Dai Tu Industrial Park Resumes Operation

Dai Tu Industrial Park Resumes Operation

After staying fallow for four years, Dai Tu Industrial Park (IP) in Hanoi on May 18 resumed operation with the signing and ground-breaking ceremonies for the construction of two factories of Figra Vietnam (100 per cent Japanese-invested company) and a joint venture between Vietnam and China on producing leather products.

Dai Tu IP was invested by the Taiwanese IP Development Joint Stock Co. with total investment of USUS$12 million. Construction of the IP was started in 1997 and all infrastructure facilities of the IP were completed at the end of 2000. Over the past four years, Dai Tu IP had not been put into operation as shareholders of the Taiwanese company failed to reach a common scheme and way for the operation of the IP. Recently, the Taiwanese company agreed to co-operate with local Nam Duc Infrastructure Development & Investment Co. in managing, running and attracting investments into the Dai Tu IP.

Previously, the Dai Tu IP eyed only Taiwanese firms for renting land. Now, it focuses on three kinds of customers: Japanese small- and medium-sized companies that produce accessories for assemblers and manufacturers in Vietnam such as Toyota, Canon, Honda and Yamaha; Hanoi-based enterprises that have to move their factories out of the capital city; and local small- and medium-sized enterprises in Hanoi.

To make itself more attractive to partners, Dai Tu IP will build highly qualified workshops, which help investors reduce costs and time. It recently signed with the Hacom Bank to support Hanoi-based enterprises to borrow 70 per cent of their investments (with terms of 5-10 years) and help them in receiving licences for construction of high-rise buildings (5-9 stories) in the park.

According to Mr. Tran Ngoc Hung, deputy head of the department managing IPs & Processing Zones in Vietnam (under the Ministry of Planning & Investment), the operation of the Dai Tu IP will certainly create many chances for enterprises in the north of Vietnam. Dai Tu IP is 10 kilometres far from the central of Hanoi capital, 20 kilometres far from the Noi Bai international airport and has total area of 40 hectares along the Nguyen Van Linh Street, Long Bien district.

• K.P