Minh Hung III Industrial Park - Stepping Stone for Investors’ Success

7:48:35 AM | 9/21/2011

With most favourable investment attraction policies of Binh Phuoc province, full legal support of Binh Long Rubber Joint Stock Company, and its synchronous infrastructure and service utilities, Minh Hung III Industrial Park is becoming an attractive destination for domestic and international investors.
Covering 291.52 ha and costing VND289 billion of infrastructure construction, Minh Hung III Industrial Park is endowed with favourable conditions for investors to do business, particularly its prime location that not all industrial parks have. It is located in Minh Hung commune, Chon Thanh district, Binh Phuoc province, just 90 km from Tan Son Nhat Airport and 60 km from the centre in Binh Duong province. It has favourable access to traffic systems, like National Road 13 to Ho Chi Minh City or to Hoa Lu Border Gate with Cambodia. National Road 14 connecting to the Central Highlands, underway Ho Chi Minh Road linking to south-western region and the Trans-Asia railway will open up merchandise exchange opportunities not only for Binh Phuoc, but for the whole south-eastern region. Especially, Binh Phuoc is a rich source of resources and minerals, and is the convergence of Dong Nai, Song Be, Saigon and other rivers.
 
Thus far, the construction of infrastructure system inside Minh Hung III Industrial Park is being completed by Binh Long Rubber Industrial Park Joint Stock Company. The industrial park is connected to National Road 13. Roads inside the park are 2-4 lane roads with the width of 24 - 28 metres. The park uses national 110/22kv middle-voltage power grids, with prices fixed by Binh Phuoc Power Company. Water supply system is capable of supplying 9,000 cubic metres a day for tenants inside the park. Wastewater treatment plant is designed to process 8,550 cubic metres a day and treated water meets Class A, TCVN5945:2005 standards before being discharged into the environment. The park also has a modern solid waste collection system. The communication system is connected with the Chon Thanh district switchboards. Labour force in the province and regional provinces is abundant, with high-level workers training in different environments.
 
Besides, the industrial park has many support facilities like inside customs offices, inland clearance depot (ICD), standard warehouses and factories, worker and specialist houses, filling stations, catering services, banks, vocational training establishments, schools and hospitals to help investors to do extra works with the least expenditure and time.
 
In addition to prime location, standard infrastructure, smooth traffic connectivity, sufficient services and utilities, Minh Hung III Industrial Park is also attractive for its low labour cost. Above all, the park has attractive investor-friendly mechanisms and policies like low rentals and single-window administrative procedures. Furthermore, investors will be exempted from registration fees when they register for establishing companies here.
 
With such tremendous potentials coupled with special incentives granted by the Binh Phuoc government and Binh Phuoc Rubber Industrial Park Joint Stock Company, Minh Hung III Industrial Park has signed a land lease contract with South Korea’s DongWha to build a medium-density fibreboard (MDF) factory with annual capacity of 300,000 cubic metres. This US$125 million joint venture between the State-owned Vietnam Rubber Group and DongWha Group is considered the largest MDF wood factory in Southeast Asia. Many other investors have also registered to rent land in the park and are providing jobs for local people.
 
According to the development orientation of Binh Phuoc province, the economy will continue to be restructured with a higher proportion of industry and services; thus, the development of industrial zones will change the local workforce structure as people living on agriculture will be able to find job opportunities in other economic sectors. In response to the provincial development, Minh Hung III Industrial Park is ready to house companies investing in clean, environment-friendly industries. Prioritised industries include industrial engineering, high-tech, machine assembly and manufacturing, electricity, electronics, telecommunications, information technology, pharmaceuticals, cosmetics, high-tech rubber, textiles, building materials, ceramics, timber processing, paper, furniture, agricultural foods, seafood, handicrafts, consider goods production. The industrial park supports developing industry together with sustainable environment protection, while promoting investment, industrial production and socioeconomic development of Binh Phuoc province. The investment promotion staff at Binh Long Rubber Industrial Park Joint Stock Company is ready and willing to support investors to complete all necessary procedures to start their business operations as soon as possible.
 
Binh Phuoc province is calling for investors to tap local advantages and building new industrial zones to gather available resources to create a “leverage” force for industry-weighted economic restructuring. The provincial investment attraction policy is a huge opportunity for Minh Hung III Industrial Park. Powered by strong confidence with available experience and reputation, it will certainly take advantage of these opportunities to grow rapidly and become an ideal address for domestic and international investors.
 
Song Thanh