Deputy Prime Minister Lê Minh Khái has agreed in principle to a project to develop the Thổ Hoàng Industrial Park in the northern province of Hưng Yên.

The industrial park, spanning Vân Du, Xuân Trúc and Quang Lãng communes and Ân Thi Town of Ân Thi District, will be built at a total cost of over VNĐ3.1 trillion (US$121.8 million) with the investment from the Ân Thi Infrastructure Investment and Development Joint Stock Company.

Meanwhile, the provincial People’s Committee must ensure the accuracy of all information supplied including data and appraisal content in accordance with the law, take on the responsibility for the project matching with the approved planning rules and consult with all associated ministries and sectors.

Additionally, it must update the location and scale of the industrial park to the local industrial park system plan to integrate the contents into the province’s master plan for the 2021-30 period and its land-use plan for the 2021-25 period and submit for competent authorities’ approval in accordance with land planning and laws.

The provincial People’s Committee must direct the Management Board of the industrial parks and relevant agencies to review and assure that the construction site meets the requirements of the promotion of the cultural heritage values and other conditions in accordance with the related laws.

The Ân Thi Infrastructure Investment and Development Joint Stock Company is responsible for the legality, accuracy and honesty of the project’s documents. It must review all the details with ministries, sectors and the provincial People’s Committee and comply with relevant regulations.

Hưng Yên Province expects to attract $600 million in FDI into its industrial parks this year.

To achieve this target, the locality will continue providing support to businesses, focusing on organising investment promotion conferences with investors from the Republic of Korea, Japan, the US and Europe, attracting big groups and projects with cutting-edge technologies and joining global value chains.

According to the provincial Statistics Office, Hưng Yên has 543 FDI projects worth nearly $7 billion, of which 172 projects are valued at $3.8 billion and are run by Japan – its biggest investor. — VNS