$479 mln industrial hub planned for Hai Phong
Construction of a VND11 trillion ($479.2 million) non-tariff logistics and industrial hub in the northern city of Hai Phong is set to begin early next year.
The city has greenlighted Xuan Cau – Lach Huyen Investment JSC to construct the Lach Huyen hub, approved by the government in April.
The hub gives companies an incentive corporate income tax of 10 percent for 15 years since the first revenue against the standard 20 percent.
Zero tariffs will be applied on exports from the hub to other countries, and no value added tax and special consumption tax would be applied on goods traded with other countries or other non-tariff zones.
The project covers 752 hectares in Dinh Vu – Cat Hai economic zone. Its first phase will be completed in 2025.
The next two phases is scheduled to become operational by 2030 and 2033.
The hub is set to attract 40,000-50,000 workers.
It will focus on the sectors of exports, technology, storage and logistics.