Increasingly Attractive Investment Destination

9:04:14 AM | 3/8/2020

With the effort to promote the image of an attractive, open investment environment, Vinh Phuc Industrial Parks (IPs) have become a destination chosen by many domestic and foreign businesses for the post- Covid-19 pandemic period.

According to the plan approved by the Prime Minister, Vinh Phuc province currently has 18 IPs, covering over 5,200 hectares and 32 industrial clusters covering an area of ​​over 600 hectares. Compared to neighboring provinces with the same advantage, Vinh Phuc has two more IPs than Bac Ninh and 12 more IPs than Thai Nguyen province. All industrial parks and clusters are conveniently located. Many IPs have attracted infrastructure investors, including: Khai Quang, Kim Hoa, Ba Thien, Ba Thien II, Binh Xuyen, Binh Xuyen II and Thang Long Vinh Phuc IPs. In particular, the industrial development not only thrives in the core areas including ​​Vinh Yen City, Phuc Yen City, Binh Xuyen District, Tam Duong, but also spreads to the Northern districts such as Lap Thach and Song Lo. The occupancy rate of IPs has also continued to increase, in which, Binh Xuyen, Kim Hoa and Binh Xuyen II IPs, have reached 100% in phase 1; Khai Quang IP has the occupancy rate of 98%.

Since the beginning of Khai Quang IP project, Vinh Phuc Infrastructure Development Joint Stock Company has always created favorable conditions for investors. The company not only helps businesses quickly access premises and factories, but also offers maximum support of closed services in the industrial park, and provides fee exemption for management and use of infrastructure to help businesses overcome difficulties. Therefore, Khai Quang IP is always in the top group of efficient production and business, with a stable occupancy rate on industrial land of over 97%. The space in this IP is always sought after by many investors.

Ground-broken in September 2017, the Thang Long Vinh Phuc IP project covers a total area of ​​more than 213 hectares. After 3 years of construction, in early November 2018, the project inaugurated the first phase, with an area of ​​about 100 hectares. With the financial capacity, the experienced management team from Thang Long Industrial Park Co., Ltd. and Japan’s Sumitomo Corporation, the investor has made it one of the model IPs of Vinh Phuc province. The advanced and modern transport system, power stations and sewage treatment system are a highlight, impressing and attracting many investors, including fastidious ones. It is expected that in the next 3 to 5 years, Thang Long Industrial Park Co., Ltd will focus on customer service, soon fill up 100% of the area, and at the same time maximize support to stabilize customers’ production by 2030. At that time, Thang Long Vinh Phuc IP will be the stopping place of about 80 secondary investors from Japan, creating 40,000-50,000 employees, contributing to boosting the province’s social and economic development.

Adjacent to Thang Long IP, Ba Thien II IP also has a rapid transformation. Right from the start of the project, Vina CPK Co., Ltd (the project investor) has always focused on the construction quality of technical infrastructure for production and the infrastructure for investor support services. Specifically, the system of permanent concrete roads, electricity supply, clean water supply, drainage, wastewater treatment plants has been synchronously constructed and given periodic maintenance by the company. The production and working environment is set up on the criteria of “Green - Clean - Nice - Environmentally Friendly” with a system of green trees arranged throughout the IP. With a convenient location for goods circulation, good technical infrastructure system, professional support service network and attractive investment marketing policies, Ba Thien II IP has now attracted 51 projects, including three DDI projects with a total investment of VND1,299.12 billion and 48 FDI projects with a total investment capital of US$804.54 million; 34 projects have been put into operation with the occupancy rate of industrial land reaching 63%.

Together with the specific preferential policies of Vinh Phuc province and the methodical and synchronous investment in technical infrastructure, the professional management method of industrial park infrastructure development companies has created a unique attraction for Vinh Phuc IP, contributing to improving the efficiency of local investment attraction.

By Thanh Loan, Vietnam Business Forum