Bao Minh Industrial Park Expands Investment to Catch New Inflows

9:39:05 AM | 18/7/2022

Following the success of first-phase Bao Minh Industrial Park, Bao Minh Industrial Park Infrastructure Investment Joint Stock Company decided to expand its area by 50 ha to 215 ha. Vietnam Business Forum's reporter has an exclusive interview with Mr. Nguyen Van Kiem, General Director of the Company, on operation and development prospects of expanded Bao Minh Industrial Park in the coming time. Nguyen Dung reports.

Could you please tell us about remarkable milestones of Bao Minh Industrial Park after more than 10 years of operation in Nam Dinh province?

Bao Minh Industrial Park is located on 155 ha in Vu Ban district - a key area of the province's industrial park development. It started official operation in 2010, a milestone that marked a more than 10-year operation of Bao Minh Industrial Park. To date, 13 tenants with 14 projects, including two FDI investors, have fully leased the rentable area of the park. Investing US$550 million (FDI fund) and approximately VND2,000 billion (domestic fund), they are hiring 14,500 local workers with an average montlhy individual income of VND6.5 million and paying about VND100 billion of tax a year.

On investment efficiency, Bao Minh Industrial Park is an exemplary success of industrial park projects in Nam Dinh province, based on all criteria such as infrastructure, investment quality and efficiency, environmental protection, land efficiency, worker income, sectoral restructuring and tax payment. It is currently ranked a top-class industrial zone in the north of Vietnam.

On December 20, 2021, Deputy Prime Minister Le Van Thanh signed Decision 2142/QD-TTg on investment for infrastructure construction of expanded Bao Minh Industrial Park. How does this policy mean to Bao Minh's development in Nam Dinh in the coming years and how has the company prepared for the expansion?

On December 20, 2021, Deputy Prime Minister Le Van Thanh signed Decision 2142/QD-TTg on investment policy on infrastructure construction and operation of Bao Minh Industrial Park. The company was assigned by the Provincial People's Committee to conduct the second-phase expansion with 46.68 ha. Currently, the site clearance is being completed by governmental agencies to clear the ground for the infrastructure developer to build necessary facilities to welcome new secondary investors right in 2022. This is very important to our company's development and this confirms our right choice of investment and development in Nam Dinh province.

After we got the investment policy from the government, we prepared personnel and material resources to embark on infrastructure construction as soon as we were handed over the clean ground so as to attract new investors in 2022 and reach full occupancy in 2023. Besides, from the beginning of 2022, we welcomed customers from South Korea, Japan, Malaysia, Taiwan and other countries seeking to locate their projects in expanded Bao Minh Industrial Park. They are now waiting for the handover of the ground for factory construction. In the expanded area, we target investors who manufacture high-tech products in line with green and sustainable development approach adopted by the industrial park and create jobs for local people.

How will the expanded Bao Minh Industrial Park meet technical specifications and technology standards to attract investors?

Given its development orientation (both initial and expanded areas), Bao Minh Industrial Park ensures Green - Clean - Beautiful criteria with environmental, sustainable and social criteria to move towards an ecological industrial park. We have carried out following consistent solutions: Having a water supply facility with a daily capacity of 40,000 cubic meters to immediately meet tenants' needs; having a centralized wastewater treatment plant with an additional capacity of 3,000 cubic meters a day; and all wastewater collected by a pressure pump pipeline system. Currently, surrounding communes and Vu Ban district have about 20,000 workers ready to work for manufacturing industries such as precision engineering, electronics, machines, and machine components. This is a huge plus for us when expanding Bao Minh Industrial Park.

Existing Bao Minh Industrial Park is already certified ISO 9001 and 14001:2015 certifications since 2017. The expanded area will achieve these certifications and other criteria to meet the strictest environment and quality management standards to provide the best environment for investors; continue to successfully apply digital transformation and ERP system to the expansion project.

We also encourage tenants in expanded Bao Minh Industrial Park to reuse at least 30% of wastewater after being treatment to save valuable resources. We will invest and research energy-saving solutions such as installing solar lighting systems, reusing treated wastewater for trees, and investing in a reverse osmosis filtration system to reuse wastewater after being treated. By 2030, we will reuse at least 30% of treated water in initial and expanded Bao Minh Industrial Park.

In order to seize the opportunity from the "wave" of global investment flows that Vietnam, including Nam Dinh, is a targeted destination, what development goals will Bao Minh Industrial Park focus on to foster its sustainable development in the coming years?

To seize this opportunity, we will focus on the goals that make Bao Minh Industrial Park (both initial and expanded areas) into a sustainable industrial park as follows:

- Coordinating with the Department of Labor, Invalids and Social Affairs, local vocational training schools and investors to propose solutions to human resources development to meet production requirements in the industrial park.

- Developing clean energy facilities. We will invest and research energy-saving solutions such as solar lighting systems, solar-powered irrigation pumping systems.

- Focusing on solutions to reduce emissions in production and business. We reuse treated water for plants, invest in reverse osmosis filtration systems to reuse treated wastewater. By 2030, we will reuse at least 30% of treated water in both initial and expanded Bao Minh Industrial Park.

- Participating in community awareness raising programs about clean energy and climate change.

- Strengthening coordination with trade unions at factories, local political and social organizations to join forces in social development programs for the poor, orphans and poor children.

- We also encourage tenants in the expanded Bao Minh Industrial Park to reuse at least 30% of treated wastewater to save valuable resources.

Do you have any ideas and suggestions for Nam Dinh province to create more favorable conditions for investors and businesses?

During our journey in Nam Dinh province, we have received invaluable support and assistance from all-level leaders.

In the coming time, we hope that the province will have strategies and projects to support small and medium-sized enterprises to apply digital transformation and improve their competitiveness; continue to side with industrial park infrastructure investors to boost investment flows; and woo big manufacturers to locate their projects in Nam Dinh province.

Thank you very much!

Source: Vietnam Business Forum