INVESTORS EXPLORE THE UNTAPPED POTENTIAL OF VIETNAM’S NORTH CENTRAL REGION IN EXCLUSIVE WEBINAR

Vietnam, 3 October 2024 – A highly informative webinar, titled "Unlocking Opportunities in the North Central Region of Vietnam for Investment," took place this morning from 8:00 AM to 10:00 AM. Co-hosted by WHA Vietnam, BIDV Vietnam, and Deloitte Vietnam, the event attracted a diverse audience of investors and business leaders from Japan and other countries, who came together to explore the investment potential of the North Central Region, with a particular focus on Nghe An Province.

The webinar provided valuable insights into the region's economic landscape, infrastructure development, and strategic opportunities, positioning it as a rising hub for investment in Vietnam. Presentations from experts at BIDV Securities, Deloitte Vietnam, and WHA highlighted the region’s growing significance in Vietnam's economic transformation.

Key Highlights:

Economic Overview by BIDV Securities

Mr. Tran Thang Long, Head of Research at BIDV Securities, delivered a comprehensive analysis of Vietnam’s macroeconomic landscape, with a particular focus on the North Central Region. He highlighted Vietnam’s accommodative monetary policies and fiscal measures, which have contributed to a stable economic environment in 2024. He also underscored the country’s strong foreign direct investment (FDI) growth, a 6.93% GDP expansion in Q2 2024, and robust trade performance, all of which reinforce Vietnam’s competitiveness as a destination for global investors.

The North Central Region, including key provinces such as Nghe An and Thanh Hoa, was noted for its steady GDP growth, advanced infrastructure, and extensive availability of large industrial land banks. Mr. Tran Thang Long emphasized that the region’s well-connected transportation systems, including expressways, seaports, and airports, position it to support further industrial development and attract increased foreign investment.

Global Minimum Tax (GMT) and Its Impact on Investors

Mr. Bui Ngoc Tuan, Partner at Deloitte Vietnam, provided a comprehensive update on the Global Minimum Tax (GMT) framework, which is poised to reshape the global tax landscape. He outlined the key implications for multinational enterprises (MNEs) operating in Vietnam, where GMT regulations will take effect in January 2024. His presentation focused on how Vietnam’s Qualified Domestic Minimum Top-up Tax (QDMTT) and other GMT mechanisms will impact MNEs, particularly those currently benefiting from preferential tax rates.

Mr. Tuan emphasized that while the GMT introduces new compliance challenges, the Vietnamese government has been proactive in preparing businesses for the transition. These efforts are aimed at ensuring that Vietnam remains an attractive destination for foreign investment, particularly in high-tech and strategically important sectors.

WHA Vietnam’s Vision for Smart-Eco Industrial Parks

Ms. Anchalee Prasertchand, Vice President of WHA Vietnam, highlighted WHA’s leadership in developing eco-friendly industrial zones, with a particular focus on WHA Industrial Zone 1 – Nghe An.

WHA Group is proud to spearhead the development of WHA Industrial Zone 1 – Nghe An, a Smart Eco-Industrial Zone that strategically unlocks investment opportunities in North Central Vietnam. With its superior infrastructure, lower land and labor costs, and access to a skilled workforce, Nghe An offers unparalleled advantages for global manufacturers. Positioned as a key manufacturing hub with strong government support, this region provides investors with a sustainable, cost-effective, and highly efficient environment. Our long-term vision, focused on sustainable growth and innovation, ensures that WHA Industrial Zone 1 will continue to be a prime destination for businesses seeking to thrive in Vietnam’s growing industrial landscape.

The webinar served as a critical platform for businesses and investors to explore the expanding opportunities in Vietnam’s North Central Region. It underscored the region's potential to become Vietnam’s next manufacturing hub, driven by strategic infrastructure enhancements, government incentives, and a skilled, abundant workforce.

By addressing vital topics such as Vietnam’s economic outlook, the impact of global tax reforms, and WHA’s sustainable development initiatives, the webinar equipped participants with actionable insights to make informed investment decisions. It also fostered international collaboration, particularly with Japanese investors, showcasing Vietnam's commitment to creating a favorable investment environment.

Interactive Session

The event concluded with an engaging Q&A session, where participants posed insightful questions to the speakers. Key topics of discussion included the growth potential of investment in the North Central Region, the implications of the Global Minimum Tax on Vietnam’s tax policies, and WHA’s support for tenants seeking to install solar rooftop systems within their industrial parks.

The webinar reinforced the North Central Region’s position as an emerging industrial powerhouse, offering investors valuable insights and the confidence to explore new opportunities in this rapidly developing area.

Webinar Co-host Parties:

• BIDV (Bank for Investment and Development of Vietnam), established in 1957, is one of Vietnam's largest financial institutions. It offers a wide range of services, including corporate and retail banking, investment banking, and insurance. Known for its strong support of Vietnam’s economic growth, BIDV plays a key role in financing infrastructure and business development projects. With a nationwide network and global partnerships, BIDV is a trusted partner for both local and international investors, providing tailored financial solutions and market insights through its investment arm, BIDV Securities.

• Deloitte Vietnam, a member of Deloitte Touche Tohmatsu Limited, is one of the leading professional services firms in Vietnam, offering a wide range of services in audit, tax, consulting, and financial advisory. Established in 1991, Deloitte Vietnam has built a strong reputation for helping businesses navigate complex challenges and achieve sustainable growth. The firm serves clients across various sectors, including manufacturing, real estate, banking, and technology, providing innovative solutions tailored to the local market

• WHA Group is a leading logistics and industrial developer based in Thailand, specializing in industrial estates, logistics, utilities, and power solutions. With a strong presence across Southeast Asia, WHA Group provides comprehensive infrastructure and investment solutions to support businesses in various sectors, including manufacturing, automotive, electronics, and renewable energy. WHA’s commitment to innovation and sustainability is reflected in its development of eco-friendly industrial zones and smart infrastructure initiatives. WHA Vietnam, a subsidiary of WHA Group, plays a pivotal role in expanding the company’s footprint in Vietnam’s fast-growing market. WHA Vietnam focuses on developing modern industrial zones, such as the WHA Industrial Zone 1 – Nghe An, which integrates sustainable practices like smart power systems, water reclamation, and green mobility