Long An to reduce IP area

Huu Thanh IP

According to the proposal of Long An Provincial People’s Committee to the prime minister, the province’s total number of IPs has been reduced to 28  from 30. Among these, four IPs have decreased their areas for development while three others have increased their size. Long An’s total IP areas have been reduced by 328.69 hectares to 10,493.15ha.  

The eliminated IPs are the 292-ha Phu Long IP and 120-ha The Ky IP. Plans call for The Ky IP to be merged into Huu Thanh IP, invested by Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO). The Ky IP, previously, was planned by some Taiwanese investors but they officially declined investment due to the economic downturn in Vietnam and globally, according to Long An Provincial Economic Zones Management Authority (Leza).

The gloomy economy domestically and globally has posed hardships in attracting both domestic and foreign investments to IPs. Site clearance policies and cut-out incentives for IP developers have also contributed to investors losing interests in the The Ky IP project, including its residential resettlement areas, said Nguyen Van Tinh from Leza.

IDICO has applied to take over The Ky IP with a plan of sharing residential and resettlement areas of neighbouring Huu Thanh IP,  which is invested by IDICO .

Four IPs that are decreasing their areas include Duc Hoa III, Nam Thuan (Dai Loc), My Yen-Tan Buu-Long Hiep and Long Hau 3.

The investors of these IPs cited the economic downturn and high prices of site clearance according to Decree No. 69/2009/ND-CP. Moreover, some areas are unsuitable for IP development because of proximity to residential areas or impacts on rice production.
 
Meanwhile, Viet Phat IP, developed by Tan Thanh Long An Investment JSC, is increasing from 300 hectares to 1,214ha due to the developer-inked agreements with foreign investors including Hongkong-based China Merchants Holdings and Malaysia-based firms Ranhill and Nexus Landmark to jointly invest in a green IP.

The other expanding IPs include Nam Tan Lap and Xuyen A (Duc Hoa II). Nam Tan Lap is adding 44.7ha into current 200ha because some enterprises which were established before the IP was developed, mainly cement producers, are seeking connections into  the waste water treatment and  water supply system of Nam Tan Lap.

Xuyen A IP, located at the border between Ho Chi Minh City and Long An, increases from 400ha to 483.44ha.