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KCN Vietnam Group signs comprehensive partnership with VietinBank

Published

20 hours ago

March 17, 2025

KCN Vietnam Group JSC and VietinBank signed a comprehensive partnership agreement on March 14, marking a significant milestone in their long-term partnership.

KCN Vietnam Group signs comprehensive partnership with VietinBank

This collaboration lays the foundation for the implementation of strategic corporate credit financing packages, enabling KCN Vietnam to complete its industrial ecosystem, including expanding land banks, developing high-quality factories and warehouses, and prioritising the nationwide establishment of bonded warehouses.

With modern and sustainable industrial infrastructure that meets green energy standards, integrated with tailored corporate financing solutions and multidimensional financial support, the group aims to create a dynamic investment environment that fosters seamless business operations for domestic and international investors, contributing to Vietnam’s economic growth.

This comprehensive partnership sets the stage for both existing and potential customers of KCN Vietnam and VietinBank to enhance their production capabilities, scale their businesses, and access a wide range of financial solutions, especially trade finance. This synergy will optimise capital efficiency and deliver outstanding benefits to their customers.

Under the agreement, KCN Vietnam and VietinBank have committed to comprehensive and in-depth cooperation across their respective fields of operation over the next five years.

A key highlight of the agreement is VietinBank’s pledge to prioritise support for capital mobilisation and corporate credit activities aligned with KCN Vietnam’s business model and operations.

As a result, KCN Vietnam and its partners will gain access to VietinBank’s credit facilities with flexible interest rates, terms, and loan conditions. Additionally, both parties have agreed to explore the implementation of various financial solutions and services for KCN Vietnam’s customers.

These include corporate financial solutions such as payroll services, card issuance, domestic and international payment services, as well as loans for customers to purchase or lease industrial property developed by KCN Vietnam, offered with preferential interest rates and loan terms.

Hardy Diec, COO of KCN Vietnam Group, stated that this comprehensive partnership with VietinBank was a testament to the robust growth potential of KCN Vietnam Group and underscores its commitment to continuously improving service quality.

Hardy Diec, COO of KCN Vietnam Group

“This strategic move enables us to optimise financial solutions and enhance the experience for our customers and partners, particularly in the areas of credit and banking. It also lays a solid foundation for KCN Vietnam to sustain its growth momentum, supporting the government’s efforts to attract foreign investment while positioning Vietnam to capitalise on the current global production shift,” said Diec.

At the event, Tran Minh Binh, chairman of VietinBank, emphasized that phase one of VietinBank’s Digital Transformation Journey was initially planned for completion in 2028. However, the bank is accelerating this process, with 108 initiatives set to be completed by September 2026, two years ahead of schedule.

“In parallel, we have established a data and AI division with the goal of leveraging data-driven decision-making and effectively integrating AI across our operations. This will enable VietinBank to gain deeper customer insights, optimise experiences, and deliver comprehensive, tailored financial products and services,” said Binh.

Founded in 2021, KCN Vietnam Group has rapidly expanded its footprint over the past four years, covering an industrial land bank of over 300 hectares.

The group’s portfolio comprises 10 high-quality, ready-built warehouse and factory projects strategically located in key industrial zones across both southern and northern Vietnam. These include DEEP C (Haiphong city), Thuan Thanh 3B (Bac Ninh province), Ho Nai (Dong Nai province), Phu An Thanh (Long An province), Song Than 3 (Binh Duong province), Phuc Dien and An Phat (Hai Duong province), and Tan Hung (Bac Giang province).

Strengthening ties with reputable partners like VietinBank marks a critical step in KCN Vietnam’s strategy to expand its portfolio and deliver a comprehensive suite of products and services, providing maximum support to existing customers and foreign enterprises investing in Vietnam.

Vietnam is emerging as a leading economic growth hub in the East Asia–Pacific region, driven by a robust export recovery and rising domestic demand.

With its strategic location and ongoing efforts to improve the investment climate, Vietnam is attracting substantial global foreign direct investment (FDI).

According to the Ministry of Finance, as of January 31, total registered FDI had reached $4.33 billion this year, a 48.6 per cent on-year increase. This growth serves as a key driver for the development of industrial real estate and the finance-banking sector, paving the way for strategic partnerships to capitalise on emerging trends.

Related Topics:Comprehensive Partnership KCV Vietnam Vietinbank

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E-tax system resumes full operations after temporary suspension

Published

3 minutes ago

March 17, 2025

Industrialzone.net

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

E-tax system resumes full operations after temporary suspension

The tax authority has stated that all systems are now running smoothly, ensuring seamless tax transactions for individuals, businesses and foreign entities. (Photo: baodautu.vn)

Hanoi – Vietnam’s electronic tax system has resumed full operations starting at 8am on March 17, after a temporary suspension for system upgrades and data restructuring, the tax authority announced.

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

During this period, certain services such as electronic tax payment (eTax), eTax Mobile and tax applications for individuals were temporarily halted, while other functions remained accessible.

Foreign businesses operating in Vietnam can now fully access the e-portal for foreign suppliers, which remained operational but may have experienced minor delays in processing transactions during the upgrade.

Director of the Department of Taxation Mai Xuan Thanh instructed tax departments to ensure secure data migration and a smooth transition, allowing businesses and individuals to resume using the e-tax system without disruption.

Project

Central Vietnam province aims to add 2,300 MW of wind power to development plan

Published

1 hour ago

March 17, 2025

Industrialzone.net

Vietnam’s central province of Quang Tri plans to add 1,800 MW of 43 land-based wind power projects and 500 MW of offshore wind power to the draft implementation scheme of the national power development plan VIII (PDP VIII).

The draft scheme also features 260.5 MW of hydropower, 119.6 MW of solar power, and 23 MW of rooftop solar power for self-consumption, Quang Tri authorities discussed last week.

Quang Tri's acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper. — Quang Tri’s acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper.

Until 2030, Quang Tri aims to facilitate power import of 2,000 MW from Laos.

Provincial authorities will also facilitate investors of 500 kV, 200 kV, and 100 kV power grid projects, in line with the deployment of wind, solar, gas-fired power, and imported power (from Laos) projects.

Addressing the meeting, Quang Tri’s acting Chairman Ha Sy Dong asked the Department of Industry and Trade to collaborate with investors to complete the applications for in-principle approval by March 20.

He also requested the Department of Finance to finalize the land recovery plan for site clearance by March 25.

Vietnam’s current PDP VIII has 6,000 MW of offshore wind power, including 500 MW in the central-central region.

In February 2025, Vietnamese Ministry of Industry and Trade proposed delaying the development of offshore wind power until after 2030, instead of meeting the initial target of 6,000 MW by 2030.

However, in March 2025, the Government requested that offshore wind power projects under the PDP VIII must complete by 2030.

Project

Manufacturing, processing push up industrial growth in five months

Published

3 hours ago

March 17, 2025

Industrialzone.net

Vietnam’s industrial sector experienced positive growth in the January-May period, with 55 out of 63 provinces and centrally-run cities nationwide reporting annual increases in the Index of Industrial Production (IIP), according to the General Statistics Office (GSO).

The GSO identified manufacturing, processing, and electricity production and distribution as the primary drivers of the growth. Provinces recording high growth included Phu Tho (31.2%), Bac Giang (24.9%), and Binh Phuoc (14.8%). However, some other provinces like Ha Tinh, Quang Ngai and Ca Mau saw respective declines of 9%, 8.25% and 2.5% in their indexes.

Overall, the national IIP in May continued its upward trajectory, rising 3.9% month-on-month and 8.9% year-on-year. The five-month period saw an yearly increase of 6.8%.

A deeper analysis revealed the processing and manufacturing industries as the key contributor to the growth, boasting a 7.3% rise and adding 6.4 percentage points to the overall increase. The electricity production and distribution sector also performed strongly, with 12.7% growth, contributing 1.1 percentage points. Additionally, the water supply, waste, and wastewater management sector went up 6.3%, adding 0.1 percentage point. However, the mining sector experienced a decline of 5.2%, resulting in a reduction of 0.8 percentage point in the overall growth.

Specific product categories within the processing and manufacturing sectors posted impressive growth. Production of rubber and plastic products surged by 27.4%, while electrical equipment saw a 24% increase. Production of chemicals and chemical products grew by 20.1%, followed by beds, cabinets, tables, and chairs (19.6%) and metal products (13.2%).

In light of these findings, the GSO proposed a series of recommendations to further bolster Vietnam’s industrial development. It urged the Ministry of Industry and Trade (MoIT) to prioritise a structural shift toward increasing the proportion of processing and manufacturing industries within the overall industrial sector, while simultaneously reducing reliance on the assembly and processing of imported products; enhance enterprise competitiveness and incentivise the use of domestically produced goods via technical barriers for certain imports.

Additionally, the GSO recommended that the MoIT refine key institutions such as the Key Industrial Law and the Law on Chemicals. Expediting the disbursement of public investment capital and hastening crucial projects in the fields of electricity, oil and gas, manufacturing, processing, and mining are also highlighted as crucial steps.

Head of the GSO’s Industrial and Construction Statistics Department Phi Thi Huong Nga suggested that localities should launch more stimulus and promotion schemes to increase purchasing power while helping industrial firms find partners and expand markets through trade exhibitions.