Financial Association of Industrial Parks to be launched

January 11, 2024 | 09:52

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The Vietnam Financial Consulting Association (VFCA) released a resolution in December to establish the Financial Association of Industrial Parks (FAIP), with Dr. Phan Huu Thang, former director of the Foreign Investment Agency under the Ministry of Planning and Investment, appointed as interim president.

Financial Association of Industrial Parks to be launched

The purpose of the FAIP is to connect organisations and individuals relating to the economics and finance of industrial parks (IPs) across the country, and offer instruction on how to mobilise capital inflows and generate business in the parks in line with the regulations.

"The FAIP will be an organisation that protects the legal rights and interests of investors in the IP infrastructure business, enterprises operating in industrial areas, and companies with business activities associated with industrial land. The association will also act as a reliable focal point for potential investment partners," said Thang.

To assist the market and the association’s members in developing money flows and business activities successfully, the FAIP will carry out tasks in connection with investment, finance, taxes, and customs for IP enterprises and offer solutions for them.

In addition, the FAIP will advise the VFCA on its consulting and social appraisal activities as well as other tasks, including promoting the green and sustainable development of the parks and other economic zones throughout Vietnam.

The association is organising a conference in Hanoi on January 16 with the participation of nearly 100 representatives from associations, financial organisations, industrial real estate developers, and IP infrastructure trading companies.

Vietnam currently has 414 IPs, including four export processing zones, which cover an area of almost 129,000 hectares.

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