Vĩnh Phúc province grants investment certificates for $81 million project to SHINEC and partner

Wednesday, Mar 06, 2024 14:47

An overview of the Phúc Yên Industrial Park project worth of VNĐ2 trillion (US$81 million). — Photo SHINEC

The People's Committee of Vĩnh Phúc province on Tuesday granted investment infrastructure certificates for the Phúc Yên Industrial Park project worth of VNĐ2 trillion (US$81 million) to two companies.

They are SHINEC Joint Stock Company and Vĩnh Phúc International Industrial and Service Park Joint Stock Company.

The infrastructure project of Phúc Yên Industrial Park, located in Phúc Yên City, Vĩnh Phúc province, has a total investment capital of nearly VNĐ2 trillion, covering an area of 111.3 hectares, and a 50-year operation period.

According to the committed schedule, it is expected to complete the investment and construction of infrastructure from Q2/2025 to Q1/2027 and commence operation from Q2/2027.

Phúc Yên Industrial Park will have a synchronised and modern technical infrastructure system. It targets projects in the fields of mechanical engineering, precision mechanics, medical equipment, electrical equipment, with modern and advanced technologies and minimal environmental pollution.

The park, developed by SHINEC and its partner, is expected to be one of the vibrant and high-quality investment destinations, promising to contribute significantly to the socio-economic development of Vĩnh Phúc province.

It has various advantages, being approximately 35 km from the center of Hà Nội, nearly 10 km from Nội Bài Airport, and 150 km from Hải Phòng Port and Cái Lân Port, adjacent to the Nội Bài-Lào Cai expressway.

SHINEC and its partner are committed to constructing and operating Phúc Yên Industrial Park in a professional manner, attracting secondary investors.

In recent years, Vĩnh Phúc province has been steadfast in its sustainable development strategy. It has been accelerating the adjustment and planning of industrial parks towards specialisation, ecological friendliness, and intelligence, gradually building exemplary industrial parks with coordinated and modern infrastructure.

Vĩnh Phúc emphasizes that the development of industrial parks must be accompanied by environmental protection and sustainability. When attracting investment in industrial park infrastructure, Vĩnh Phúc requires investors to allocate a minimum of 10 per cent of land funds for green planting. The province has also issued many directives to overcome difficulties and obstacles in environmental protection work.

Currently, Vĩnh Phúc has several industrial parks that have well-planned infrastructure. An exemplary case is the Thăng Long Vĩnh Phúc Industrial Park, owned by the Sumitomo Group (Japan), which has comprehensive and modern infrastructure and environmental landscape.

Vĩnh Phúc province issued investment registration certificate to Sumitomo Group in October 2015. Thăng Long Vĩnh Phúc Industrial Park covers an area of over 213 hectares of Thiện Kế and Tam Hợp communes, Bình Xuyên district.

By November 2018, the park completed phase I, and shortly after, dozens of production and business investors registered for occupancy.

Thăng Long Vĩnh Phúc Industrial Park so far has attracted 42 projects, including 9 domestic investment projects with a total investment capital of over VNĐ1.2 trillion and 33 foreign direct investment (FDI) projects with a total investment capital of over $953 million, providing employment for more than 10,000 laborers. The investor has focused on establishing a green tree and grass system, allocating over 20 per cent of the total area for greenery, water surfaces, and transportation roads. — VNS

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