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Last updated: Wednesday, November 22, 2017

 

Phu My 3 Specialised Industrial Park Ready to Catch Investment Flows

Posted: Friday, June 16, 2017

Phu My 3 Specialised Industrial Park (Phu My 3 SIP) is one of two model industrial parks built under the Cooperation and Development Agreement signed by Vietnamese Prime Minister Nguyen Tan Dung and Japanese Prime Minister Yoshihiko Noda in November 2011. To date, the perfect combination of strategic geographic location, international standard infrastructure, professional consultants and active support from the two governments has become a powerful ‘magnet’ to draw investors to Phu My 3 SIP.

Convergence of advantages
Located on 999 ha in Phuoc Hoa commune, Tan Thanh district, Ba Ria-Vung Tau province, Phu My 3 SIP has many pluses to catch the fancy of investors. Firstly, the master plan for Phu My 3 SIP was designed by professional international consultants, Nikken Sekkei and Nippon Koei, to serve all available industries from light industries to heavy industries, multi-sector industries, seaports and logistics. This advantage will help the park to attract various investment opportunities from the formation of the ASEAN Economic Community (AEC), as well as the upcoming Vietnam-Japan Economic Partnership Agreement (EPA).

Utility system
- Electricity: Supplied by Phu My Thermal Power Plant and Ba Ria Power Plant, with a total capacity of 4,100 MW, accounting for nearly 40 per cent of the country's electricity capacity. The underground cable system is installed and managed by Phu My 3 SIP.
- Water: Supplied by Phu My Water Supply Plant with a daily capacity of 100,000 cubic metres.
- Wastewater treatment system: Designed, built, operated, managed and maintained by Kobelco Eco Solutions. Treated water meets Standard A. Its daily capacity is 45,000 cubic metres.
- Condensate, liquefied petroleum gas (LPG) and natural gas (NG): Condensate and LPG are supplied from Dinh Co Gas Processing Plant and Thi Vai Cold LPG Depot via pipelines running across Phu My 3 SIP. NG is rendered by the Nam Con Son/Bach Ho pipeline system. NG and LPG are operated and delivered to tenants in the Phu My 3 SIP by Sojitz Vietnam Company. NG capacity is about 10-15 million cubic metres a month

- Internet: Operated and managed by KDDI Vietnam.

Another advantage of the industrial park is its favourable location and easy access to key traffic systems such as National Highway 51, National Highway 1A, Ho Chi Minh City-Long Thanh-Dau Giay Expressway, Bien Hoa-Vung Tau Expressway, Trans-Asia Road, inter-regional highways, inter-port roads and inter-industrial zone roads. Phu My 3 SIP is 65 km from Tan Son Nhat International Airport and 30 km from Long Thanh International Airport, helping customers save a lot of time and transportation costs. Moreover, it is very easy to reach Cai Mep-Thi Vai deepwater seaport system (only 4 km) capable of serving ships of 200,000 DWT and developing into an international hub for trade and transportation.

Apart from these advantages, Phu My 3 SIP has synchronous technical infrastructure and world-class utilities designed and built by professional contractors from Japan with the aim of best serving investors. Accordingly, the industrial park has four specialised functional zones: Supporting Industrial Park, Heavy Industrial Zone, Port & Logistics Zone, and Administrative & Service Area. The utility service area provides a peaceful and comfortable living environment for specialists and workers in the industrial park, including villas, apartments, hotels, commercial centres, post offices and restaurants. Other utilities such as schools, integrated support centres, meeting rooms and conference rooms are also being developed. Furthermore, Phu My 3 SIP is fuelled with rich natural gas, liquefied petroleum gas (LPG) and condensate, as well as assuring stable electricity and water supply for tenants.

Mr Kazama Toshio, Managing Director of Phu My 3 SIP, said, “By creating an effective added-value generating supply chain from the integration of complete infrastructure, geographic location, and natural resources, Phu My 3 SIP will allow customers to optimise production cost and unlock opportunities for advancement.”

Many attractive incentives for investors
Tenants in Phu My 3 SIP are given the best conditions to start business and production, as well as attractive incentive policies and practical investment support. Specifically, they enjoy special preferential tax rates, including a corporate income tax of 17 per cent applied for 10 straight years from the year they have revenue; corporate income tax exemption in two straight years from the year they make a profit, and a 50 per cent tax reduction in the next four years. They are also exempted from import duties on equipment, supplies, transport means and other commodities imported for the execution of investment projects or the service to the petroleum industry and equipment yet to be made domestically. Notably, land lease term at Phu My 3 SIP is 70 years instead of 50 years as in other industrial zones. Furthermore, land rents paid to the State coffers are exempted for up to 20 years.

In addition, Phu My 3 SIP provides comprehensive investment support services, offered in Japanese, English and Vietnamese, via a so-called one-stop service. The industrial park pledges to provide the highest incentives and best business conditions for tenants. The legal consulting and supporting team of the industrial park will assist customers to deal with all affairs relating to investment procedures, legal issues, recruitment, logistics and on-site customs services. With the business philosophy “Always support and succeed with partner and customers”, the Phu My 3 SIP Management Board always attends and stands ready to clear all difficulties and obstacles in the way for investors and acts as a bridge between investors and local authorities, helping simplify administrative procedures and reduce the waiting time for smooth business operation.

“Phu My 3 Specialised Industrial Park is a key project of Ba Ria-Vung Tau province, belonging to the Province-based Economic Growth Programme of the Japan International Cooperation Agency (JICA). As the chosen model industrial park of both Vietnamese and Japanese governments, Phu My 3 SIP has received valuable support from several government agencies.

 

The core values we always pursue include creating sustainable development with a strong focus on environmental protection, delivering values to customers and partners, as well as profoundly contributing to local socioeconomic growth. Phu My 3 SIP will devote constant effort to executing the vision of becoming a world-class specialised industrial park, fulfilling the expectations of both governments, and offering optimum quality for our customers.

 

Mr Kazama Toshio-Managing Director of Phu My 3 SIP

To date, Phu My 3 SIP has completed the first phase of construction with world-class infrastructure and utilities for investors. Managing Director Kazama Toshio said, Phu My 3 SIP has handed over 40 ha of land with complete technical infrastructure to Nitori Ba Ria-Vung Tau Co., Ltd affiliated to Nitori Holdings of Japan and is promoting land handover to other investors. “Phu My 3 SIP will continue to step up its working programmes with the Governments of Vietnam and Japan, accelerate international cooperation and investment promotion to welcome the wave of investors from Japan and other countries, offer more incentives to corporate customers, and create socioeconomic growth momentum for Ba Ria-Vung Tau province in particular and the southern key economic region in general,” he said.

Mr Kazama Toshio, Managing Director of Phu My 3 SIP, is a top-notch specialist with more than 20 years of experience in operating, managing and developing strategies for industrial parks in Thailand, Indonesia and Vietnam. He is also a senior advisor to Japanese representative agencies.

Thanh Tung








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