Binh Xuyen II IP - Attractive Destination for Investors

9:42:44 AM | 21/12/2021

Since its inception, Binh Xuyen II Industrial Park, invested and developed by Fuchuan Co., Ltd in Binh Xuyen district, Vinh Phuc province, has contributed to local economic development. The industrial park has synchronous modern infrastructure, and a green, clean, beautiful and environment-friendly manufacturing and working environment, making it an attractive destination for investors.

In 2014, Fuchuan Co., Ltd. was approved by the Vinh Phuc Provincial People’s Committee to invest nearly US$150 million in the first-phase of Binh Xuyen II Industrial Park, covering more than 42 ha, of which rentable commercial area is over 31.6 ha. Since it launched the project, Fuchuan Co., Ltd has focused resources on the quality of technical infrastructure construction and support services for secondary investors. After one year of construction, the company completed a synchronous infrastructure system, including 126-MVA 110/35/22 kV power station, a water supply system with a daily capacity of 20,000 cubic meters, a concreted and asphalted road system for convenient freight transportation and mobility, a rainwater drainage system and a separate wastewater and solid waste treatment facility with a capacity of 1,800 cubic meters a day. Besides, secondary investors will be provided with support services in finance, banking, customs and transportation and entitled to incentive policies and maximum support of Vinh Phuc province.

With a well-invested synchronous infrastructure system, space rentals are competitive. Lifetime land rent in Binh Xuyen II Industrial Park is US$10 per square meter lower than that in Binh Xuyen Industrial Park, US$13 lower than Khai Quang Industrial Park and US$15 lower than Ba Thien II Industrial Park. Particularly, the land rent is exempted until December 31, 2025 and the factory rent is from US$2.7-3.1 per square meter a month. Binh Xuyen II Industrial Park has attracted many high-profile domestic and foreign investors. Tenants in Binh Xuyen II Industrial Park mainly manufacture electronic components, office equipment, mobile phones and software and employ nearly 7,300 workers. Many are expanding their production scale and actively contribute to budget revenue and employment, featured by Korea Computer Co., Ltd., Young Poong Vina Vinh Phuc Co., Ltd. and Diostech Vina Co., Ltd.

Fulfilling its investment commitments and obeying regulations, Fuchuan Co., Ltd. has completed investment procedures for construction of Phoenix Town worker housing and public services in Ba Thien commune, costing more than VND1,000 billion, for thousands of workers in Binh Xuyen II Industrial Park and other industrial parks in Binh Xuyen district. In particular, implementing Decision 1839 dated July 23, 2020 of the Vinh Phuc Provincial People's Committee on revised detailed planning of Binh Xuyen II Industrial Park, Fuchuan Co., Ltd focused on completing procedures for the second-phase expansion by over 63 ha. The US$18 million investment was submitted to the Prime Minister for approval.

The second-phase infrastructure will be invested synchronously to make Binh Xuyen II an attractive destination for investors and help local employment and budget revenue.

By Vietnam Business Forum