1,800 hectare Viet Phat Industrial Park and urban area started in Long An province

At the ground-breaking ceremony of Viet Phat Industrial Park (IP) and urban area held on May 17, Ken Chan, general manager of Surbana Jurong International Consultants said the project will offer work-live-play opportunities that will enhance the social interaction and liveability of the residents and workers while connecting people back to the natural environment.

The construction of Viet Phat Industrial Park and urban area was put underway in Long An province

Le Thanh, chairman of the Management Board cum CEO of Tan Thanh Long An Investment Development JSC, said that the 1,800-hectare Viet Phat IP and urban area is targeting to seize the investment flows expected to return to Vietnam after the coronavirus pandemic.

“The US-China trade war and the COVID-19 epidemic greatly influenced FDI inflows. Japan has earmarked $2.2 billion in a record high economic bailout to help Japanese manufacturers diversify supply and production chains and soften the impact of disrupted supply chains with big trade partners. This is a very good opportunity for Vietnamese businesses to co-operate and receive investment flows from leading and international partners,” Thanh said.

Located in the southern province of Long An and invested by TIZCO JSC and Vietnam Innovation Parks Group JSC (VNIP), Viet Phat IP is one of the largest IPs in Vietnam so far.

Viet Phat has an advantageous location, being 59 kilometres from the centre of Ho Chi Minh City and 45km from Tan Son Nhat airport, and within the diameter of less than 100km from major ports of Saigon, Bourbon, Cat Lai, Long An international and Cai Mep international ports.

Currently, the industrial sector contributes around 41 per cent of Long An province's GDP. This figure is projected to reach 48 per cent, with a GDP per capita target of $8,000 by 2030.

Surbana Jurong has built more than a million homes in Singapore, crafted master plans for more than 30 countries, and designed over 100 IPs globally.

Some notable projects in Vietnam include Vietnam-Singapore Industrial Park in Haiphong, District 12 Master Plan in Ho Chi Minh City.

In the first quarter of 2020, the southern province of Long An attracted a total foreign capital of $114.6 million, up $26.5 million compared to the same period last year.