Policies in investment attraction and industrial factory construction in Vinh Phuc - Delco Construction

Policies in investment attraction and industrial factory construction in Vinh Phuc

If in 1998, Vinh Phuc had only 8 FDI projects, then by the end of 2019, the total number of valid projects was 384, with a total investment of 5.02 billion USD. This impressive growth comes from prime location, good infrastructure and attractive incentives for FDI enterprises.

Advantages in investment attraction and industrial factory construction in Vinh Phuc

Prime location

Vinh Phuc is located right next to Hanoi – the capital of Vietnam, is in the northern key economic region. The province is located next to Noi Bai airport, on an important traffic axis connecting the Northwest provinces with Hanoi and the Red River Delta, therefore the province plays a very important role in the economic development strategy of Vietnam.

The West of Vinh Phuc province borders Phu Tho province – the raw material area of fruit trees and industrial plants of Vietnam, while the North borders Thai Nguyen province – where there are many mineral mines serving the metallurgical, mining and heavy industries etc.

Cac KCN tai Vinh Phuc

Read more: Map of Vietnam’s key industrial zones

Transportation infrastructure system

Vinh Phuc province has a convenient transportation infrastructure system, including roads, railways and waterways.

  • Road: Vinh Phuc’s road network includes 1 expressway (Hanoi – Lao Cai) and 4 national highways (NH2, 2B…). These are important arterial roads, connecting Vinh Phuc with major economic centers in the North, international airports, seaports, border gates…
  • Railway: The Hanoi – Lao Cai railway line passes through Vinh Phuc, connecting the capital Hanoi and the northern midland and mountainous provinces to Yunnan province, China. The railway section through the province is about 35km long, passing through many key areas of Vinh Phuc such as Phuc Yen city, Vinh Yen city, Binh Xuyen district, Tam Duong district, Vinh Tuong district.
  • Waterway: The Red River and Lo River flows through Vinh Phuc serving freight transport on the Hanoi – Viet Tri – Lao Cai route (Red River), and the Viet Tri – Tuyen Quang – Na Hang route (Lo river).

Urban transport infrastructure of Vinh Phuc province such as external traffic route, North – South, East – West axis of Vinh Phuc urban area; radial axes, ring roads 1, 2, 3 in Vinh Phuc urban area … are very convenient for transportation from Vinh Phuc to all provinces in the Northern Delta, Northwest and Hanoi.

thanh pho vinh yen tinh vinh phuc

In the 2016-2018 period, the province has mobilized 56.7 trillion VND for capital construction, of which investment capital in transportation and production accounts for 34%, social infrastructure projects accounts for 31% of the total investment capital in infrastructure of Bac Giang in the period 2017 – 2020.

In addition, the province’s telecommunications infrastructure is also focused on development. By the end of 2021, fiber optic cables have been deployed to 136 communes, wards and towns in the province, ensuring to meet the needs of people and businesses and FDI enterprises in the area.

List of industrial parks in Vinh Phuc province

Currently, many large corporations in the world have come to invest in factory construction in Vinh Phuc. Below is the latest list of 21 industrial parks in Vinh Phuc province, arranged in chronological order of establishment from old to new:

Kim Hoa Industrial Park

  • Area: 105 hectares
  • Location: Phuc Yen town.

Binh Xuyen Industrial Park I

  • Area: 287 hectares
  • Location: Binh Xuyen district.

Binh Xuyen Industrial Park II

  • Area: 481 ha
  • Location: Binh Xuyen district.

Ba Thien Industrial Park I

  • Area: 327 hectares
  • Location: Binh Xuyen district.

Ba Thien II Industrial Park

  • Area: 308 ha
  • Location: Binh Xuyen district.

Son Loi Industrial Park

  • Area: 264.5 hectares
  • Location: Binh Xuyen district.

Khai Quang Industrial Park

  • Area: 216 hectares
  • Location: Vinh Yen city.

Chan Hung Industrial Park

  • Area: 129.8 ha
  • Location: Vinh Tuong district.

Phuc Yen Industrial Park

  • Area: 127.7 hectares
  • Location: Phuc Yen town.

Nam Binh Xuyen Industrial Park

  • Area: 295 ha
  • Location: Binh Xuyen district.

Vinh Thinh Industrial Park

  • Area: 270 hectares
  • Location: Vinh Tuong district.

Vinh Tuong Industrial Park

  • Area: 200 hectares
  • Location: Vinh Tuong district.

Tam Duong Industrial Park I

  • Area: 750 ha
  • Location: Tam Duong district.

Tam Duong Industrial Park II

  • Area: 78.9 hectares
  • Location: Tam Duong district.

Tam Duong Industrial Park III

  • Area (zone A + area B): 362.1 ha
  • Location: Tam Duong district.

Lap Thach Industrial Park I

  • Area: 128.46 ha
  • Location: Lap Thach district

Lap Thach II Industrial Park

  • Area: 250 hectares
  • Location: Lap Thach district

Thai Hoa Industrial Park – Lien Son – Lien Hoa

  • Area: 578.4 ha
  • Location: Lap Thach district

Song Lo I Industrial Park

  • Area: 177.7 ha
  • Location: Song Lo district

Song Lo II Industrial Park

  • Area: 165.6 hectares
  • Location: Song Lo district

Thang Long Industrial Park

  • Area: 213 hectares
  • Location: Binh Xuyen district

Phuc Yen Industrial Park II

  • Scale: 111 hectares
  • Location: Phuc Yen city.

Preferential policies to attract FDI

In addition to the FDI attractive general policies in Vietnam, Vinh Phuc also offers many special incentives to support investors with taxes and fees as well as reducing the load of administrative procedures:

Administrative procedures

+ Investment Certificate Verification procedures: reduced from 25-30 days to 15 days (investors receive results within 15 days from the date of submission).

+ Investment Certificate procedures: reduced from 15 days to 10 days (investors receive results within 10 days from the date of submission).

du an nha may gs vietnam

Image: GS Vietnam Factory Project invested by GS-YUASA and Mitsubishi in Vinh Phuc.

DELCO is Design and Build General Contractor for this construction.

Taxes and fees

+ Support for investment project documentation consultancy costs: Less than USD 0.2 million projects: VND 20 million; USD 0.2 million – USD 0.5 million projects: VND 30 million; USD 0.5 million – USD 1 million projects: VND 50 million; USD 1 million – USD 5 million projects: VND 100 million; more than 5 million USD projects: 200 million VND;

+ Supporting expenses for business establishment announcement, product promotion, total support must not exceed 2,000,000 VND.

+ Support 100% of the amount that enterprises have paid the following fees and charges: fees for appraisal of environmental impact assessment reporting for projects under the appraisal competence of the provincial People’s Committee; fees for granting land use rights; Fees for the issue, re-issue and extension of work permits for foreigners working in Vietnam; seal sample registration fee.

– Support 100% of fees: Making reports on environmental impact assessment of industrial cluster infrastructure investment projects; planning the scale of 1/500 industrial clusters; clearance of bombs and mines in industrial clusters.

– Support for technical items inside fence including: Centralized waste collection and wastewater treatment system, ensuring the prescribed standards, specific levels according to the size of the industrial cluster: The industrial cluster has area less than 10ha, total support must not exceed 5 billion VND. Industrial cluster with area from 10 to 20 ha, total support must not exceed 7 billion VND. Industrial clusters with an area of over 20ha to 75ha, total support must not exceed 10 billion VND.

– For production and business establishments, when conducting production and business activities in an industrial cluster, the one-time funding support for vocational training is VND 700,000 / person (for those who have not received vocational training support under the resolution of the Provincial People’s Council).*

It is expected that by the end of 2020, the whole province of Vinh Phuc will have 444 valid FDI projects with total registered investment capital of 5.02 billion USD. Among them, Korea currently leads with 207 projects, total investment capital of 2.207 billion USD. Next is Japan with 47 projects, total investment capital of over 1,169 billion USD; Taiwan 37 projects, total registered investment capital of 943.66 million USD. With the continuous implementation of supporting and FDI attracting policies as well as investing in infrastructure construction, Vinh Phuc will continue to be a bright spot to attract FDI into Vietnam.

Xây dựng nhà máy công nghiệp phụ trợ UTECH
UTECH Vietnam factory produces auxiliary products for the automobile manufacturing industry. DELCO is the factory General Construction Contractor.

With the continuous implementation of policies to support – attract investment as well as invest in infrastructure construction, Vinh Phuc will continue to be a bright spot to attract FDI investment into Vietnam. Along with that, the demand for factory construction also increased. Considered as one of the reputable factory construction general contractors in Vinh Phuc, DELCO has been a reliable partner, accompanying and supporting businesses when investing here.

Refer to: A new wave of FDI is coming to Vietnam

Source: Vinh Phuc Department of Planning and Investment, Vinh Phuc website, Industry and Trade magazine, Cafeland 

 

 

 

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