Vinh Phuc's industrial parks capitalize on their favorable location and significant infrastructure investments, paired with flexible policies that streamline investment and operations. This advantage sets Vinh Phuc apart from neighboring regions, establishing it as a top choice for investors seeking efficient and well-positioned industrial sites.
Khai Quang Industrial Park
As the first industrial real estate project in Vinh Phuc to be carried out through a land use rights auction, Ba Thien I Industrial Park, developed by Housing Development and Trading Joint Stock Company (HDTC), spans over 247 hectares. This includes 152 hectares for industrial use, 15 hectares for service and office space, nearly 7 hectares for technical infrastructure, over 42 hectares for green and water areas, and 30 hectares for transportation. To attract financially strong and modern management-focused secondary investors, the project features a VND2,500 billion investment in technical infrastructure, including a power supply system from the 110/22kV Thien Ke transformer station and a clean water treatment plant with a capacity of 14,000 m³/day.
Ba Thien I Industrial Park also features a centralized wastewater treatment plant with a capacity of 15,000 m³/day, designed to treat all wastewater from production enterprises to meet environmental standards. The park includes essential infrastructure such as internal fire protection systems, traffic management, lighting, and landscaping. Secondary enterprises in Ba Thien I benefit from preferential rental rates, management, and infrastructure maintenance fees, alongside investment incentives from Vinh Phuc province. These incentives include a 100% corporate income tax exemption for the first two years, a 50% tax reduction for the following four years, and import tax exemptions for eligible goods. Currently, nearly 30 enterprises, including Compal Vietnam, Daeduck Vietnam, and Cammsys Vietnam, are operating in the park, focusing on electronics, mechanical engineering, and logistics.
With its commitment to attracting investment and fostering a favorable, fair business environment, Ba Thien I Industrial Park has emerged as a sought-after destination for both domestic and international corporations. Its success in drawing substantial capital investments is driving significant economic growth for the province.
With its prime location - just 5 km from the Noi Bai-Lao Cai expressway, 20 km from Noi Bai International Airport, 45 km from downtown Hanoi, and 160 km from Cai Lan deep-water port - Thang Long Vinh Phuc Industrial Park offers exceptional accessibility. Backed by systematic investment from a major international corporation, it has become a magnet for both domestic and foreign investors, particularly from Japan. To date, the park has attracted 47 investors with over US$1.076 billion in total capital. Of these, 29 investors are operational, resulting in an industrial land occupancy rate exceeding 92%, making it one of Vinh Phuc's leading parks in capital implementation. Once fully developed, Thang Long Vinh Phuc Industrial Park is expected to host around 70 projects, predominantly from Japanese firms, creating approximately 10,000 new jobs.
According to the Vinh Phuc Industrial Parks Management Board, in the first seven months of 2024, Vinh Phuc's industrial parks attracted 24 new foreign direct investment (FDI) projects and 24 projects with increased capital, totaling US$377.2 million. This figure represents 90% of the investment from the same period in 2023 and 108% of the 2024 target. Additionally, nine domestic projects and five projects with increased capital were secured, amounting to VND2,960.53 billion. This is 58% of the investment compared to the same period last year and 197% of the 2024 goal.
As of July 15, 2024, Vinh Phuc's industrial parks host 495 valid investment projects. This includes 118 domestic projects with a total capital of VND37,724.64 billion and 377 FDI projects with an investment of US$6,720.89 million. Out of these, 413 projects are operational - 333 FDI projects and 80 domestic projects - representing 83.43% of the total. In July alone, nine additional domestic projects commenced production and business operations.
For August 2024, the Vinh Phuc Industrial Parks Management Board plans to issue investment registration certificates and adjust capital increases for 2-3 FDI projects, totaling approximately US$10-15 million. Additionally, they aim to issue new certificates and adjust capital for 1-2 domestic projects, with a combined registered capital of about VND50-100 billion.
By Nguyet Tham, Vietnam Business Forum
Vietnamese
October 2024
Hanoi