Construction of the Song Cong II Industrial Park - Phase 2 in northern Thai Nguyen province officially commenced on March 10.

Covering an area of over 296 ha and requiring a total investment of nearly VND4 trillion (over $156.4 million), the project is being developed by Viglacera Thai Nguyen Joint Stock Company. The park is located in Ba Xuyen and Tan Quang communes, Song Cong city.

Speaking at the groundbreaking event, Mr. Nguyen Tran Tuan Nghia, Chairman of Viglacera Thai Nguyen, emphasized the park's vision of becoming a multi-sector concentrated industrial zone that aligns with principles of green growth, sustainability, and environmental friendliness.

The park prioritizes industries such as electronics, telecommunications, pharmaceuticals, supporting industries, new materials, clean energy, renewable energy, smart energy, and processing and manufacturing industries.

The project also offers attractive tax incentives for businesses investing in the park. These include a complete tax exemption for the first two years, followed by a 10% tax rate for the subsequent four years, and a 20% annual tax rate thereafter.

Additionally, businesses are exempt from taxes on: goods imported for the production of export goods; goods imported for scientific research and technological development; goods imported for environmental protection; goods imported to create fixed assets for investment incentive recipients; raw materials, supplies, and components directly used in producing IT products, digital content, and software.