SHP Partners with Hai Phong to Forge Attractive Investment Environment

11:26:59 AM | 6/25/2024

In recent years, Hai Phong has emerged as a prominent investment destination, particularly for high-quality foreign direct investment (FDI). This success owes much to the Saigon-Hai Phong Industrial Park Corporation (SHP), the developer of Trang Due Industrial Park. SHP has established state-of-the-art infrastructure, making Trang Due Industrial Park the largest of its kind in the city today.

SHP has established state-of-the-art infrastructure, making Trang Due Industrial Park the largest of its kind in the city today

Huge investment allure

Licensed on November 13, 2007, Trang Due Industrial Park, built on a total area of 401 ha in two phases, has now become one of the strongly developed industrial parks and the most attractive investment destination in Hai Phong City.

The industrial park has attracted more than 100 tenants with a total investment capital of more than US$9.5 billion, or an average investment rate of more than US$36 million per hectare, ranking first in the country. Notably, LG Group invested US$8.24 billion in Hai Phong City, earned a cumulative value of US$50.6 billion, secured an annual growth of 72% or an average annual increase of US$1.71 billion. LG's exports accounted for about 43% of the city's export value. Cumulatively, LG has paid US$530 million to Hai Phong's budget. This is also the most important project as it leads and promotes FDI funds in the city by drawing a series of high-quality satellite projects from such investors as Heesung, Haengsung, Dongyang, Bluecom, LG Chemicals, Ohsung and Dong A Hwasung.

To have that success, in addition to advantageous traffic connectivity, investment incentive policies and synchronous infrastructure system, SHP launched a business support department, including legal support, human resources, supply and security and order services to ensure stable factory operation in the industrial park.

Following the city's orientation, Trang Due Industrial Park has focused on attracting projects of high quality and added value. The company always selects and controls the quality of projects to make sure that the following criteria are met: High-tech electronics industries, supporting industries for high-tech industries and construction materials. The company restricts projects that pose threats to the environment.

Contributing to Hai Phong's development

Trang Due Industrial Park, currently employing over 55,000 local workers, spearheads SHP's vision for an integrated industrial park-urban area development model. Through initiatives like the Evergreen Trang Due social housing project, SHP addresses accommodation needs for workers within the park and neighboring areas, thereby igniting momentum for enhanced socioeconomic development across the region.

The project has 2,538 social housing units (ten 15-story apartment buildings on a land area of 31,369 square meters) with a total floor area of 176,886 square meters to provide dwelling for 9,137 residents. Technical infrastructure with roads, water supply, drainage, power supply, lighting, fire protection, tree and flower gardens and other amenities are invested synchronously and connected to the general technical infrastructure system of the Trang Due Urban Area - Commercial Services and Worker Housing Project.

Furthermore, to expand the area to meet the current space requirement of investors, the company continued to conduct research on the expansion of 687-ha Trang Due 3 Industrial Park in An Lao district. Trang Due 3 is aimed to build a modern, synchronous technical infrastructure system, harmoniously connected with Trang Due 1 and Trang Due 2 industrial parks.

Trang Due 3 looks towards modern - green - clean - beautiful goals, with all environmental elements met. Its planning also includes worker housing areas and synchronous auxiliary service utilities, worthy of being a model ecological industrial park of Hai Phong City.

Currently, SHP is urgently carrying out investment procedures to start construction and operation of the project soon. In 2024 - 2025, measurement, estimation, planning for compensation for site clearance and resettlement, execution of site clearance compensation, land allocation and land lease procedures will be implemented.

Remarking on the investment environment in Hai Phong, a representative of SHP Company said: During its operation, the company always receives dedicated attention and guidance from the Hai Phong Economic Zone Authority and relevant local agencies.

“We highly appreciate the reform of administrative procedures in the construction investment sector. This is the motivation and confidence for the company to feel assured of its business, continue to join hands to promote local and national socioeconomic development," the representative emphasized.

By Ngoc Tung, Vietnam Business Forum