The FLC Group started the construction of the FLC Hoang Long Industrial Park in the central Thanh Hoa Province on September 22. — VNA/VNS Photo Hoa Mai

The FLC Hoang Long IP is located in the communes of Hoang Anh, Hoang Long and Hoang Quang of Thanh Hoa City and Hoang Minh, Hoang Thinh and Hoang Dong of Hoang Hoa District.

Covering an area of about 300ha, the VND2.3-trillion (US$102.9 million) project is expected to be completed and handed over to several businesses this year. As planned, the IP will be one of the province's multi-sector industrial parks. Once it becomes operational, it is expected to attract domestic and international investors, especially enterprises from Taiwan, South Korea, Japan and the United States, besides Europe, thanks to the location of nearby Nghi Son Industrial Zone. The Hoang Long IP would appeal to investors of non-air polluting industries, towards a sustainable development of both the economy and the environment.

Speaking at the groundbreaking ceremony, FLC Chairman Trinh Van Quyet said the development of IPs had helped localities to attract foreign direct investment, thus promoting socio-economic growth.

"We aim to complete the IP's phase 1 target by 2017," Quyet said.

Nguyen Dinh Xung, chairman of the provincial People's Committee, said the IP would be the model for future IPs in the province that meet international standards.

Besides its prime location, FLC Hoang Long also benefits from the large populations of Hoang Hoa District and Thanh Hoa City. The industrial park will create jobs for 60,000 to 80,000 people.

The FLC Hoang Long IP is located in the communes of Hoang Anh, Hoang Long and Hoang Quang of Thanh Hoa City and Hoang Minh, Hoang Thinh and Hoang Dong of Hoang Hoa District. — File Photo

At the ceremony, the FLC Group and Taiwan's Hong Fu Footwears Viet Nam Company signed a co-operation agreement, according to which the company would invest in 20ha in the IP for its footwear project.

It has invested about $200 million in Viet Nam, with eight projects in Thanh Hoa Province, creating jobs for 20,000 labourers.

The province is seen as an attractive investment destination, with diversified technical and social infrastructure. In the provincial competitiveness index (PCI), the province is in the second best group. Thanks to incentives, Thanh Hoa has become an attractive investment destination, with several billion dongs being invested by large groups such as FLC and Vingroup.

FLC is the largest domestic investor in the locality, with a total investment of VND15 trillion ($666.7 million). The group's projects include FLC Samson Golf and Beach Resort, FLC Complex, FLC Hoang Long IZ and Lam Son hi-tech agricultural area.

"Thanh Hoa has taken drastic measures to take advantage of its favourable location, natural resources and business environment to attract investment," Deputy Prime Minister Nguyen Xuan Phuc said.

Phuc said the province should also call for investment from multi-national groups as well as new industries, especially hi-tech sectors.

The province aims to achieve an average per capita income of $3,650 by 2020. — VNS