Dinh Vu IP Reaps Advantages

Dinh Vu IP Reaps Advantages

The Dinh Vu industrial park (IP) in Haiphong attracted five more investors with registered capital of about US$40 million in the first seven months of 2004, bringing the total number of projects attracted to the IP to ten projects with a total investment capital of US$94 million.

Dinh Vu IP is different from other IPs in the north as it has a direct link with a seaport, which greatly enhances its attractiveness. In 2004 the Dinh Vu Development Joint Venture Company has developed many major facilities which support the development of the petrochemical industry with a total investment of US$5.4 million. Major features include the expansion of the prop system for pipes and the expansion of docking stations capable of receiving 10,000 DWT ships. The prop system is designed with a height of 3.7 metres and a length of 1,000 metres for 29 pipes. It is the most modern model in northern Vietnam.

Duong Anh Dien, the vice chairman of the Haiphong People’s Committee, said that the Government planned to develop feasibility reports on the building of a deep water seaport in the area. At the same time, the city will focus on accelerating the building of infrastructure facilities, including water and electricity supply networks, the Dinh Vu seaport capable of receiving 20,000 tonne ships, and a 9.3 kilometre railway for the Dinh Vu economic zone.

The Dinh Vu IP is conveniently located five kilometres from the centre of Haiphong city, two kilometres from the Haiphong Seaport, 12 kilometres from Cat Bi Airport and eight kilometres from the Haiphong railway station. It is close to the extended National Highway 5, which has been upgraded with four lanes, and the international Haiphong-Hanoi-Lao Cai-Kunming (China) railway route. Land rent can be negotiated between the Dinh Vu IP and investment project owners based on the location and area of land, the type of project and its social benefits. Land rent can be as low as US$20 per square metre for 45 years. This is applied for investors who sign land rent contracts before December 2004 and for land in the third area of the Dinh Vu economic zone.

• T.G