Vietnam lost $3.6bn investments from Intel and LG Chem due to insufficient incentives; Intel shifted to Poland, LG Chem to Indonesia.
Vietnam lost $3.6bn investments from Intel and LG Chem due to insufficient incentives, with Intel shifting to Poland and LG Chem to Indonesia. Vietnam's Ministry of Planning and Investment is now planning an investment incentive fund to address these issues. Intel initially proposed a $3.3bn project but asked for 15% cash support, while LG Chem sought 30% investment cost coverage, both of which were denied.
July 05, 2024
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