LG Group is looking for and interested in investment opportunities in the Concentrated IT Park (Da Nang IT Park - DITP), which is known as the 'Silicon Valley of Vietnam'.
LG Group also plans to quickly establish a research and development (R&D) center in the electronics sector.
The Board of Directors of LG Vietnam Group has just visited Danang IT Park (DITP) right after signing the Cooperation Agreement with the Investment Promotion and Support Board of Da Nang City. DITP with the support of the Government, enjoys many specific mechanisms, preferential policies to support businesses such as reducing corporate tax, encouraging investment, etc.
LG and Da Nang sign cooperation
At the visit and looking for investment opportunities on the afternoon of 7.10, the Board of Directors of LG Electronics Vietnam discussed with the leaders of Da Nang City and Da Nang IT Park Development Joint Stock Company about investing in DITP.
The two sides have quickly promoted the establishment of a research and development (R&D) center for automotive electronics in this IT park.
The business trip aims to inspect the facilities and supporting facilities of this complex. Da Nang IT Park Development Joint Stock Company introduced SMT (Surface - Mount Technology) high-tech projects to support the research of advanced electronic products and equipment, and called on LG Electronics to invest.
Previously, on October 6, LG Electronics Vietnam's Automotive Components Solution Development Center (LG VS) signed a memorandum of understanding (MOU) with the Da Nang City Investment Promotion and Support Board, moving towards the establishment of an R&D Center in the field of electronics. It is expected that this center will start operating next year.
The visit and working in Da Nang City in general and DITP in particular of LG Electronics Vietnam has an important significance in determining that LG will choose DITP as the location of the R&D Center in the near future.
According to the Investment Promotion and Support Board of Da Nang City, LG Electronics Group has 8 main business areas, of which LG VS specializes in manufacturing components and software solutions for infotainment systems for cars such as listening to music, watching movies, operating, and ensuring the 3G-4G system on the vehicle.
DITP introduces products to the IT market with LG
PHOTO: PHU THANH
Many incentives to attract investment
DITP The concentrated IT complex is located in Hoa Lien commune (Hoa Vang District, Da Nang City) developed by Trung Nam Group since 2013. This is the fourth IT Complex in the country and the second designated by the Government to be established in Da Nang City.
DITP is also the largest industrial park in Vietnam with a full range of functional subdivisions. Currently, DITP has completed the construction of phase 1 with a scale of 131 hectares with an investment of 82 million USD. Currently, DIPT is planning to invest an additional 196 million USD and expand to 210 hectares in 2023.
With the orientation of the Central Government and the determination of Da Nang City, this city is dedicating many preferential mechanisms and outstanding policies to attract technology companies to Da Nang, realizing the aspiration of turning Da Nang into an IT center in Southeast Asia. "Silicon Valley Vietnam".
In particular, for foreign enterprises investing in the construction of production factories, DITP has many policies to support businesses such as corporate tax incentives for 15 years, corporate income tax incentives and import tax exemption for equipment and machinery.
Currently, DITP has completed infrastructure, traffic connecting convenient routes, with software parks and high-tech parks to support, DITP is expected to be reinforced, creating synergy for the goal of developing high-tech industry, IT becoming a key economic sector of Da Nang City.