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Thursday, October 22, 2020

Huu Thanh Industrial Park in Long An gets off the ground

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HCMC – On June 6, the Vietnam Urban and Industrial Development Investment Corporation (IDICO) broke ground for the Huu Thanh Industrial Park project in Duc Hoa District in the Mekong Delta province of Long An, welcoming a new wave of investment and manufacturing in Vietnam post-Covid-19.

Nguyen Van Dat, chief executive officer of IDICO, told the Saigon Times that the establishment of the park is aimed at seizing the opportunities, including the investments from Europe and the United States to Vietnam, brought about by the coronavirus pandemic.

Dat said that investors from Europe and the United States impose strict requirements in terms of infrastructure quality and relevant services.

As such, to attract foreign investors, firms must meet their requirements with regard to infrastructure, sewage treatment systems, environment protection and other services including electricity, water, greenery and houses for employees.

Huu Thanh Industrial Park, covering an area of over 524 hectares, requires a total investment of VND5.2 trillion. When put into operation, the park that is adjacent to HCMC will help connect investors and manufacturers in the southwest and southeast regions and the Central Highlands region.

IDICO seeks to develop Huu Thanh Industrial Park into an eco-industrial park, noted Dat.

Addressing the groundbreaking ceremony, Tran Van Can, chairman of Long An Province, said that Huu Thanh Industrial Park is the third such park to get off the ground in the province since early 2020 and is expected to help the province attract more local and international investors.

Long An Province is home to over 11,790 active enterprises with a total registered capital of VND308 trillion. The province has also attracted over 1,950 domestic projects worth VND230 trillion and 1,050 foreign direct investment projects with a total registered capital of US$4.5 billion.

Also, at the event, IDICO signed memoranda of understanding with two firms including Nature Foods Co. Ltd and Kizuna JV JSC to lease land at the park.

IDICO runs 10 industrial parks nationwide, with a total area of over 4,000 hectares in Vinh Phuc, Bac Ninh, Thai Binh, Ba Ria-Vung Tau, Dong Nai and Long An provinces. The parks have attracted over 250 investors from the United States, Germany, the Netherlands, Japan and South Korea as well as from local firms.

By Minh Tam

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