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Dinh Vu


Last updated: Monday, May 21, 2018


IPC: Trailblazer in Integration

Posted: Thursday, June 15, 2017

Tan Thuan Industrial Promotion Company Limited (IPC) officially came into operation in 1989 when the country had just started its doi moi (renovation) policy and integration process into the world economy. From trailblazing and groundbreaking ideas of attracting external investment capital, IPC-initiated projects, with the starter being Tan Thuan Export Processing Zone (EPZ) followed by Phu My Hung New Urban Area (1993) and Nguyen Van Linh Boulevard (1996), have become the leading lights in FDI capital attraction in Ho Chi Minh City and created new foundations for economic, industrial and urban development mechanisms and policies. Its projects have turned abandoned uncultivable swampy lowlands into new exemplary modern industrial parks and urban areas of global class in the south of Ho Chi Minh City.

Projects make the name
Starting from the intention of central and city leaders, together with the research and innovations of its specialists to realise the doi moi policy to attract foreign investors and revitalise the poor Nha Be region, in 1991, IPC cooperated with Central Trading and Development Corporation (CT&D) to establish the 300-ha Tan Thuan Export Processing Zone.

Following this success, in 1993, IPC continued to join hands with CT&D Group to establish Phu My Hung Co., Ltd, build the 17.8-km 14-lane Northern Nha Be-Southern Binh Chanh Boulevard (present-day Nguyen Van Linh Boulevard) and develop residential sites along the boulevard, with site A being the modern Phu My Hung Urban Area.

Following the success of the above typical projects, with its experience and internal resources accumulated in the development process, IPC continued to invest and successfully develop Long Hau Industrial Park (2006) and Saigon Premier Container Terminal (2006), thus adding efforts to expand development space and transform the socio-economic structure to form a dynamic economic zone in the south of Ho Chi Minh City.

Anticipating that Hiep Phuoc Area and Soai Rap Canal would play an important role in the city’s development orientation, since 1993, IPC pioneered in research, made a proposal and gradually conducted a design survey and carried out the dredging of Soai Rap Canal. From the determination and initial results of the IPC, the dredging of the Soai Rap Canal to the depth of 9.5m was completed in 2015, creating a shorter shipping line for larger vessels docking the city, realising the strategy of connecting the city to the East Sea; and realising the development orientation of Hiep Phuoc area of “Port-related industries - central traffic interconnection expansion and completion - urban development”. This also has helped form a bustling Hiep Phuoc Urban-Industrial-Port Area in the south of Ho Chi Minh City.

The dissemination of trailblazing projects
The success of industrial parks, export processing zones, new urban areas and the expansion of Hiep Phuoc Port Urban Area opened the integration way for Ho Chi Minh City in particular and Vietnam in general. This was the way to build market-based open economic forms with strong ripple effects and create socio-economic development advantages and integrate the domestic economy with the world.

So far, IPC has been investing in four export processing zones and industrial parks, Tan Thuan Export Processing Zone (300 ha), Hiep Phuoc Industrial Park (908.4 ha), Long Hau Industrial Park (370 ha), and Linh Trung Export Processing Zone (327 ha). With the synchronous investment in export processing zone and industrial park system with the city’s approved development strategy (especially high-tech, environment-friendly enterprises), IPC collected approximately 600 enterprises that employed over 182,000 workers, accounting for more than 50 per cent of labourers in export processing zones and industrial parks in Ho Chi Minh City. Their import and export value grossed US$9.5 billion, accounting for nearly 67 per cent of the total import-export turnover of the city's industrial parks and export processing zones.

Regarding urban development, IPC cooperated to develop Phu My Hung Urban Area, which has attracted nearly 30,000 people to settle, about 43 per cent of whom are foreigners. This modern township has made a leap in urban strategic thinking of the metropolitan government and become a prime example of a successful urban development model across the country in terms of urban planning and architecture, as well as real estate management and business.
The success of IPC's industrial park and export processing zone system has caused a ripple effect on other industrial parks and export processing zones in the country.

IPC's projects have created many economic and social development values and received much special attention from domestic and foreign investors in terms of using efficiency land and capital efficiency. Economic and social values in Tan Thuan Export Processing Zone, Linh Trung Export Processing Zone, Long Hau Industrial Park, Phu My Hung New Urban Area and Hiep Phuoc Port Urban Area, have evidenced effective investment attraction and contributed to achieving the country’s industrialisation and modernisation.

Consistent with the city's development strategy
According to the Master Plan for Ho Chi Minh City Socio-economic Development to 2020, with a vision to 2025, the southern part of the city will be one of the two main development directions. Therefore, in the coming years, IPC will continue the mission of developing the south of Ho Chi Minh City with the focus on Hiep Phuoc Urban-Industrial-Port Complex.

In addition, in the coming time, IPC will accelerate implementation of urgent urban infrastructure development projects, contributing to solving transport needs of the region and the city, while continuing to promote its core competence through its investment in urban - port - logistic projects to further consolidate the sustainable development of the system.

The current success of IPC is rooted from its determination to implement innovative ideas of outward economic strategy, high responsibility of all-tier leaders, as well as enthusiasm of all officials and leaders of IPC. It is also the result of a consensus on development trends between the government and investors.

With its achievements in the past time, IPC has been honoured to be awarded many noble titles and prizes by the Party and State, including Third Class Labour Order (1998), Second Class Labour Order (2009), First Class Labour Order (2014), many certificates of merit and emulation flags. At the beginning of 2017, IPC General Director Te Tri Dung was honoured with the Third Class Labour Order and Certificate of Merit for his outstanding achievements and contributions to the cause of socioeconomic development of Ho Chi Minh City. Along with its IPC titles, the world-class urban area named Phu My Hung, built from a wild swamp, proved its worth by winning many prestigious international awards such as the "Best Overall Urbanised Area Planning in Asia" Award by the American Institute of Architects in 1997 and Tan Thuan Export Processing Zone, was voted as the most attractive industrial destination in the Asia Pacific by Euro Money Corporate Location Magazine.

Since its incorporation 28 years ago, IPC has maintained and steadfastly implemented the Ho Chi Minh City southward development strategy, and expanded development investment in synchronous industrial parks and export processing zones with compete transport infrastructure systems well-connected within their vicinities. From its creative ideas and perspectives in economic development, its capabilities of using high-quality human resources combined with scientific research and practical experience and turning ideas into feasible projects, IPC’s remarkable achievements with its important, large-scale projects contributed to the high economic efficiency for Ho Chi Minh City in particular and the whole country in general. IPC’s achievements over the past 28 years will be a solid foundation for adding wings to the dream of making Ho Chi Minh City a world-class megacity.

Anh Dao

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