06 Sep Top Japanese car accessories manufacturer decided to invest in Tien Hai industrial park

On 08/2017, Viglacera Real Estate Company and Toyoda Gosei Co., Ltd. signed a land lease contract for an area of 11.3 ha in the Viglacera-invested Tien Hai Industrial Park, Thai Binh province. With a network of approximately 100 factories and offices in 18 countries and regions, Toyoda Gosei is the world’s leading car accessories manufacturer and a major supplier to Toyota Motor Corporation.

Expected to be be constructed at the beginning of 2018 with a total investment of $24.6 million, and put into operation by 2019, the new plant will specialize in the production of airbag parts, airbags for the safety of car driver and passengers, along with leather and polyurethane covered steering wheels for the export to Japan, the US, EU and other regions.

Tien Hai Industrial Park has geographical advantages as it is located near a coastal highway linking 6 northern coastal provinces (Quang Ninh- Hai Phong-Thai Binh-Nam Dinh-Ninh Binh- Thanh Hoa), whose construction just started in May 2017, in which the Thai Binh section is scheduled to be completed by the end of 2018, narrowing the distance and time needed to travel from the industrial park to Hai Phong port (40km-60 minutes).

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Besides, enterprises located in Tien Hai Industrial Park also enjoy privileges exclusive to enterprises in Industrial zones, such as: preferential corporate income tax rate of 10% in 15 years, tax exemption in the first 4 years and a 50% reduction for the next 9 years; tax exemption on land rent from 11 to 19 years; preferential taxes on imports; preferential individual income tax… Thanks to these, within one month after the official approval of its construction, Tien Hai Industrial Park has attracted lots of attention from investors in Japan, Korea, Hong Kong, and Taiwan, ….

In order to meet the increasing demand for land leasing in Tien Hai Industrial Park, Viglacera is actively accelerating site leveling and infrastructure preparation to create favorable conditions for the operation of enterprises.

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Located in Tien Hai district, Thai Binh province, with an area of 466 ha, Tien Hai Industrial Park is planned to create approximately 30,000 jobs for local people upon its completion.

Tien Hai Industrial Park is a project of great political and economic significance, given its situation at the center of Northern Vietnam and in the coastal economic corridor; a convenient location for road transport; near the coastal highway linking 6 northern coastal provinces.

The industrial park has a great advantage in terms of energy when located near the Tien Hai gas field with large CNG reserves of hundreds of billion cubic meters and an annual capacity of 200 million cubic meters of gas.

Since the industrial park is located in an area with the most abundant labour force in Northern Vietnam, with workforce in Thai Binh province and neighboring provinces reaching 5.5 million, enterprises will find it easy to seek and recruit workers there.

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