LG Display proposes extension of tax incentives in Vietnam
LG Display Vietnam Hai Phong, under LG Display - a subsidiary of South Korean chaebol LG, has called on the Vietnamese government to extend tax incentives for the company for its long-term investment.
Choi In Kwan, general director of the company, located in the northern city of Hai Phong, made the proposal at a meeting with Deputy Prime Minister Nguyen Chi Dung on Friday.
In response, Dung asked the Ministry of Science and Technology and the Ministry of Finance to guide the company in completing related procedures "in the spirit of readiness to support and creating the best conditions for the company".
Deputy Prime Minister Nguyen Chi Dung receives Choi In Kwan, general director of LG Display Vietnam Hai Phong, in Hanoi on April 4, 2025. Photo courtesy of the government's news portal.
Choi expressed the firm's desire to expand its cooperation with Vietnamese enterprises, enabling Vietnam to participate more intensively in the global value chain.
The company also wishes to receive the Vietnamese government's continued support for long-term investments, he added.
Dung highly valued the business performance of LG Group and the contribution of LG Display Vietnam to the country’s socio-economic development in recent years.
He said the Comprehensive Strategic Partnership between Vietnam and South Korea is growing rebustly across spheres, especially in trade and investment.
Amid the rapid and complex developments in the regional and global landscapes, Vietnam remains committed to maintaining political and socio-economic stability, building an independent and self-reliant economy while proactively pursuing extensive, substantive, and effective global integration, the Deputy PM noted.
Dung also affirmed the Vietnamese government’s commitment to further consolidating the institutional framework and facilitating the operation of both domestic and foreign investors.
Established in 2016, LG Display Vietnam Hai Phong mainly operates in production, assembly, and processing of high-end and smart display panels, with total registered investment capital of $1.5 billion. In 2024, the company had nearly 20,000 employees with a revenue of over VND50 trillion ($1.94 billion.)
Last year, LG Display Vietnam Hai Phong made a strong year-on-year growth of 41.79% in revenue, reaching KRW3,931.8 billion ($2.71 billion), while its post-tax profit increased 57.5% to KRW250.5 billion.
The figure was the second-highest among all subsidiaries of LG Display, only smaller than LG Display America.
- Read More
Vietnam’s BCG Energy aims for green energy comeback
BCG Energy JSC (UPCoM: BGE), a subsidiary of Vietnam's multi-sector corporation Bamboo Capital, plans to hold its 2025 AGM on August 14, staying ready for a comeback to the green energy race.
Companies - Tue, July 22, 2025 | 9:54 am GMT+7
Passion fruit, banana, pineapple, coconut could be Vietnam's next billion-dollar exports
Passion fruit, banana, pineapple, and coconut are emerging as Vietnam’s next billion-dollar export items, offering strong potential to diversify the country’s fruit and vegetable sector, experts told a recent forum held in Ho Chi Minh City.
Companies - Tue, July 22, 2025 | 8:53 am GMT+7
Keppel Land to entirely divest from Nam Long after a decade of being strategic shareholder
Ibeworth Pte Ltd, a company under Singapore's Keppel Land, on Monday announced that it will sell over 29.4 million Nam Long Group (HoSE: NLG) shares to restructure its portfolio.
Companies - Mon, July 21, 2025 | 11:24 pm GMT+7
Vietcomank proposes not to pay taxes on behalf of foreign entities without physical presence in Vietnam
Vietcombank, one of the Big 4 Vietnamese banks, has proposed removing a regulation that requires commercial banks to withhold and pay taxes on behalf of foreign organizations and individuals that earn income from commercial activities in Vietnam but do not have physical presence in the country.
Finance - Mon, July 21, 2025 | 8:54 pm GMT+7
Typhoon Wipha approaches Vietnam's coast, expected to trigger torrential rains, landslides
Typhoon Wipha, the third storm this year in Vietnam, is forecast to make landfall along the coast from Hai Phong city to Thanh Hoa province on Tuesday, bringing extreme rainfall to northeastern provinces as well as the mountainous regions of Thanh Hoa, Nghe An, and Ha Tinh.
Society - Mon, July 21, 2025 | 5:06 pm GMT+7
Vietnam's personal income tax brackets proposed to decrease from 7 to 5
Vietnam’s Ministry of Finance (MoF) has proposed reducing the number of personal income tax brackets from seven to five, while widening the income ranges for each bracket.
Finance - Mon, July 21, 2025 | 4:11 pm GMT+7
Vietnam's leading broker SSI appoints 37-year-old CEO
Chairman of SSI Securities Nguyen Duy Hung has called the appointment of Nguyen Duc Thong as new CEO "a strategic move aimed at propelling the company into a new phase of breakthrough development".
Companies - Mon, July 21, 2025 | 2:21 pm GMT+7
Vietnam fertilizer major PVFCCo approves massive bonus share issuance
After finalizing the record date for a 15% cash dividend, Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My Fertilizer), a subsidiary of state-owned Petrovietnam, will issue bonus shares at a striking rate of 73.74% on August 8.
Companies - Mon, July 21, 2025 | 12:37 pm GMT+7
New apartments under $2,300 per sqm gradually disappear in Vietnam
New apartments priced under VND40 million ($1,530) per square meter have completely disappeared from the markets of major Vietnamese cities in recent years, and now those below VND60 million ($2,295) are almost non-existent.
Real Estate - Mon, July 21, 2025 | 11:43 am GMT+7
Storm Wipha nears northern Vietnam with heavy rain, strong winds and flood risk
Tropical Storm Wipha (Storm No. 3) is closing in on northern Vietnam after entering mainland southern China early Sunday, bringing heavy rains, strong winds, and heightened risks of flash floods and landslides across large parts of the country.
Society - Mon, July 21, 2025 | 11:15 am GMT+7
Motorbike 'king' Honda and the race towards electric two-wheelers
Dominating Vietnam’s gasoline-powered motorbike market with a 83% share, Japan’s Honda - long considered the "king of motorbikes" - appears to be lagging in the electric motorbike race.
Companies - Mon, July 21, 2025 | 8:00 am GMT+7
Vietnam's pharma major Imexpharm sees profit surge on OTC sales recovery
Imexpharm Pharmaceutical JSC (IMP) has reported a strong profit rebound in the second quarter of 2025, driven mainly by a resurgence in the over-the-counter (OTC) sales channel, following a subdued period during 2023-2024.
Companies - Sun, July 20, 2025 | 2:32 pm GMT+7
SCG-backed $5.4 bln petrochemical complex in southern Vietnam set to restart operations in August
The $5.4 billion Long Son Petrochemicals Complex, located in Long Son commune, Ho Chi Minh City, is expected to resume full operations this August after a period of temporary suspension due to market fluctuations.
Industries - Sun, July 20, 2025 | 10:07 am GMT+7
At least 38 people die in northern Vietnam boat capsizing incident, 10 rescued
Ten people have been rescued following a tourist boat capsize in Ha Long Bay, northern Vietnam due a sudden thunderstorm on Satuday afternoon, while 38 others died and five are still missing.
Society - Sun, July 20, 2025 | 9:51 am GMT+7
Vietnam's biggest gasoline retailer Petrolimex appoints new general director
Luu Van Tuyen, deputy general director of Petrolimex, Vietnam's biggest gasoline retailer with about 50% domestic market share, has been appointed general director for five years, starting from Friday.
Companies - Sun, July 20, 2025 | 8:00 am GMT+7
13th Party Central Committee wraps up 12th plenum
The two-day 12th plenary session of the 13th Party Central Committee concluded on July 19 afternoon, fulfilling the agenda set out at the start of the meeting.
Politics - Sat, July 19, 2025 | 5:15 pm GMT+7
