The investment capital flow into industrial parks in Vinh Phuc province has increased strongly despite global economic fluctuations. This success comes from drastic directions of the Provincial Party Committee, the Provincial People's Committee, relevant agencies and localities to remove difficulties and obstacles for businesses and investors. Vinh Phuc continues to be a safe and attractive destination for domestic and foreign investors.
Ba Thien I Industrial Park has synchronous and modern infrastructure
Vinh Phuc was approved by the Prime Minister to establish 19 industrial parks with a total area of 5,487.31 ha. Up to now, 16 industrial parks have been licensed for construction with a total registered investment capital of VND17,536.4 billion (US$760 million) and US$246.82 million, with nine being in operation. The industrial park infrastructure is relatively synchronous and modern to meet the needs of domestic and foreign investors. Some have leased out 100% of industrial land. The remaining IPs are carrying out land compensation and site clearance for infrastructure construction to provide new spaces for new investment projects.
In the year to date, Vinh Phuc province-based industrial parks licensed nine FDI projects and allowed 16 existing projects to invest a total registered value of US$261.87 million (US$107.91 million from new projects and US$153.96 million from existing projects). The industrial parks also attracted five DDI new projects and allowed two existing DDI projects to invest VND4,627.5 billion (VND3,313 billion from new projects and VND1,314.5 billion from existing projects).
Mr. Vu Kim Thanh, Deputy Director of Vinh Phuc Industrial Zones Management Board, said: In order to attract more investment capital into industrial zones, the board has focused on localized investment promotion; and supported, guided and provided information for investors looking to invest in industrial zones. In May 2023, the agency instructed Nam Binh Xuyen Green Park Development Co., Ltd to revise the detailed planning of Nam Binh Xuyen Industrial Park; consulted the Department of Construction to guide the implementation of detailed construction plans in Ba Thien II and Binh Xuyen II industrial parks; coordinated with the Department of Natural Resources and Environment and the Provincial Land Registry Office to determine the construction area for DST VINA 2 Co., Ltd. to certify land use rights and other related rights.
Besides, the board advised and proposed the Provincial Party Committee and Provincial People's Committee to plan and develop Tam Duong I Industrial Park - Zone 3 into a high-tech park; reported to the Provincial People's Committee to ratify and approve funding plans for preparing a pre-feasibility study report on Chan Hung Industrial Park (Vinh Tuong); adjusted development plans for Lap Thach I and Lap Thach II industrial parks; revised detailed construction plans for Son Loi, Nam Binh Xuyen and Thang Long Vinh Phuc industrial parks; urged infrastructure developers to speed up land compensation and site clearance; carried out infrastructure construction and operation projects in Song Lo I, Song Lo II and Tam Duong I - Section 2, Son Loi and Nam Binh Xuyen industrial parks; and requested District People's Committees to speed up the investment progress of resettlement area construction for residents who left their land for industrial park construction.
In order to create a clean land fund for investors, the board continued to urge Housing Development and Trading Joint Stock Company to accelerate infrastructure construction investment in Ba Thien Industrial Park (Division I); and coordinated with investors and related agencies to accelerate the progress of land compensation, site clearance and infrastructure construction for Son Loi, Thai Hoa - Lien Son - Lien Hoa (phase 1) and Nam Binh Xuyen industrial parks. At the same time, it guided investment procedures, provided information for investors; expanded information channels on central and local newspapers, radio stations and social platforms about the province's investment policies.
In order to draw 20-25 projects with US$350 million in 2023, Vinh Phuc will continue to improve the investment environment; actively take action to remove difficulties for investors, especially in land compensation and site clearance, and create the most favorable conditions for investors to conduct investment research and carry out investment projects in industrial zones.
Tran Trang, Vietnam Business Forum
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