Hoa Binh Industrial Zones Authority 15 Years of Promoting Investment

Hoa Binh Industrial Zones Authority was established under Decision 718/QD-TTg of the Prime Minister dated June 7, 2007. After nearly 15 years of development, the authority has gradually stabilized State management of local industrial zones, promoted investment inflows and helped develop local industrial zones and industries.

Hoa Binh province is adjacent to Hanoi, 80 km from Noi Bai Airport and 150 km from Hai Phong Port. The province has an area of 4,600 square kilometers, a population of 861,216, including 531,015 people in working age.

Hoa Binh has a temperate climate and solid ground structure. The province is home to 1,920-MW Hoa Binh hydropower plant with a water reservoir capacity of 9.5 billion cubic meters; a forest area of 200,000 ha; rich mineral resources, including 8 million cubic meters of granite, 700 million tons of limestone, 10 million cubic meters of clay. This is an important basis for the province to draw more investment funds and boost industrial development.

According to the Vietnam Industrial Zones Development Plan to 2015 and further to 2020, Hoa Binh province had eight industrial parks: Luong Son, Song Da, Mong Hoa, Nam Luong Son, Lac Thinh, Yen Quang, Nhuan Trach and Thanh Ha, covering a total area of over 1,510 ha. Its industrial parks are located along National Highway 6, Hoa Lac - Hoa Binh Highway and Ho Chi Minh Road, convenient for traffic, electricity and water infrastructure. Up to now, Luong Son, Song Da and Yen Quang industrial parks, with infrastructure invested, attracted 103 investment projects, including 27 FDI projects with US$528.1 million of the registered investment funds and 76 domestic direct investment (DDI) projects with VND11,084.45 billion. Nhuan Trach, Mong Hoa and Lac Thinh are conducting procedures for infrastructure investment licenses.

In recent years, the Provincial Party Committee and the Provincial People's Committee have paid special attention to industrial development and are committed to providing an enabling environment for investors. In 2021 - 2025, Hoa Binh will mobilize all resources, particularly private sources for development investment, infrastructure construction, linking industrial development with social development, urban infrastructure and support services, protecting the ecological environment and ensuring sustainable development. By 2025, the industry and construction sector will account for 54% of the economic value of the province.

Hoa Binh province will give priority to investment for technical infrastructure in industrial parks that have many favorable conditions for development like Yen Quang, Mong Hoa, Nam Luong Son and Lac Thinh. The occupancy rate in existing industrial zones will be raised to over 80%. The land area of industrial zones will account for about 1% of the province's natural land area or 4,600 ha.

To achieve its targets, besides planning, reviewing, evaluating and speeding up the progress and quality of industrial zone infrastructure investment projects, the province will attach much importance to attracting investment funds, and developing uninvested infrastructure in Mong Hoa, Yen Quang, Lac Thinh and Nam Luong Son industrial parks.

Simultaneously, it will mobilize all resources for the construction of industrial infrastructure systems, especially traffic infrastructure and wastewater treatment facilities.

The Hoa Binh Industrial Zones Authority will continue to carry out solutions to build a fair, open and transparent business and investment environment; reduce investment costs and facilitate operations of tenants in industrial parks; support them to complete infrastructure construction and remove difficulties in site clearance to draw investment flows.

By Vietnam Business Forum