IZICO together with Ba Ria - Vung Tau Unlocking All Economic Forces

2:10:28 PM | 8/7/2015

Phu My 1 and Dong Xuan Industrial Zone Infrastructure Investment and Operation Company (IZICO) is a leading industrial zone infrastructure investor and operator in Ba Ria - Vung Tau province. After more than 10 years of construction and development, Dong Xuyen Industrial Zone and Phu My 1 Industrial Zone have become magnets for investment flows in Ba Ria - Vung Tau province, helping boost local economic restructuring and stimulate southern socioeconomic development.
Compared to other industrial zones in the province and the country, Dong Xuyen and Phu My 1 industrial zones have a lot of advantages in well-built transportation systems, ports and gas supply. Dong Xuyen Industrial Zone is located near to the Dinh River with a services port and Phu My 1 Industrial Zone situated near the Thi Vai - Cai Mep Port which can handle ships of 100,000 tonnes facilitate transportation and reduce transport costs for businesses. Particularly, Phu My 1 Industrial Zone, adjacent to National Road 51 and 30 km from blueprint Long Thanh International Airport, can be supplied by cheap low pressure gas sources.
Apart from a geographic location and infrastructure advantages, rent payment mechanism is very flexible (paid annually or paid in lump-sum for many years) for investors. The company puts a premium on environmental protection as it built a wastewater treatment plant with a daily capacity of 4,000 cubic metres in Phu My 1 Industrial Zone and another facility with a daily processing capacity of 3,000 cubic metres in Dong Xuyen Industrial Zone. Solid waste is collected and treated by certified units. Besides, IZICO always abides by contract terms signed with tenants who are believed to introduce good points of the two industrial zones to potential investors.
So far, the two industrial zones have attracted 129 domestic and foreign investment projects with a total registered capital of US$3.309 billion and VND23,109 billion (over US$1 billion), which have become strong driving forces for local socioeconomic development. In 2013, the industrial production value of tenants in these two industrial zones was VND35 billion. Tenants are employing some 15,000 workers and pay VND1,000 billion of taxes to the State Budget a year.
In addition, the two industrial zones have formed some strong manufacturing industries like shipbuilding, marine equipment manufacturing in Dong Xuyen Industrial Zone and electricity production and steel production in Phu My 1 Industrial Zone. Products made by tenants in the two zones are exported or used by local consumers, including Phu My power centre (electricity) and Phu My nitrogenous fertiliser plant. The infrastructure system of Phu My 1 Industrial Zone is interconnected with some ports in Cai Mep-Thi Vai port system and created a good infrastructure system that lays the stepping stone for the formation of Phu My New Urban Zone, Tan Thanh District, Ba Ria-Vung Tau Province. Currently, the occupancy rate is 100 percent in Dong Xuyen Industrial Zone and 85 percent in Phu My 1 Industrial Zone.
In the coming time, IZICO will give priority to projects using modern technologies, requiring little land, having ripple effects on industrial development, using environment-friendly technologies, and having high added value.
With its stable operations and well-established reputation and quality, IZICO has set ambitious development plans to 2016 and vision to 2020, targeting to become a powerful industrial one infrastructure developer and operator in Ba Ria - Vung Tau province and help the province draw more Japanese investors. Director Nguyen Van Dang said: "In the coming time, we will invest in other industrial zones or industrial clusters, expand its investment into various fields and complete utility services in two existing industrial zones to best serve tenants and workers by building offices for lease cultural and sporting centres, clinics, kindergartens and vocational training institutions. In my opinion, to catch the fancy of Japanese investors, apart from complete infrastructure systems, industrial zones must have good service systems, trade centres and showrooms for them to introduce their products, pre-built workshops, and skilled workers with a good command of Japanese language and culture, To achieve its objectives, in addition to the effort of the entire staff, IZICO hopes for the direction and support of the Provincial Party Committee, the Provincial People's Council, the Provincial People's Committee and relevant departments.”
Ngoc Thu