The first Le Minh Xuan IP cover 100 ha in Binh Chanh district, 18 km from the downtown of HCM City.— Photo hepza.hochiminhcity.gov.vn

HA NOI (Biz Hub) — The HCM City People's Committee has decided to establish the Le Minh Xuan 3 industrial park in Binh Chanh District.

Under the decision, the Saigon VRG Investment Holding Corporation (Saigon VRG) will invest VND1.2 trillion (US56.3 million) in the construction of the park.

Spread over more than 231ha in Le Minh Xuan Commune, the park will be home to clean and high-tech industries such as electronics, IT, food and medical processing.

The park will also serve the ancillary services of the medical equipment, garment and textile and footwear industries. Saigon VRG said that the park will be near the city centre where there are several supporting industries and a substantial skilled workforce. In addition, there will also be an 80ha residential area, comprising living space and entertainment centres for the park's experts and workers.

The park is the third of its kind in the commune. The first two industrial parks, Le Minh Xuan and Le Minh Xuan II, were built over more than 437ha and are in operation.

As a member of the Vietnam Rubber Group, Saigon VRG, set up in 2007, specialises in investment, industrial park infrastructure development and real estate, besides residential areas having essential social infrastructure such as houses, apartments and offices, as well as restaurants and commercial centres. — VNS