Haiphong is promoting administrative procedure reforms and shortening the time to settle procedures to best serve investors and create solid foundations to propel development.
Foreign-invested manufacturers and assemblers of electronics products have generated big profits from Vietnam, which is the foundation for their consecutive expansion in the country.
Electronics conglomerates hoping for further incentives 06:00 | 03/03/2021
Vietnamâs attraction of overseas electronics and technology conglomerates cannot be overlooked. However, as the government is focusing on long-term acceleration of research and development and incentives for this sector, a shift from merely manufacturing to creating may soon take place among foreign-invested enterprises.
Instead of purely offering foreign investors a manufacturing base, Vietnam places more and more emphasis on R&D. Photo: Shutterstock
South Korean conglomerate LG in early February declared to add about $750 million to its LG Display Vietnam facility in the northern port city of Haiphong, raising its total investment capital to $3.25 billion. The move took place as COVID-19 returned.