Phu My 2 Industrial Park (Phu My II Industrial Park), currently a multi-industry complex in industrial park in Ho Chi Minh City, is under the investment of IDICO Corporation. Assessment reports highlight Phu My 2 as one of the industrial parks with leading conditions and significant development potential in Ho Chi Minh City today. Let’s delve into more details about this industrial park with TTTFIC in the article below.
I. Overview of Phu My II Industrial Park, Ba Ria – Vung Tau Province
If Phu My I Industrial Park is a significant hub for heavy industry development, Phu My II Industrial Park has a broader goal of attracting multi-sector investment capital, including the electronics-information industry, consumer goods manufacturing industry, assembly industry, mechanical repair, biotechnology, and stationery.
1. Legal Basis for Establishment
Phu My II Industrial Park was established under Decision No. 1729/CP-CN of the Prime Minister dated November 18, 2004, and Decision 2089/QD-UBND dated June 29, 2005, by the People’s Committee of Ho Chi Minh City. The investment is led by IDICO Infrastructure Development Investment Joint Stock Company.
On August 10, 2006, Phu My II Industrial Park received planning approval according to Decision No. 1130/QD-UBND dated August 10, 2006, by the Ministry of Construction. The planned area is 620,6 hectares, with 388,93 hectares allocated for industrial land rental. This area is situated in Tan Phuoc Ward and Phu My Ward, Ho Chi Minh City, Vietnam
However, as per Decision No. 2785/QD dated September 15, 2021, the People’s Committee of Ho Chi Minh City, has adjusted the industrial land rental area in Phu My II Industrial Park from 388,93 hectares to 425,49 hectares, including land for factory construction and warehouse space.
2. Scale and Structure of Land Use
The land use structure in Phu My II Industrial Park is as follows:
Industrial land: 322,22 hectares.
Land for warehouse construction: 66,71 hectares.
Land for the service operation center: 15,8 hectares.
Green land and water surface: 153,85 hectares (with green land accounting for 90,88 hectares and water surface accounting for 62,97 hectares).
Transportation and port land: 55,57 hectares (with transportation land accounting for 37,7 hectares and specialized port land accounting for 17,8 hectares).
Land for key technical works: 6,45 hectares.
The area of land for lease in Phu My II Industrial Park is 304,94 hectares, with an occupancy rate of 77,24%.
Phu My 2 industrial park planning map
II. Location of Phu My II Industrial Park (Ho Chi Minh City)
Phu My II Industrial Park is strategically situated in Tan Phuoc Ward and Phu My Ward, Ho Chi Minh City, Vietnam.
A distinctive feature of this industrial park is its location within the planning area of the Seaport No. 5 system, housing operational large ports that regularly accommodate substantial tonnage ships such as Phu My Port, SP-International Port, SPA, Saigon International Port Vietnam (SITV), and Cai Mep International Port (CMIT).
Moreover, Phu My II Industrial Park boasts an exceptionally convenient transportation hub:
Distance from Highway 51: 1,5 km.
Approximately: 1 km from the Cai Mep – Thi Vai deep-water port cluster.
Distance from PTSC port (for 60.000-ton ships to dock): 2 km.
Far from Phu My port (for ships of 72.000 tons): 2 km.
From Vung Tau port: 35 km.
From Vung Tau city: 40 km.
Approximately 30 km from Long Thanh – Dau Giay Expressway.
From Ho Chi Minh City and Tan Son Nhat Airport: 70 km.
From Saigon Station: 65 km.
From Long Thanh airport: 35 km.
From Ho Chi Minh City – Long Thanh – Dau Giay Expressway: 30 km.
Far from Bien Hoa city: 55 km.
From Bien Hoa Station: 60 km.
Due to these exceptional location advantages, Phu My II Industrial Park has evolved into a crucial traffic connection point linking industrial parks in Ho Chi Minh City and the broader key economic region in the Southern part of Vietnam.
III. Infrastructure at Phu My II Industrial Park
One of the pivotal factors fostering the development of Phu My II Industrial Park and capturing the attention of significant domestic and foreign investors is its modern facilities system.
1. Traffic System
Phu My II is an industrial park in Ho Chi Minh City that has received substantial investment in building a comprehensive internal transportation system of the highest quality to meet user needs:
Internal roads include the Main road system D3, N6, and the bone road system connecting to the factory gate.
Main road D3: 1.443,14 m long, 63m cross-section, 24 m road section, 3 m median strip.
Main road N6: 1.410 m long, 31 m cross-section, 15 m driving distance.
2-lane branch road, 8 m wide.
Not only is the internal traffic system invested in, but the external traffic system outside this industrial park is also prioritized:
Road 965 Southeast, passing through Phu My II industrial park: length 2.065 m, planned cross-section is 75 m (connecting National Highway 51 to major port systems such as Cai Mep International Port, Tan Cang Port Cai Mep, etc.).
Western inter-port road of Phu My II industrial park: cross-section 50 m (going through other industrial parks and connecting with ports such as Phu My Port, PTSC Port, SITV Port, SP-PSA Port).
Road system 2A – Inter-industrial park road (connecting industrial parks in Phu My ward to Phu Xuan A, Go Vap).
2. Electric Supplying System
The electrical system at Phu My II Industrial Park is directly supplied by the National Power Grid managed by Tan Thanh Electricity / Ho Chi Minh Electricity, supplying to the foot of the Factory fence. The supply voltage for factories here is 22 kV.
3. Water Supply System
The water supply system of Phu My II industrial park is provided by the Toc Tien Water Plant with a capacity of 50.000 m3/day and night. The water price (price does not include VAT) is 12.500 VND/m3.
4. Centralized Wastewater Treatment Plant
The wastewater treatment plants in Phu My II Industrial Park have been completed and put into operation. These factories will receive industrial wastewater from areas surrounding the factories with a phase 1 capacity of 4 m3/day and night. The treated wastewater is then discharged into the environment.
5. Drainage System
At Phu My II Industrial Park, the rainwater drainage system and wastewater drainage system are separate along the roads in the Industrial Park.
6. Communication Systems
The telecommunications system within Phu My II Industrial Park is fully designed and can be customized according to customer needs. The communication system here is provided by service companies such as VNPT, FPT, and Viettel to ensure domestic and international communication by phone, fax, mobile phone, and fiber optic Internet.
7. Fire Protection System
Phu My II Industrial Park has been equipped with a fire prevention and fighting warning system that strictly complies with Vietnamese state regulations. It always ensures to keep in touch with the district and town fire prevention teams to ensure the safety of investors and workers of the industrial park.
8. Security System
Phu My II has established a security team within the area to ensure personal safety and protect investors’ assets. The industrial park’s security team will regularly keep in touch with the economic police team in the area to ensure the safety of businesses, investors, and workers here.
9. Natural Gas
Currently, Phu My II also invests and builds natural gas supply systems, which have been planned and are currently being provided to investors in need.
IV. Industries Attracting Investment in Phu My II Industrial Park
Phu My II focuses on industries that use modern technology, save natural resources, and are environmentally friendly with the goal of becoming a multi-sector industrial park.
Some typical projects in Phu My II Industrial Park include Nippon Spiral Welding Steel Company, Manuchar Phu My, CR Bearing Vietnam, Linde Gas, Project of Dong Tien Viet Nhat Steel Company, a project of POSCO Vietnam, etc.
Industries encouraged to invest in Phu My II Industrial Park include:
Consumer goods processing industries: food processing, textile industry, shoe manufacturing, paper industry, agricultural and forestry product processing, etc.
Biotechnology.
Mechanical technology of assembly and repair.
Electronic information technology: Production of industrial and specialized electronic equipment, production of components, accessories, electronic supplies, and civil electrical products.
Production of building materials.
Production of medical equipment and instruments.
Production of stationery and school supplies.
CO2 Gas production, liquefaction filling, industrial gas, medical gas; Production and preparation of lubricants; Depot.
Production of cables and electrical equipment; Production and assembly of electronic and telecommunications equipment.
Manufacturing industries that require port use.
Environmental industry and energy-saving (no solid waste treatment)
…
V. Investment Incentives of Phu My II Industrial Park
Phu My II Industrial Park attracts numerous businesses and investors, boasting a high occupancy rate not only due to its development potential but also owing to substantial investment incentives, currently under consideration.
Phu My II Industrial Park attracts many businesses and investors because of great investment incentives
1. Corporate Income Tax Incentives
At Phu My II Industrial Park, businesses and investors are eligible for corporate income tax incentives of up to 20%.
2. Import Tax Incentives
In accordance with the provisions of Article 16 of the Law on Export Tax and Import Tax No. 45/2005/QH11 dated June 14, 2005, and Article 12 of Decree No. 87/2010/ND-CP dated August 13, 2010, businesses will be exempt from import tax on imported goods.
3. VAT Incentives
The preferential tax rate for businesses in Phu My II is 17% for 10 consecutive years from the first year the business generates revenue from the project. After this period, businesses will transition to applying the 20% tax rate.
Enterprises are entitled to tax exemption for 2 years and a 50% reduction for the next 4 years from the date of taxable income. Specifically:
The tax exemption and reduction period is calculated continuously from the first year the enterprise has taxable income from the project.
If the enterprise has no taxable income in the first three years (starting from the first year of project revenue), the tax exemption and reduction period will be calculated from the fourth year.
4. Other Offers
In addition to incentives such as income tax, VAT, and import tax benefits, businesses in Phu My II will receive complimentary support from the investor of Phu My II Industrial Park. This assistance includes guidance and facilitation in the application procedures for Investment Policy, Investment Registration Certificate, and Certificate of Business Establishment, as well as collaboration in providing information and consulting on various project-related processes.
VI. Investment Costs in Phu My II Industrial Park
Investment costs are a paramount concern for businesses exploring Phu My II industrial park.
1. Land Rental Price
The land rental price in Phu My II industrial park includes:
Full infrastructure usage fee: equivalent to 135 USD/m2/entire term.
Industrial park management and maintenance fee: 0,65 USD/m2/year (adjustable annually by 3,5%).
2. Electricity Supply Price
22kV electricity price (excluding VAT) according to State regulations is as follows:
Normal hours (04:00-9:30; 11:30-17:00; 20:00-22:00): 1.555 VND/kWh.
Water at Phu My II Industrial Park is supplied by the Toc Tien Water Plant, boasting a capacity of 50.000 m3/day and night. The price is set at 12.500 VND/m3 (excluding VAT).
4. Cost of Wastewater Treatment
The cost for wastewater treatment at Phu My II Industrial Park is 0,4 USD/m3 (excluding VAT). The factory’s wastewater in the Industrial Park must adhere to the allowable limit specified in column B of the industrial wastewater standards.
5. Other Costs
Depending on the needs of the land lessees, there will be additional costs (communication costs, waste treatment fees, etc.).
VII. Labor Resources and Labor Costs
Sitting in the heart of Ho Chi Minh City and undergoing rapid development, Phu My 2 industrial park attracts employees from various regions.
Notably, Phu My II Industrial Park benefits from the abundant local labor resources in Ho Chi Minh City. This location is home to approximately 1,2 million people. Moreover, the working-age population constitutes over 60% of the total residents.
Phu My II Industrial Park is experiencing rapid and robust development, offering outstanding advantages. Positioned as a ‘Golden Spot,’ it attracts both domestic and foreign businesses and investors. For more detailed advice on this issue, please leave us your information. Don’t forget to follow TTTFIC for more useful information.
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