Pho Noi Textile & Garment IP: Favourable Destination to Invest

Pho Noi Textile and Garment IP, with total capital of about VND650 billion, is located on 120.6 hectares and divided into two phases. It has completed the first phase of 25.17 hectares, all of which has been fully leased. 10 enterprises are in operation there. Aiming to become a comprehensive, modern and sustainably developed IP, Pho Noi Textile and Garment IP has comprehensively invested in technical infrastructure according to European standards with work items: transportation network, sewage treatment station with capacity of 10,000 cubic meter per day, possibly up to 15,000 cubic meter per day when needed; water supply plant with capacity of 5,000 cubic meter per day, which is being expanded to raise capacity to 17,000 cubic meter per day; communication network; electricity; telephone network and ADSL. In addition, there are also clinics, surgeries, well trained security staff all day and night, sanitation workers, as well as services around the IP: Hung Yen College of technology, Pho Noi hospital, Intimex supermarket, and ACB and Techcombank.

Pho Noi Textile and Garment IP plays a key role in Hung Yen Province’s strategy of attracting investment. Phase 2 to expand the area to 120 hectares is expected to attract more investors. By 2010, the company completed site clearance, in which 95 hectares is for building infrastructure and 5 hectares for accommodations of about 10,000 workers in the IP. Currently, the company is preparing for infrastructure construction, which is expected to be completed by 2012. Once phase 2 of Pho Noi Textile and Garment IP is completed, it will create about five to six thousand stable jobs. Besides contributing to the National Budget, enterprises investing into the IP will also increase Hung Yen’s revenue; as well as foster provincial economic development toward industrialization, modernization and global integration.

 

Pho Noi Textile and Garment IP is favourably located on the intersection of highway 5 and 39, which connect major economic hubs of the North. It is 28 km from Ha Noi Capital, 73km from Hai Phong Port; 40km from Noi Bai Airport; 90km from Cai Lan Port, 15km from Lac Dao Railway station. In addition, Pho Noi Textile and Garment IP is also near residential quarters, with highly-qualified labour provided by local vocational schools and technology universities.

 

Apart from its favourable location, open investment policies which best assist investors, Vinatex-ID also has many benefits for domestic and foreign investors investing in Pho Noi Textile and Garment IP, such as investors registering early for hiring land will have chance to choose location; investment procedure assistance will be provided in the IP; assistance in worker recruitment and legal procedures is also available.

Director Nguyen Thanh Quan said: “In order to create an attractive investment environment which brings success to investors, Vinatex-ID always focuses its comprehensive investment on technical and social infrastructure.” After 10 years of operation, Pho Noi Textile and Garment IP has brought 10 investment projects in textile and garment and light industry, in which there are two foreign invested projects, one joint venture and seven domestically invested. Total registered capital in phase 1 is about VND 4,000 billion; with over 2,000 jobs, which help foster social and economic development. The success of Pho Noi Textile and Garment IP is a good model for other industrial parks.

 

Vietnam is in the economic integration, which creates both opportunities and challenges for Vietnamese enterprises. To develop sustainably, any enterprise needs their utmost efforts as well as Government support policies such as land laws; tax for land-use in IPs; income tax etc…to facilitate stable development of domestic enterprises.