Functioning as the bridge between the northeast and Mekong Delta’s pivotal economic zones, Phuc Long Industrial Park has grown into an investor magnet in the southern province of Long An.
|Phuc Long IP has filled all its land space in the first phase |
After nearly a decade of development, the industrial park (IP) – with scale of 80ha and investment value touching VND625 billion ($27 million) – from developer Phuc Long Investment and Construction Ltd. has built a track record in funding attraction.
Founded in 2011 in Ben Luc district, the IP has thus far wooed 44 projects from domestic and overseas investors with committed capital value reaching $293 million. Financiers mostly come from Japan, South Korea, the US, Germany, and Belgium, among others.
Projects are focused on precise engineering and automation with cutting-edge technologies, doing less harm to the environment. As of now, Phuc Long IP has filled all its land space in the first phase.
In the eyes of investors, the charm of Phuc Long IP lies in its good geographical position, complete technical infrastructure, and attractive investment incentives.
Hsieh Ming Der, director of Taiwan-backed Yu Yuang Vietnam and developer of the $54-million Yu Yuang high-tech textile dyeing plant, said that aside from holding trust in market potential, Phuc Long IP’s convenient position and strong infrastructure conditions are the key factors behind the company’s decision to invest in Vinh Long.
SAN-EI Vietnam director Yoshimoto Shingo said at the factory’ space handover ceremony for the company, “Apart from a strategic location, Phuc Long IP offers clean and beautiful landscape with a wide range of services. The developer always listens to the investors’ requirements striving to deliver high quality services. Our company has received very helpful support in our legal setup phase.”
According to Mai Tri Hieu, director of Phuc Long Investment and Construction JSC, the IP has embraced expansion in order to avail of the shift of investment flow, with the country successfully containing COVID-19 and engaging in a raft of important free trade agreements.
Along with this, the expanded Phuc Long IP will cover 334.5ha and follow the model of a clean, smart, and high-tech IP with an efficient use of renewable energy. The expanded IP will greet a mix of industries that prevent more harm to the environment, including processing, electrical, and high-tech fields, among others.
Last week Can Duoc’s People’s Committee joined efforts with the People’s Committee of Long Dinh commune and Phuc Long JSC to hold a ceremony announcing plans for the expanded Phuc Long IP in light of Decision No.3712/QD-UBND dated October 9 of the provincial People’s Committee. Can Duoc People’s Committee meanwhile tasked relevant communes to carry out a smart job with land acquisition, creating favourable conditions to help investors facilitate project pace.