Yen Phong Industrial Park in Bac Ninh Province Attracts Investment from Big Enterprises

3:34:45 PM | 21/8/2009

Yen Phong industrial park cum urban area, invested by the Viglacera Land, has an area of 761 hectares including 351 hectares for the first phase. The industrial park, with a strategic location, has been attracting more and more investment from big enterprises despite of its dawn. 
Many foreign investors choose the industrial park
In mid-2008, the Vietnam Samsung Electronics Limited Company (under the Samsung group) chose an 100-hectare area at the centre of the Yen Phong industrial park for its investment. Samsung was not only an attentive point at the industrial park but also a point of convergence of other investors from South Korea who come to the industrial park to provide spare parts for Samsung.
The Samsung’s project to manufacture cell phone and telecommunication equipment in the Yen Phong industrial park No. 1 is a foreign direct investment (FDI) project which has a total investment of USD1 billion, uses an area of 100 hectares, has a life-span of 70 years, and attracts more than 24,000 labourers. 
As planned, the project will reap USD4 billion after three first years of operation. The project is estimated to have favourable conditions to quickly apply information technology science achievements; be suitable with the direction of attracting investment; foster service sector, especially, supporting service sector that serves the industry in the Bac Ninh Province.
Samsung is currently an investor implementing projects fastest. Right after completing procedures to rent land and receiving investment license, the firm starts implementation of their projects. Samsung allocated 48 hectares of land among 100 hectares rented from the industrial park to build a plant to research and develop hi-tech electronic products such as cell phone and telecommunication devices. The plant has a total investment of USD670 million and a stable annual capacity of 60 million products. In the early second quarter of 2010, the plant will start official operation. Samsung allocated the remaining of 52 hectares of land for its affiliates to produce spare parts for the main plant as well as sell products manufactured by the main plant.
The Yen Phong industrial park, previously, welcomed other investors from South Korea including Alpha Precision Company, Orion Vina, Em-Tech, Sam Young Technologics Ltd., Flexcom INC, Deaho Man Machine Interface Ltd., Seshin Electrionics Ltd., Soul Metal Ltd., Co., and Hanwool Technology A & P Concete Co. VN. Apart from Orion Company producing food, most of these investors produce precise and hi-tech products to serve Samsung Group.
The industrial park of leading facilities
Lying on the intersection point between the Highway 1A and the Highway 1B linking Ha Noi and Lang Son, linking the international Noi Bai airport and the Cai Lan deep-water port through the East-West economic corridor at the Highway 18, and linking Bac Ninh and Hai Duong and hai Phong through the Highway 38. The industrial park also lies nearby the international railway route from the South region to China through the Huu Nghi-Lang Son border gate, and the Yen Vien-Cai Lan high-speed railway route. The Yen Phong industrial park has to date completed its infrastructure and nearly been full with the participations of leading enterprises all over the world. Within less than one year, domestic and foreign enterprises have registered to rent nearly 200 hectares of land in the Yen Phong industrial park. South Korean enterprises booked to rent 134 hectares of land in the industrial park and pour nearly USD770 million into their projects in the park. Every year, the industrial park contributes hundreds of billion Vietnamese dong to the state budget as well as creates hundreds of jobs for domestic labourers.
The Yen Phong industrial park is changing day by day with the strong investment from investors and a great deal of new projects. To date, basic infrastructure has satisfied the demand of enterprises who have been injecting money in the industrial park. Bac Ninh province has established a post office with a switchboard including 4,000 numbers and the most modern information network to serve the demand of post office and telecommunication. The 110-kV power station started operation. The Vietnam Bank for Industry and Trade (Vietinbank) and the Bank for Foreign Trade of Vietnam (Vietcombank) are ready to help enterprises.
The urban area, with a total area of 54 hectares, nearby the Yen Phong industrial park, also brings a fresh nuance for this new region. Viglacera Land is now carrying out a project to build houses for Samsung’s laborer working in the industrial park. The project will be handed over within August of 2009. The Yen Phong industrial park is one among a small number of industrial parks in the northern region pays attention to accommodation for workers, creating an important point in attracting enterprises in the industrial park. These facilities will help the industrial park serve the maximum demand of enterprises in the park.
Viglacera Land is currently own seven leading industrial parks in the northern region, that is appreciated by investors. Dao Dinh Thi, director the Viglacera Land expressed his optimism on the progress of fulfilling 351 hectares of land in the first stage of the Yen Phong industrial park within 2009. In the near future, the Yen Phong industrial park will become a hi-tech electronic industrial park to produce commodities known all over the world.