The fast-growing province of Bac Giang is accelerating its economic growth to secure a strong position among the best performers in the country and attracting an impressive investment fund from investors, with a doubled FDI value in 2021 which ranked 7th in the country. Hoa Phu Industrial Park has a leading contribution to this growth as it has become an attractive destination in Bac Giang. Vietnam Business Forum’s reporter has an interview with Mr. Tran Sy Nam, General Director of Hoa Phu Invest Co., Ltd, the investor of Hoa Phu Industrial Park, about operating results as well as its development plans of the industrial park in the coming time. Ngoc Tung reports.
Could you please introduce the impressive performance of Hoa Phu Industrial Park after five years of operation in Bac Giang province?
Hoa Phu Industrial Park covers more than 207 ha in Mai Dinh, Chau Minh and Huong Lam communes, Hiep Hoa district. Located in the heart of the Red River Delta, a gateway for trade and merchandise exchange for regions throughout the country, the park is conveniently connected to major national highways such as National Highway 18 and Ring Road IV that conveniently lead to major northern economic centers.
To date, Hoa Phu Industrial Park has basically completed the technical infrastructure, particularly a synchronous traffic system, a modern water supply and wastewater treatment system and a green landscape.
In addition to preferential policies introduced by Bac Giang province, Hoa Phu Industrial Park supports investors to access and complete project procedures quickly. Besides, Hoa Phu Invest is always ready to support and guide customers to carry out legal procedures; assist them in recruiting workers; and introduce partners that provide services for their projects.
With a convenient location and well-prepared investment, Hoa Phu Industrial Park has attracted many investors. Up to now, 20 tenants have located their projects in the park and they hired over 85% of rentable land. They invested US$420 million or VND9,660 billion in Hoa Phu Industrial Park, largely coming from Singapore, South Korea, China, Hong Kong, Malaysia and Vietnam.
The industrial park has created jobs for thousands of laborers in Bac Giang and other provinces and actively boosted local socioeconomic development.
To seize opportunities from the shift of global investment flows whose investors are seeing Vietnam in general and Bac Giang as places of interest, what will Hoa Phu Industrial Park focus on its development goals in the coming years?
As an investor, Hoa Phu Invest sets a vision for industrial development which must be aligned with environmental protection. Accordingly, the company will strive to become an exemplary eco-industrial park of Bac Giang province in particular and the northern economic region in general, a brand created not only on modern and synchronous infrastructure, but also for its emphasis on a green sustainable industrial environment.
To do this, since its inception, we have paid special attention to infrastructure construction investment and infrastructure services in the industrial park, especially the focus on developing greenery, water drainage and landscape to meet strict demands of foreign investors.
In particular, the centralized wastewater treatment system is defined as one of important infrastructure items. To date, the wastewater treatment plant has completed both phases, with a total capacity of 8,600 cubic meters a day and ensures wastewater treatment for tenants in the industrial park.
Being persistent with its sustainable business philosophy, Hoa Phu Industrial Park has been highly appreciated by authorities and many organizations. In 2020, it was voted and recognized as the "Green Industrial Park" by the Vietnam Consultant Association of Information Economic and Trade (VCAIET).
In July 2021, the Bac Giang Provincial People’s Committee approved the revised plan for expansion of Hoa Phu Industrial Park. What does this policy mean for the development of Hoa Phu Invest in Bac Giang province in the coming years and how has the company prepared for this expansion?
Currently, the occupancy rate at Hoa Phu Industrial Park is over 85% while the leasing demand in Bac Giang is increasing. Especially, many tenants expect to expand their operations and readily introduce new customers and partners to the park. Therefore, our current top concern is carrying out the second-phase expansion of Hoa Phu Industrial Park to meet the leasing demand for industrial land and creating the best investment and business environment for domestic and foreign investors.
The approval by the Provincial People's Committee of Hoa Phu Industrial Park expansion shows the success and performance of the first-phase Hoa Phu Industrial Park and affirms the importance of industrial parks in the province. At the same time, this is also the foundation for Hoa Phu Invest to develop and expand the project.
Currently, we are focusing on taking steps to prepare well for the second-phase expansion. At the same time, we are informing and widely promoting investors interested in the expansion phase in particular and Hoa Phu Industrial Park in general.
With its experience and positive results in industrial zone infrastructure investment and business, Hoa Phu Invest is always ready to prepare resources to meet investors’ needs. We will always support and work as a reliable partner, promote our position as an attractive destination; and create a solid foundation for enterprises to boost business performance and achieve success.
What do you think about the current investment and business environment of Bac Giang province? What recommendations and suggestions do you have for provincial authorities in creating an enabling business environment and bringing satisfaction to investors?
Bac Giang province has focused on building an open investment and business environment and drastically improved its competitiveness for comprehensive development. All tiers of government always accompany, support and promptly remove difficulties for Hoa Phu Industrial Park. What makes us most satisfied is the provincial government care and support for investors to feel assured with their investment.
Given the complicated developments of the COVID-19 epidemic, its drastic and flexible approach, Bac Giang province quickly controlled the disease and prevented its spread in industrial parks after it emerged as a new epicenter of COVID-19 epidemic in the country. Currently, the province has effectively implemented the so-called "dual goal" of preventing the epidemic and boosting economic development, thus assuring investors with their manufacturing and business investment projects.
This is also the basis for Hoa Phu Industrial Park to enhance its investment attraction.
Hoa Phu Industrial Park hopes to receive support and companionship from the provincial government to particularly speed up site clearance for us to keep our project progress in time. This will be the foundation and motivation for us to further elevate our position as an ideal destination and help economic development of Bac Giang province in particular and of Vietnam as a whole.
By Vietnam Business Forum