projects are put into stable operation, they will create jobs for about 27,500 workers.

Xindadong Textiles (Vietnam) Ltd.

The companies that are operating effectively at VSIP Quang Ngai include Xindadong Textiles (Vietnam) Ltd., which specializes in manufacturing and trading of knitted yarns, colored yarns and high quality Jeans. Their products are normally exported to Europe, North America and Southeast Asia, etc. In 2017, the company produced more than 16,800 tons of products with turnover of VND 1,131 billion. Properwell Vietnam Co., Ltd, their main business is leather shoes, achieved nearly USD 11 million in export turnover in 2017, the output is nearly 1 million pairs with turnover of VND 420 billion.

Nearly 5 years in operation, VSIP Quang Ngai has actively participated in volunteer programs, social security for the community, with the total support up to VND 7.2 billion. In particular, the project “Community Library” located at the VSIP Quang Ngai commerce – urban-service zone has brought a very convenient reading space for around readers; the Sembcorp-VSIP Clean Water Project provides clean and safe water for schools and localities. In addition, VSIP Quang Ngai is also interested in supporting Tet gifts, donnored more than 1 billion VND to build 25 houses for poor floodplain areas by the end of 2017.

Mr. Le Han Phong – Vice Chairman of DEZA highly appreciated the results that VSIP Quang Ngai has achieved over the past 5 years: “With the momentum of the past 5 years, VSIP Quang Ngai has been contributing to the development of industry, service and urban areas, creating jobs for laborers and contributing to local budget revenues, step by step bring Quang Ngai closer to the target of becoming an modern industrial province in 2020”

Mr. Phong also said that DEZA will continue to accompany VSIP Quang Ngai in promoting and calling for investment. At the same time, coordinating with the training institutions to train high quality human resources, meeting the needs of investors.

By T.Giang

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Editor:Mr.Dam Minh Le - Vice Chairman
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