Vietnam Formosa Industrial Park - Springboard for Southeast Economic Zone

 

The present-day prosperous My Xuan - Tan Thanh is built on a very poor area. 15 years ago when National Highway 51 was not upgraded and Vietnam Formosa Industrial Park was not founded, My Xuan Commune was quite poor as farmers lived by farming on infertile soil. But, things changed after Vietnam Formosa Industrial Park was built. Roads were expanded or upgraded. Residential areas mushroomed. After giving up agriculture, My Xuan villagers lived on services supplied to the industrial park. With its prime location and modern, synchronous infrastructure system, My Xuan A2 quickly became a strong magnet to domestic and foreign investors to bring modern projects to My Xuan - Tan Thanh, industrialise this poor area and thrive the new industrial and residential zone.

 

The success of Vietnam Formosa Industrial Park leads to the positive change in My Xuan - Tan Thanh. The industrial park has become a favourite destination of big domestic and foreign investors who have hired 93 percent of a total of 400.22 ha of land. Taiwanese investors have 23 projects, accounting for 95 percent of the total project, followed by South Korea and China. The presence of foreign investment projects has helped form advanced industrial production powered by modern technological lines, created a strong impetus for local industrial production and laid a stepping stone for the current development of services and urbanisation in My Xuan - Tan Thanh.

 

The first advantage of Vietnam Formosa Industrial Park is its prime location, adjoining National Highway 51, lying close to the regional deepwater port system and to its own port system. The industrial park is 55 km from Ho Chi Minh City, 45 km from Vung Tau, 2 km Go Dau and 6 km from Phu My Port. This superior advantage enables tenants to shorten transport time and minimise transport costs in exporting and importing activities.

 

Vietnam Formosa Industrial Park is a model industrial zone in Ba Ria - Vung Tau by design, modern infrastructure construction and environmental protection. In Vietnam Formosa Industrial Park, technical infrastructure items for investors like traffic, electricity, water supply, telecommunications, customs and fire prevention are synchronously built. Especially, to facilitate freight transportation for tenants, FIDC invested to build My Xuan International Port in Vietnam Formosa Industrial Park. The port, covering an area of 167 ha, is capable of receiving vessels of 30,000 - 50,000 DWT. This is a general port for containerised cargo and bulk cargo for tenants in Vietnam Formosa Industrial Park and customers in surrounding areas. This facility has reduced much expense and time for customers.

 

Apart from infrastructure quality, Vietnam Formosa Industrial Park always ensures the rules of natural ecology to minimise impacts on the surrounding environment, create a balanced ecological area and build a healthy environment conducive to human health. All these factors have really created the trust and a peace of mind of domestic and foreign investors and headed for the stable and sustainable development for investors and people here.

 

Being aware that protecting the living environment and production environment is decisive to the existence of the company and the sustainable and effective development of Vietnam Formosa Industrial Park, FIDC always attaches much importance to environmental protection issues while it attracts investors. The firm built a wastewater treatment facility with a daily capacity of 5,000 cubic metres in the first phase, which will be raised to 15,000 cubic metres a day in the second phase. After being treated, the water will be discharged into the Thi Vai River.

 

Apart from pre-built infrastructure, investors are also guided to complete investment procedures and other services when they carry out their projects. Being in Vietnam Formosa Industrial Park, tenants will receive incentives and support from Ba Ria - Vung Tau province as well as FIDC while paying the least for transport costs. In addition, the single-window mechanism introduced by Ba Ria - Vung Tau province, and the enthusiastic support of the Ba Ria - Vung Tau Industrial Zones Authority and other relevant bodies for emerging issues are also an important condition for investors to trust and choose Vietnam Formosa Industrial Park to locate their projects.

 

Especially, FIDC always gives priority to providing well-serviced accommodations of workers and experts working in the industrial park. In 2010, the company used 22 ha of land to build accommodations for workers and professionals in the industrial park, thus giving a helping hand to tenants to build a stable workforce to serve their long-term sustainable development plans.

 

Well-prepared and effectively-executed marketing is also an important contribution to the success of Vietnam Formosa Industrial Park. FIDC invited key investors first and satellite or supporting investors later when it launched investment promotion programmes. In addition, the Board of Directors targeted at Taiwanese companies and hired Taiwanese to introduce the industrial park to potential investors. This effort made Vietnam Formosa Industrial Park widely known to investors as a convenient, ideal and safe investment destination.

 

CEO Peng Bing said FIDC placed its trust in My Xuan and built Vietnam Formosa Industrial Park there. The 589.2-ha industrial park, also inclusive of the worker residence and the international port, is a driving force for economic development in the Southeast region. FIDC is calling investors to hire the remaining area of Vietnam Formosa Industrial Park and join hands to carry out a strategy that eyes investment capital into seaport and logistics industries of Ba Ria - Vung Tau province. In Vietnam Formosa Industrial Park, investors will have the opportunity to use modern infrastructure and deep-water port at the most competitive prices. Vietnam Formosa Industrial Park will accompany Ba Ria - Vung Tau on the way to build the province into an industrial and seaport hub in the future.