With opening investment policies and favourable conditions created for investors by the Binh Phuoc Provincial People's Committee plus legal support provided by Binh Long Rubber Industrial Park Joint Stock Company, Minh Hung III Industrial Park has become a favourite destination of both domestic and international investors thanks to its synchronous infrastructure and utility services.
The 291.52-ha industrial park, which cost VND289 billion for infrastructure construction investment, is blessed with many advantages for investors. Minh Hung III Industrial Park, located in Minh Hung commune, Chon Thanh district, Binh Phuoc province, is 90 km from Tan Son Nhat International Airport and 60 km from the administrative centre of Binh Duong province. It has direct access to National Road 13 leading to Ho Chi Minh City and Hoa Lu Border Gate with Cambodia, to National Road 14 connecting to the Central Highlands provinces and to Ho Chi Minh Road that links to south-western provinces. In the future, the passing Trans-Asia Railway will open up trade development, not only for Binh Phuoc province but also for the Southeast region. Especially, the province is endowed with abundant resources, minerals and a meeting place of major rivers like Dong Nai, Song Be and Saigon rivers which create unparalleled advantages for Minh Hung III Industrial Park to attract investment capital.
Until now, the Binh Long Rubber Industrial Park Joint Stock Company is completing construction on technical infrastructure in Minh Hung III Industrial Park. National Road 13 is the primary access road for the industrial park. Internal roads have 2-4 lanes and are 24 - 28 metres wide. It uses national power grid with an exclusive 22-kv power transformer, and electricity tariffs are fixed by Binh Phuoc Power Company. The water supply system with a daily capacity of 9,000 cubic metres can serve all investor demand. The wastewater treatment plant with a daily capacity of 8,550 cubic metres meets Grade A, TCVN 5945:2005 standards in addition to a solid waste collecting system. The communications system is connected to the Chon Thanh Private Branch Exchange (PBX). The local workforce is abundant, experienced and skilful.
To save time and costs for investors, the industrial park also includes utility services like customs offices, ICDs, warehouses, workshops, houses for professionals and workers, fuel stations, catering services, banks, vocational training centres, schools and hospitals.
In addition to the prime location, standard infrastructure, convenient traffic connectivity, services and utilities, Minh Hung III Industrial Park is also attractive to investors for its abundant low-paid human resources. These are just necessary conditions for Minh Hung III Industrial Park to become a “promised land” and a favourite destination for investors. Policies, land rents and supports are sufficient conditions. Remarkably, investors are free from company establishment registration, accounting regime registration, customs procedures, investment certificates, and construction permits.
With abundant local potential and advantages plus special incentives from Binh Phuoc province and the industrial park operator, Minh Hung III has to date leased its land to a joint venture between the Vietnam Rubber Industry Group (VRG) and Dongwha Group of South Korea to build a medium density fibreboard (MDF) factory with an annual output of 300,000 cubic metres. This US$125 million project is the largest of its kind in Southeast Asia. Besides, the industrial park is housing many other projects.
According to the development orientation, Binh Phuoc province will increase the contributions of the industry and service sectors in the economic structure. Thus, the development of industrial zones will speed up economic restructuring and boost employment. Minh Hung III is giving high priority to investors with clean, environment-friendly technology working in industrial engineering, high technology, manufacturing, electricity, electronics, telecommunications, information technology, pharmaceuticals, cosmetics and high-tech rubber.
Song Anh
Vietnamese
