With its strategic location and easy access to Hanoi and the northeastern economic region, Ba Thien II Industrial Park (IP) in Binh Xuyen district, Vinh Phuc province, offers modern infrastructure, a favorable investment environment and many incentives, making it an attractive destination for investors, particularly from the US, South Korea and Japan.
Ba Thien II IP offers modern infrastructure and a favorable investment environment, making it an attractive destination for investors
Officially going into operation in 2012, Ba Thien II IP welcomed the first tenant, Nippon Paint, a famous Japanese firm. Soon after that, many investors from the US, Japan, South Korea and Hong Kong (China) came to locate their projects in the park. Recently, Ba Thien II successfully attracted Polaris Group (US) to invest in a US$36-million factory on a total area of 12 ha to manufacture large-displacement motorcycles. Polaris, a Top 500 largest US business, mainly assembles engines for motorbikes, automobiles and means of transport. Currently, the group has 20 factories worldwide, with two in Vinh Phuc province.
Mr. Trinh Van Quang, Ba Thien II IP Development Project Director, Vina-CPK Joint Stock Company, said that the Ba Thien II IP Project, with a construction cost of US$65 million, spans 308.83 ha across Ba Hien and Trung My communes and Thien Ke town in Binh Xuyen district, Vinh Phuc province. It offers significant advantages, located just 6 km from the Noi Bai-Lao Cai Expressway, 3 km from the ICD Depot, and 20 km from Noi Bai International Airport.
Defining that the modern and synchronous infrastructure is a magnet of the industrial park, Vina CPK built a concreted internal traffic system to minimize the requirement for factory reallocation for road surface upgrades and repairs. The entire water supply and drainage system is also underground to enhance general safety and hygiene for vehicles and workers traveling in the industrial park. Power grid is connected to all facilities.
Solum Vina Company operates effectively at Ba Thien II Industrial Park
In addition, Vina CPK is always aware of the importance of sustainable industrial development, including environmental protection and industrial wastewater treatment. The wastewater treatment plant in Ba Thien II IP was synchronously invested and built by KOASTAL Group (Singapore), a leading constructor of wastewater treatment facilities for industrial parks.
As a result, Ba Thien II IP successfully attracted investment waves from large corporations in the world. Currently, the park has nearly 80 tenants that employ nearly 30,000 workers. The most notable tenants include Nippon Paint (Japan), Vina Union, Sekonix Vina, Datatronic, Solum Vina (South Korea), Weldex Vina, Proctec, Polaris (US) and Assa Abloy (Sweden).
To become a high-tech industrial park, Ba Thien II will prioritize light industry, high-tech, telecommunications, electronics, automobile and motorbike component assembling and manufacturing, industrial equipment, logistics and other industries.
To maintain Ba Thien II as an attractive destination for major corporations, Vina-CPK Joint Stock Company, the infrastructure investor, will enhance infrastructure to meet the strict requirements of investors from Japan, South Korea, the US and Europe. The company also hopes Vinh Phuc province will address issues like land valuation, pricing frameworks, land allocation, funding for resettlement, and expedited compensation and site clearance for IP infrastructure projects. Additionally, the province should improve technical infrastructure outside the IPs, particularly in electricity, water, worker housing and public transport.
By Nguyet Tham, Vietnam Business Forum
Vietnamese
