Hanssip Attractive to Investors

Mr Nguyen Duc Thang, Deputy Director of Hanssip, said, this project is located at the southern gateway to Hanoi - a strategic position lying between Phap Van - Cau Gie Highway and National Road 1A and supports favourable conditions for production and trading activities. N&G Corp. chose Japanese, Nikken Sekkei Civil Engineering as the design consultant and Shimizu Corporation as the general construction contractor. This deeply specialised industrial park has a modern, harmonious environment and is attracting enterprises from various industries like mechanical engineering, textiles and garments, footwear, electronics, information technology, auto and automobile manufacturing and assembling, and high-tech industry support.

 

With Japanese-styled designs and planning for industry support standards, Hanssip is a complex of support industries, townships, services, logistics, commercial centres, banks, clinics, schools and other facilities to ensure good livelihoods and living conditions for workers, specialists and their families working in the industrial park. The park is built to create a momentum for the formation and development of Phu Xuyen satellite urban zone in accordance with the master capital plan towards 2050, approved by the Prime Minister. Hanssip also has spare land funds for the reallocation of hundreds of industrial manufacturing factories moving-out of downtown Hanoi, as guided by the Prime Minister and the Hanoi People’s Committee.

 

According to general regulations, Japanese and Vietnamese tenants will be supported on several fronts: Fast and simple procedures, product investment orientation, tax incentives, personnel training support and specially credit priority for production and business investment.

 

Kazunari Kibe, Head of the Japanese business delegation, said that this project is highly feasible because of its favourable conditions like geographical location and convenient access for traffic. However, he noted that this delegation of small and medium enterprises (SMEs) generally want to see initially completed infrastructure. The Hanssip project has just completed site clearance and the ground clearance stage. The visitors therefore do not have specific plans [for investment here] but they only survey the market.

 

He shared that a majority of Japanese firms, especially SMEs, are very interested in investing in the Vietnamese market because of the many advantages such as low labour costs, tax incentives, and low land rents. Nevertheless, he also expressed his concerns about cumbersome investment procedures handled through many stages and levels, resulting in costly time delays. Also, many Vietnamese projects fail to fully meet the conditions and requirements from Japanese investors and they are thus not keen on creating new projects. Specifically, when Japanese investors work on a new investment project, apart from basic conditions such as infrastructure, traffic, investment incentives, they also want that project completed as a small township with a series of services such as health care, entertainment and education at the project site. This will make workers feel at ease with their jobs and strengthen attachment to their employers - important conditions for sustainable development , something Japanese investors always want.

 

On this occasion, the delegation also had a meeting with Dr Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI). At the meeting, he said that the Vietnamese government would continue to provide incentives for foreign investors, including Japanese investors. He said, with its functions, VCCI would present the aspirations of foreign investors to the Vietnamese Government and create favourable conditions for mutually beneficial cooperation.