Vietnam customs authority grants preferential treatment status to China’s Luxshare-ICT
The General Department of Vietnam Customs has granted a three-year preferential treatment status for China-invested Luxshare-ICT (Van Trung), increasing the number of recipient firms to 75.
The decision was announced on Wednesday by customs authorities of Bac Ninh province, who are in charge of customs procedures for the northern provinces of Bac Ninh, Thai Nguyen, and Bac Giang.
Luxshare-ICT executives receive a decision granting the company preferential treatment status in Bac Ninh province, northern Vietnam, September 11, 2024. Photo courtesy of Hai Quan (Customs) newspaper.
The special status can reduce processing time for customs clearance, enhance product checks during customs processing, and provide priority in tax procedures. Businesses will also receive round-the-clock attention from the customs department.
Luxshare-ICT (Van Trung), a subsidiary of Chinese electronics giant Luxshare-ICT, began operating at Bac Giang’s Van Trung Industrial Park in 2019. It has so far processed 127,000 customs clearance orders with a total import-export figure of over $20 billion.
The company’s total investment has reached $520 million, and it has employed 32,000 people.
In August 2023, Luxshare-ICT (Van Trung) received an environmental license for its earphones project in Bac Giang; after an investment certificate granted for the $180 million project in September 2019. The registered investment capital was then revised up to $190 million.
The 36.1-hectare project will have an annual capacity of 20 million components for Bluetooth earphones, smartphones and electronic devices, including one million smartwatches and 35 million Bluetooth loudspeakers. The firm has registered to export all its products.
Also in Bac Giang province, Luxshare-ICT (Vietnam) Limited, another subsidiary of the Chinese electronics giant who is also an Apple supplier, plans to put a $504-million project into operation in July 2026.
The company said that it aimed to complete administrative procedures in July-October 2024, renovate factories and install equipment from November 2024-December 2025, initiate trial production from January-June 2026, and enter official operation one month later.
The existing factories began operating in 2023, employing 21,550 people. After the latest expansion, this will rise to 47,260 people.
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