Cu Chi Industrial and Trade Investment and Development Co. - Trust of Reliable Investors

The Cu Chi Industrial and Trade Investment and Development Joint stock Company was equitised in September 2002. The company’s business scope consists of the development infrastructure of industrial parks, trade and construction of civil and engineering works, and real estate business at the Tay Bac industrial park. As the park is far from the city’s downtown, the company has focused on developing other features to attract investors. Accordingly, the company has perfected the industrial park’s infrastructure facilities, charging reasonable rent and offering excellent services. Land rent is US$1.2 per square metre per annum. In particular the company helped investors settle labour issues, providing consultancy and training services on request. Therefore, so far the Tay Bac industrial park has attracted 43 Vietnamese and foreign enterprises, occupying 100 per cent of the park’s area. Many enterprises have become operational.

 

After the success of the first phase, the company will develop the industrial park, second phase, on total 173 hectares with estimated capital of around VND 630 billion. Procedures are completed to pay compensation in 2006.

 

At the same time, the company is carrying out a project on building a resettlement area on 34 hectares near the Tay Bac industrial park. This project has a social meaning, helping people whose land has been recovered for the building of the industrial park resettle. The project has helped form a new modern residential area with complete technical and social infrastructure facilities.

 

Phan Van Toi, director of the company, said that to implement such big projects, the State should help enterprises to get loans to pay compensation, thus accelerating site clearance for a quick development of infrastructure.