Minh Hung III IP Well Prepared for Next Investment Wave

9:35:31 AM | 26/5/2021

Binh Long Rubber Industrial Park Joint Stock Company, established in 2008, is the infrastructure investor of Minh Hung III Industrial Park (Minh Hung commune, Chon Thanh district). With many advantages, modern infrastructure and good development strategy, Minh Hung III is considered a model industrial park in Binh Phuoc province, chosen by many domestic and foreign investors.

Attractive choice for investors

The 292.27-ha Minh Hung III Industrial Park is located along National Highway 13, near National Highway 14 - important traffic routes of Binh Phuoc province linking to Binh Duong province, Ho Chi Minh City, Central Highlands provinces and Cambodia (through Hoa Lu International Border Gate). The industrial park is located in the southern key economic region where abundant labor force and input supplies are competitive advantages to draw secondary investors.

In addition, Minh Hung III Industrial Park has modern infrastructure. Electricity, water supply and communication systems are available for tenants. The centralized wastewater treatment system is capable of treating 8,550 cubic meters a day, meeting A Standard before being discharged into the environment. A complete transport system connects directly to National Highway 13 with the 45-meter trunk road (N11) and National Highway 14. In the coming time, when Ho Chi Minh Road and the Trans-Asia railway are completed (passing through Minh Hung III), they will connect it with southwestern provinces and facilitate freight transportation.

With investment incentive policies offered by Binh Phuoc province, tenants may also access reasonable land rents. The company's employees always actively assist and instruct customers to carry out legal procedures, recruit workers and introduce service providers.

Therefore, Minh Hung III has to date attracted 26 investment projects (including 13 foreign-invested projects), hiring all 214.31 ha of rentable area. Notably, the US$160-million MDF wood factory - invested by VRG Dongwha MDF Joint Stock Company - is the largest MDF wood factory in Asia. The US$150 million footwear manufacturing and processing factory is invested by LONGFA Co., Ltd.

Opportunities ahead

Currently, as demand for land lease is increasing, Binh Long Rubber Industrial Park Joint Stock Company is seeking to expand the fully occupied Minh Hung III to meet tenants to expand their projects and introduce new investors to the expanded facility.

On January 14, 2021, the Prime Minister signed Official Dispatch 45/TTg-CN on second-phase expansion of Minh Hung III (577.53 ha). This important policy helps the company deal with the above difficulties and open up a new stage of development.

Mr. Huynh Van Thi, Deputy General Director of Binh Long Rubber Industrial Park Joint Stock Company, said the company is currently taking steps to prepare well for the expansion. At the same time, the company will introduce the new development to investors.

“With many procedures needed to be resolved in the coming time, the company hopes to receive support from all levels and branches of authorities to quickly launch the expansion to get well prepared for the next investment flow redirected from other countries. New tenants will help increase budgetary revenue, generate jobs and ensure social security in the locality," he added.

Remarking on the feasibility of the second phase of Minh Hung III, Thi pointed out that Binh Phuoc is located in the southern key economic region, with plenty of favorable conditions for industrial development. Particularly, becoming a modern industrial center and strongly attracting foreign direct investment funds are strategic goals of the province in recent years.

“By accelerating administrative reform and improving the investment environment, the province has gradually become a leading light in investment attraction. Besides, COVID-19 epidemic prevention and control is effective in the province. The province’s strong support and assistance for investors to deal with their emerging hardships to develop their business are important factors for local industrial parks to draw investment flows, including current Minh Hung III Industrial Park and the expanded one in the coming time,” Thi affirmed.

Source: Vietnam Business Forum