Raising Occupancy Rate of IZs

Vinh Phuc has made great efforts to improve its administrative reform and investment environment, as well as to invest and develop infrastructure in industrial zones, providing available land for industrial zone developers and secondary investors. As a result, the occupancy rate of Vinh Phuc industrial zones is among the highest in the northern region.

Ba Thien I Industrial Park is invested synchronously and modernly 

The Government approved Vinh Phuc province to plan 19 industrial zones with a total area of more than 5,487 ha, of which 16 have been licensed for construction on a total planned land area of 3,157 ha, with 2,314 ha of rentable industrial land. Tenants have leased more than 1,293 ha, for an occupancy rate of 56%. Some industrial zones are fully occupied, such as Kim Hoa, Ba Thien II, Binh Xuyen II - Phase 1, and Ba Thien - Section II. Others have high occupancy rates, such as Khai Quang (96%), Binh Xuyen (97%) and Thang Long Vinh Phuc (86%).

According to the Vinh Phuc Industrial Zones Management Board, in the first nine months of 2023, local industrial zones attracted 29 new projects and 35 existing projects to invest in the province. As of September 15, 2023, the province had 468 valid investment projects from 18 countries and territories in industrial zones, including 107 domestic investment projects with nearly VND32,500 billion of investment capital and 361 FDI projects with US$6.27 billion. In the year to date, 18 projects have started operation, 13 projects are under construction; and 45 projects are preparing for factory construction. The occupancy rate in industrial zones will continue to increase in the near future.

This achievement was attributed to the continuous administrative reform, simplified investment licensing, innovative investment promotion, proactive participation in domestic and overseas central investment attraction workshops to seek opportunities, effective contacts with large corporations, and localized investment promotion. Moreover, besides synchronous modern infrastructure, industrial zone operators have offered attractive incentives and support policies.

To increase the occupancy rate of industrial zones, create jobs, and boost economic growth, in the coming time, relevant agencies and localities with industrial zones need to actively remove difficulties, fully resolve existing obstacles in administrative procedures, support investors and hand over available premises to them amid narrowing land funds in local industrial zones.

At the same time, it is necessary to accelerate the construction progress of new industrial zones, especially those with good locations and connections to attract big corporations to invest in the province.

By Quynh Ngoc, Vietnam Business Forum