Vinh Phuc Plans to Develop 27 IPs by 2030

Vinh Phuc province was allowed by the Prime Minister to form 19 industrial parks (IPs) with a total area of 5,487.31 ha. The province has to date established 16 IPs with a total area of 3,110.25 ha, which drew registered investment capital of VND15,548,018 billion and US$212.53 million.

Particularly, the planned industrial land area is 2,275.03 ha, including 1,757.2 ha of completely compensated, cleared and rentable land. Industrial parks already leased 1,287.03 ha of land or over 70% of the planned industrial area. Among 16 established IPs, nine are operational: Khai Quang (221.46 ha), Binh Xuyen (286.98 ha), Kim Hoa (50 ha), Ba Thien (325.75 ha), Binh Xuyen II - Phase 1 (42.21 ha), Ba Thien II (308.83 ha), Tam Duong II - Zone A (135.17 ha), Son Loi (257.35 ha), and Thang Long Vinh Phuc (213 ha).

The industrial zone infrastructure in Vinh Phuc province has been built synchronously to meet tenants’ needs, including wastewater treatment plants. Some industrial parks have leased out their rentable industrial land area while the rest are carrying out land compensation and site clearance to provide available land funds to new tenants.

The province is conducting land compensation and site clearance procedures for six new industrial parks approved for establishment by the province in the first quarter of 2021: Song Lo II (166.66 ha), Tam Duong I - Zone 2 (156.76ha), Song Lo I (177.36 ha), Nam Binh Xuyen (290.152 ha), and Thai Hoa - Lien Son - Lien Hoa – Phase 1 (145.27 ha). Particularly, Phuc Yen Industrial Park is carrying out procedures to select investors to implement development projects according to the Bidding Law and other relevant laws. Currently, the park has two tenants that hire 16.4 ha of land.

The Management Board of Vinh Phuc Industrial Parks said that Vinh Phuc province is expected to develop 23 industrial parks (four more IPs) in the 2021-2030 period and four more after 2030, bringing total industrial parks in the province to 27 with a combined land area of 6,200-7,000 ha. Vinh Phuc is devising Vinh Phuc Master Plan for the 2021-2030 period, with a vision to 2050, which will be added to the local industrial park development plan.

By Bao Ngoc, Vietnam Business Forum