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Last updated: Thursday, March 23, 2017

 

Hoa Binh Industrial Parks- Engine of Socioeconomic Development

Posted: Tuesday, November 01, 2016


The formation and development of industrial zones is a ground-breaking step to create huge appeal in the economic picture of Hoa Binh province. Industry always plays a vital role in economic development. The efforts of the Hoa Binh Industrial Zones Authority helped make industrial parks become primary driving forces to push economic restructuring and accelerate rapid and continuous economic growth and become a decisive factor in the industrialisation and modernisation of Hoa Binh province.
Although global and domestic economies confronted tough difficulties in the 2010 - 2016 period, the Hoa Binh Industrial Zones Authority still effectively attracted investors into industrial zones. In this period, industrial zones in Hoa Binh province drew 43 projects, including 15 foreign-invested projects with a total registered capital of US$353.64 million and 28 domestic projects with VND5,221.75 billion of registered investment capital. As of October 2016, industrial parks in Hoa Binh province housed 61 projects, including 43 domestic direct investment (DDI) projects with VND7,994.8 billion and 18 foreign direct investment (FDI) projects with US$398.29 million.
In the past years, foreign tenants in industrial zones have made important contributions to local socioeconomic growth, created more jobs for workers and raised industrial production capacity. This has been an important force in economic restructuring towards increasing the share of industry and service.
 
To attract more investment capital in general and FDI capital in particular, the province must first of all have good infrastructure, including technical infrastructure and social infrastructure. Hoa Binh has detailed planning for eight industrial zones but it needs to increase investment for infrastructure inside and outside industrial zones. For external infrastructure, the most important is having high-quality traffic systems. For the time being, Hoa Binh - Hoa Lac Highway has been about 65 per cent completed and is expected to be fully completed in April 2017. This will serve as a leverage to pull more investment capital into Mong Hoa, Yen Quang and other industrial parks. For internal infrastructure, as infrastructure developers were increasingly hesitant to make investment, the Hoa Binh Industrial Zones Authority advised the Provincial People’s Committee to request the Provincial Party Committee to issue Resolution 09/NQ-TU dated May 26, 2014 on boosting the development of Hoa Binh industrial zones in the 2014 - 2020 period by mobilising all resources and economic sectors with appropriate investment forms to invest in synchronous technical infrastructure.
 
Based on this resolution, the Hoa Binh Industrial Zones Authority has introduced various measures to raise funds for infrastructure construction. The authority is using centrally and provincially funded budgets to build a main road to Mong Hoa Industrial Park. In the coming time, it will ask the Provincial People’s Committee to approve a fundraising mechanism for the construction of industrial zones to welcome new investors after Hoa Binh - Hoa Lac Highway is completed.
 
List of projects calling for investment capital in 2016-2020

No.

 

Project

 

Scale

 

Location

 

Registrar

 

1

 

Technical infrastructure investment and operation in Thanh Ha Industrial Park

 

282 ha

 

Thanh Ha town, Lac Thuy district

 

Hoa Binh Industrial Zones Authority

 

2

 

Technical infrastructure investment and operation in Nhuan Trach Industrial Park

 

213 ha

 

Nhuan Trach commune,

 

Luong Son district

 

Hoa Binh Industrial Zones Authority

 

3

 

Technical infrastructure investment and operation in Nam Luong Son Industrial Park

 

200 ha

 

Trung Son commune,

 

Luong Son district

 

Hoa Binh Industrial Zones Authority

 

4

 

Precision mechanical equipment, automotive and motorcycle parts production

 

Depending on projects

 

Such industrial parks as Bo Trai Song Da;

 

Luong Son; Mong Hoa,

 

Yen Quang, Thanh Ha

 

Hoa Binh Industrial Zones Authority

 

5

 

Civil electrical equipment production

 

Depending on projects

 

Such industrial parks as Bo Trai Song Da;

 

Luong Son; Mong Hoa,

 

Yen Quang, Thanh Ha

 

Hoa Binh Industrial Zones Authority

 

6

 

Electronic and IT component production

 

Depending on projects

 

Such industrial parks as Bo Trai Song Da;

 

Luong Son; Mong Hoa,

 

Yen Quang, Thanh Ha

 

Hoa Binh Industrial Zones Authority

 

7

 

Computer, mobile phone and communication equipment production

 

Depending on projects

 

Such industrial parks as Bo Trai Song Da;

 

Luong Son; Mong Hoa,

 

Yen Quang, Thanh Ha

 

Hoa Binh Industrial Zones Authority

 

8

 

 Textile, garment and footwear

 

Depending on projects

 

Such industrial parks as Bo Trai Song Da;

 

Mong Hoa, Yen Quang, Thanh Ha

 

Hoa Binh Industrial Zones Authority

 

9

 

Medium-density fibreboard (MDF) production

 

Depending on projects

 

Luong Son;

 

Mong Hoa, Yen Quang, Thanh Ha industrial parks

 

Hoa Binh Industrial Zones Authority

 

10

 

Food, beverage, agro-forestry product processing

 

Depending on projects

 

Mong Hoa, Yen Quang, Thanh Ha industrial parks

 

Hoa Binh Industrial Zones Authority

 

11

 

Solid and hazardous waste treatment plant

 

Depending on projects

 

Nam Luong Son Industrial Park

 

Hoa Binh Industrial Zones Authority

 

12

 

Unfired construction material production

 

Depending on projects

 

Mong Hoa, Yen Quang, Thanh Ha industrial parks

 

 

Hoa Binh Industrial Zones Authority

 








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