Phuc Long IP - a stellar investment attraction record
Phuc Long IP - a stellar investment attraction record
With its favourable geographical position, existing infrastructure and attractive investment policies, Phuc Long industrial park in the southern province of Long An has proved to be a welcoming home to both domestic and foreign investors.
Home to a slew of foreign investment projects
Taiwan-backed textile firm Yu Yuang Vietnam Ltd is now in the final stage of completing legal procedures to begin construction of its hi-tech textile dyeing complex at Phuc Long IP.
The $58 million project, which is one of the largest foreign direct investment (FDI) projects at Phuc Long IP in the year to date, will cover 80,000 square metres.
It will focus on producing quality fabrics and fibres with an annual capacity of over 16,000 tonnes.
“Vietnam’s market potential as well as investment climate are positive. Phuc Long IP’s convenient location and good infrastructure were instrumental in our decision to set up shop there,” said Hsieh Ming Der, CEO of Yu Yuang Vietnam.
“Our plant will soon come on stream as we are now in full swing to finalise construction,” he added.
Notably, through the provision of ready-built workshop space, Phuc Long IP charmed five wholly Japanese-owned businesses within a short period of time, with a total investment capital of $3.7 million and covering a leased area of 10,375sq.m. Some of these new tenants include Sanei Vietnam, which operates in metalworking and mould manufacturing; Koei Kiko Vietnam, producing valves and metal components; and Halvo Vietnam, which produces materials for water purification, waste water treatment, soil improvement and environmental enzymes.
“Phuc Long IP has beennamed as among Long An province’s top three IPs in attracting investment this year. We have succeeded in filling 46 per cent of the IP space after just a little more than a year in operation,” said Mai Tri Hieu, director of Phuc Long Investment and Construction Company Ltd.
Specifically, the IP has wooed seven FDI and two domestic investment projects with a total registered capital of $73.1 million so far this year.
Attracting factors
At the hand-over ceremony for Japan’s Sanei Vietnam Limited’s ready-built workshop, company director Yoshimoto Shingo said, “Apart from its strategic position, Phuc Long IP has beautiful scenery and a raft of services. The IP management has proved supportive and are matching our future development vision.”
Phuc Long IP’s prime advantage is its location. Lying in the centre of Ben Luc town, the IP is located between Ho Chi Minh City and Long An province, and connects two pivotal economic development areas of great potential- the southeast and the Mekong Delta region.
The IP is also linked to nearby Highway 1, the Trung Luong-Ho Chi Minh City route and Ben Luc-Long Thanh motorway.
In terms of waterway transport, the IP provides easy and short access to important ports such as Bourbon, Hiep Phuoc and Cat Lai ports. It is also just 20 kilometres away from Tan Son Nhat International Airport.
“The IP also has a fully-functional infrastructure. Specifically, we have in place a waste water treatment facility with a capacity of 1,300 cubic metres per day. For investors still in the market survey stage, we have set aside a 7ha space with ready-built small workshop areas,” said director Mai Tri Hieu.
Phuc Long IP also boasts ideal service facilities, including workers’ dormitories, a shopping centre, a sports stadium, housing for upper-level management and staff, a customs office, and logistics services.
“We are also implementing the Phuc Long Garden housing project to meet the housing demands for people working in our IP as well as other major IPs in the area. Once completed, Phuc Long Garden will be an economic, service, and cultural centre with growth levels comparable to other state-of-the art urban developments in the city centre,” said Hieu.
In 2015, Phuc Long IP aims to fill up another 40 per cent of its 80ha space in this first phase of development and embark on preparations for the second-phase deployment of over 300ha.
