Phu My I Industrial Park is one of the first industrial parks in Ho Chi Minh City, with a large scale of up to 945,13 hectares. This is also one of the province’s key industrial parks planned to develop heavy industries, playing an important role in the economic development of Ho Chi Minh City (Ba Ria – Vung Tau).
After the administrative merger, Ba Ria–Vung Tau Province was merged into Ho Chi Minh City.
I. Overview of Phu My I Industrial Park
Phu My I Industrial Park (Phu My I IP) was established on April 2, 1998, under Decision No. 213/QD-TTg of the Prime Minister, with an operating term of 50 years from October 20, 1998 (the date of planning approval).
The initial investor of this industrial park is Ho Chi Minh City Urban Development and Construction Company (UDEC.CO). However, in 2004, Phu My I IP was assigned to IZICO as the investor.
1. Scale of Phu My I Industrial Park
The total planned area of Phu My I IP in Ho Chi Minh City is 945,13 hectares, including:
Land for Industrial and Warehouse Construction (651 hectares):
Area A (Electricity, Fertilizer, Steel Industry): 361,5 hectares.
Area B (Chemical Industrial Park): 216 hectares.
Area D (Warehouse Yard): 73,5 hectares.
Land for the Construction of Operating Centers and Public Service Works (37,5 hectares).
Land for the Construction of Key Technical Infrastructure Projects (15 hectares).
Traffic Land (120 hectares).
Green Land (121,63 hectares).
2. Current Status of Investment in Phu My I Industrial Park – Ho Chi Minh City
To date, Phu My I IP has attracted numerous domestic and foreign investment projects. It has become the destination for various large and small projects, including the construction materials project of Hoa Sen Company, the Mekong flour processing project, the project of Tuong An Cooking Oil Company, the project of Thong Nhat Steel Sheet Joint Stock Company, the BACONCO project, and the Phu My Thermal Power Plant project.
Phu My I IP plays a pivotal role in promoting the industrialization and modernization of agriculture and rural areas, facilitating the development of key industries, and addressing employment challenges in the region. It significantly contributes to elevating the local economy to a new level.
Phu My I Industrial Park – Ho Chi Minh City with a large scale of up to 945,13 hectares
II. Location of Phu My I Industrial Park (Ho Chi Minh City)
Phu My I IP is situated in Phu My Ward, Ho Chi Minh City, Vietnam, formerly Phu My Commune, Tan Thanh District.
This location is deemed a “Golden Spot” for investors due to its strategic positioning, close proximity to major transportation routes, Phu My Seaport, Long Thanh International Airport, and expansive urban areas like Ho Chi Minh City, Dong Nai, and Ba Ria – Vung Tau. These factors create favorable conditions for the efficient movement and transportation of goods and materials.
To the East, it borders the technical corridor and the Vung Tau gas pipeline – Phu My Power Plant (this route runs parallel to National Highway 51).
To the West, it borders Ba Ria Serece Port and the Thi Vai General Port system at a distance of 1,5 km.
From Vung Tau City Center: 40 km
Distance from Ho Chi Minh City: 75 km
From Tan Son Nhat Airport (Ho Chi Minh City): 44 km
Distance from Long Thanh International Airport (Dong Nai Province): 47 km
From Binh Duong Station (Binh Duong Province): 25 km
III. Infrastructure at Phu My I Industrial Park
Phu My I stands out as a premier industrial park in Ho Chi Minh City, capturing the attention of both domestic and foreign investors. Its appeal extends beyond its strategic location to encompass a state-of-the-art infrastructure system.
Modern infrastructure in Phu My I Industrial Park
1. Internal Transportation System
The internal transportation system takes center stage as one of the extensively invested components within Phu My I IP.
The entire internal traffic network boasts comprehensive investment, featuring hot asphalt concrete structures with a remarkable total length of 29,42 km to cater to user needs.
This system is thoughtfully distributed, offering road widths ranging from 23m to 50m, effectively addressing movement within the expansive industrial park:
Road No. 3 features a 50m wide median strip.
Road No. 13 boasts a 46m wide median strip.
Roads 1, 6, 7, 8, 9, 16, 17 include a 31m wide median strip.
Other roads maintain a median strip width of 23 m.
2. Power Supply System
Electricity supply is facilitated by the Phu My Thermal Power Plant through a dual-circuit 110 KV line. Within the park, two 110/22 KV transformer stations and 22 KV power cables efficiently distribute electricity throughout the industrial park.
3. Water Supply System
The water supply system in Phu My I IP is a source of confidence for investors, businesses, and workers. Supplied by Phu My Water Supply Joint Stock Company and Co., Ltd. Toc Tien, the water undergoes rigorous testing, boasting a total capacity of up to 340.000 m3/day.
4. Centralized Wastewater Treatment Plant System
Phu My I IP invests in a centralized wastewater treatment system with a capacity of 2.500 m3/day and night for Phase 1 and 1.500 m3/day and night for Phase 2. The system ensures that treated wastewater meets QCVN column B standards per Vietnam’s environmental technical regulations.
5. Communication Systems
In addition to the aforementioned systems, communication is a robustly invested component in Phu My I IP. Fiber optic cables run along the park’s axis, ready to connect to investors’ factories, ensuring seamless domestic and international communication (mobile phone, internet, fax, etc.).
6. Housing System for Workers
A noteworthy feature of this industrial park is its high-class housing system for workers, presenting a distinct advantage in attracting talent to work within Phu My I IP.
IV. Industries Attracting Investment in Phu My I Industrial Park
As previously mentioned, Phu My I is currently a key industrial park with a focus on developing heavy industries in Ho Chi Minh City. Several industries are drawing the attention and investment capital of both domestic and foreign businesses, including:
Electricity industries
Chemical industries
Fertilizer production
Steel production industries
Construction materials production
These heavy industries necessitate factories and warehouses, with many being strategically located near the port.
V. Investment Incentives of Phu My I Industrial Park
Phu My I IP boasts a remarkable 100% occupancy rate, making it one of the most sought-after industrial parks in Ho Chi Minh City. The rapid development and attractiveness to investors can be attributed, in part, to the policy of exempting land sublease during the capital construction period. The specifics are as follows:
For projects with investment capital of less than 5 USD million, the land sublease exemption period is 6 months.
For projects with investment capital exceeding 5 USD million, the land sublease exemption period is 12 months.
Additionally:
Investors and businesses make the first payment for land sublease at least 3 years after signing the contract.
In the subsequent years, investors can choose annual or multi-year payments, with a maximum total reduction of 30%.
VI. Investment Costs in Phu My I Industrial Park
Investment costs are a paramount concern for investors and businesses. Some investment costs in Phu My I IP include:
Land rental price: Currently around 185 USD/m2 for infrastructure use.
Electricity supply price: Calculated and collected according to the schedule prescribed by the Electricity Company supplying the industrial park.
Water supply price: 12.500 VND/m3 (VAT not included).
Industrial park management and maintenance fee: Applied according to the regulations of the People’s Committee of Ho Chi Minh City.
Wastewater treatment fee: Varied based on pollution levels, following QCVN 40/2011/BTNMT standards.
Note: The above prices are reference prices, excluding 10% VAT, and may change depending on the rental period without prior notice.
VII. Labor Resources and Labor Costs
Phu My I is a significant industrial park, attracting a growing number of investors and experiencing strong growth. It has become a leading industrial park in Ho Chi Minh City. The park draws a large labor force from surrounding areas, providing businesses with an abundant, high-quality labor source at a reasonable cost, aligning with business finances.
VIII. The Values Phu My I Industrial Park Brings
Phu My I IP not only creates industrial value but also significantly contributes to export values, the development of heavy industries, and the modernization of the economy in Ho Chi Minh City and the southern key economic region in general.
It’s evident that Phu My I IP holds advantages in location, infrastructure, transportation, and substantial planning investments. With these advantages and specialized features in functional planning, Phu My I IP not only maintains a competitive edge but also continues to attract investors. For any additional questions regarding the topics discussed, please feel free to leave a comment below this article or contact TTTFIC for immediate and detailed support and advice!
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