Du Long Industrial Park gets operational term extended to 70 years

Du Long Industrial Park gets operational term extended to 70 years

Du Long Industrial Park in Khanh Hoa province has had its operational term extended from 50 to 70 years, running until 2077.

Innoflow Co., Ltd. and Hoang Thanh Do Luong Manufacturing JSC projects at Du Long Industrial Park

The extension was granted under the sixth amended Investment Registration Certificate issued by Khanh Hoa Economic Zone and Industrial Parks Management Board.

At an event on May 25, the board also awarded investment certificates to 13 projects in Van Phong Economic Zone and industrial parks across the province, including six newly licensed and seven adjusted projects, with the total registered investment capital of approximately VND7.48 trillion ($287.69 million).

Representatives of 13 investors receiving approval alongside leaders of Khanh Hoa Economic Zone and Industrial Parks Management Board on May 25

Among the adjusted projects, four had their operational terms extended from 50 to 70 years: Co Ma High-End Urban Area developed by Song Han Sun LLC; Dam Mon Urban Area developed by Phu Quoc Sun LLC and Ha Long Sun LLC; the ship repair and shipbuilding plant of HD Hyundai Vietnam Shipbuilding; and the Du Long Industrial Park infrastructure project by Hoang Thanh Du Long Industrial Park Investment JSC.

Several other projects also received approvals for capital increases. The Co Ma High-End Urban Area saw its investment raised to $272.31 million; Phuoc Nam Industrial Park increased its investment to more than $103.46 million for Phase 2; and Seyoung Vina Factory added $2.08 million in additional capital.

Du Long Industrial Park was first granted approval in April 2007. For several years following its initial licensing, the project faced significant challenges in implementation and investment attraction, and was often referenced by the media as a 'dormant industrial park' that had yet to realise its full approved scale and potential.

Following its restructuring phase and transition to the current investor, Du Long Industrial Park has gradually completed its infrastructure, adjusted its planning framework, and recorded notable progress in attracting secondary manufacturing projects.

According to a report by Khanh Hoa Economic Zone and Industrial Parks Management Board, as of the reporting date, Du Long Industrial Park had attracted 10 secondary ventures, with total foreign direct investment of approximately $73 million and domestic investment capital of around $95.38 million. Of these, three projects have already commenced operations, creating employment for approximately 10,000 workers.

The Du Long Industrial Park infrastructure development and business project covers an area of 407.28 hectares, with total infrastructure investment capital of $76.92 million, and is developed by Hoang Thanh Du Long Industrial Park Investment JSC.

The extension was granted under Clause 2, Article 31 of Investment Law No.143/2025/QH15, which allows projects in areas with difficult or especially difficult socioeconomic conditions, or those with large capital requirements and extended capital recovery periods, to operate for up to 70 years.

The management board said Du Long Industrial Park is located in an area classified as having especially difficult socioeconomic conditions. The project's remaining operational term of approximately 31 years was identified as a factor affecting its ability to attract strategic investors, particularly large-scale projects with long capital recovery cycles.

The extension of Du Long Industrial Park’s operational term to 2077 is expected to provide stronger legal and commercial grounds for investment attraction activities, particularly for projects requiring large-scale capital commitments, long investment cycles, and stable long-term infrastructure utilisation.

The Ninh Thuan Textile and Dyeing project by Germany's Suedwolle Group, with a total investment of $24.54 million, has commenced operations and is preparing for Phase II expansion

With the guidance and support of Khanh Hoa Economic Zone and Industrial Parks Management Board, the extension of Du Long Industrial Park’s operational term to 2077 was carried out in full compliance with applicable regulations, helping to remove a key obstruction in attracting long-term investment.

Nearly two decades after receiving its initial investment licence, this adjustment is regarded as a significant milestone that opens a new chapter of development for Du Long Industrial Park. It is expected to create greater capacity for attracting large-scale projects, ensuring stable industrial operations, and contributing to the industrial development of Thuan Bac commune in particular and Khanh Hoa province as a whole.

VIR