LG Group currently has 3 subsidiaries (LG Display, LG Electronics, LG Innotek) in Hai Phong, accounting for 25% of Trang Due Industrial Park area; 53% of total employees; contributing 88% of total industrial park revenue and 65% of total accumulated investment capital. Enterprises create jobs for nearly 27,000 workers with an average income of 16.7 million VND/person/month. LG's total investment capital in Hai Phong reached more than 10.65 billion USD; Export turnover in 2024 reached 17 billion USD, accounting for over 50% of the city's export turnover.
At the meeting, the Chairman of the City People's Committee informed businesses about new specific mechanisms and policies, especially incentives in the Free Trade Zone and high-quality human resource training policies of Hai Phong. The city is committed to accompanying businesses in the spirit of "harmonious benefits, shared risks", creating the most favorable conditions for LG to expand production.
The Chairman of the City People's Committee requested LG Display Group to promptly deploy the remaining investment capital in the commitment of 5 billion USD; encourage LG Group's enterprises to continue expanding investment, attracting suppliers in the production chain. The city has prepared land funds in industrial parks, especially Trang Due 3, to welcome large-scale projects of LG and satellite enterprises.
In addition, the city hopes that LG Electronics will participate in solutions to build a smart city, digital transformation; research and establish a Research and Development (R&D) Center in Hai Phong. The city also requested LG Display to soon complete the dormitory area, and at the same time coordinate to support workers to buy social housing.
