Binh Phuoc to expand IP space

Monday, Apr 12, 2021 07:47

Binh Phuoc Province will build several new industrial parks and expand some existing ones. — Photo

Binh Phuoc Province will build four new industrial parks and expand three existing ones by 2030.

Three of the new ones will come up in the Hoa Lu Border Gate Economic Zone, a 28,000ha investment magnet situated in Loc Ninh District along the Cambodia border.

They will range in size from 300ha to 425ha.

The fourth, an IP – urban area of over 6,300ha, will be built in Dong Phu District.

Minh Hung 3 IP in Chon Thanh District will be expanded by over 577ha, and the North and South Dong Phu IPs in the namesake district, by 317ha and 480ha.

The province’s IPs benefit from favourable tax policies, including waiver of tariffs on imported machinery, and financial support for infrastructure development.

Binh Phuoc, which has 14 IPs, is situated in the Southern Key Economic Zone and enjoys excellent connectivity with other key economic hubs such as Binh Duong and Dong Nai provinces and HCM City. — VNS

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