Bao Minh Industrial Park - Ninh Binh

With a commitment to investment activities that make tangible contributions to the community, the Infrastructure Construction Project of Bao Minh Industrial Park by the Company is meticulously planned and executed, striving to deliver long-term benefits for investors and partners.

I. Overview of Bao Minh Industrial Park – Ninh Binh

Information about the Industrial Park

Phase 1

Bao Minh Industrial Park was established in 2007 with the support of the Vietnam Textile and Garment Group, the Government of Vietnam, and the Ninh Binh provincial authorities. Bao Minh Industrial Park has successfully developed its infrastructure with the participation of leading textile and garment companies in Vietnam.

Expansion Phase

On July 30, 2021, the People’s Committee of Ninh Binh province issued Decision No. 1612/QD-UBND approving the detailed planning of the expanded Bao Minh Industrial Park in Vu Ban district, Ninh Binh province.

On December 20, 2021, Deputy Prime Minister Le Van Thanh signed Decision No. 2142/QD-TTg on the investment policy for the construction and operation of the infrastructure of the expanded Bao Minh Industrial Park. According to the decision, the project will be implemented in Kim Thai commune and Lien Minh commune, Vu Ban district, Ninh Binh province, covering an area of 50 hectares with a total investment capital of 320,45 billion VND. The project implementation period is from December 20, 2021, to December 20, 2057.

With a commitment to investment activities that bring substantial contributions to the community, the Construction of Bao Minh Industrial Park Project by the Company is planned and executed with high standards, aiming to provide long-term benefits for investors and partners.

Ninh Binh province, located in the southern part of the Red River Delta, is renowned as the largest textile and garment province in Vietnam and plays a significant role as a prominent economic center. Bao Minh Industrial Park is specially designed to transform into an advanced and environmentally friendly industrial park, offering tenants top-notch operational environments, reliable infrastructure, and specialized customer services.

Industrial Park Scale

Total area: 215,52 hectares, including:

Existing area (Phase 1): 165,52 hectares (100% filled)

• Industrial land: 104,3 hectares
• Management area: 0,4 hectares
• Service and public land: 3,78 hectares
• Technical area land: 2,12 hectares
• Housing for experts: 1,35 hectares
• Housing for workers: 3 hectares
• Workers’ accommodation: 1,75 hectares
• Green area land: 21,2 hectares (14%)
• Transportation land: 16 hectares (10,6%)

Expanded area (Phase 2): 50 hectares

• Industrial land: 38 hectares

Investment Information in the Industrial Park

With strong investment and rapid growth, Bao Minh Industrial Park has established itself as a reliable partner for renowned multinational companies. Among them is Sumi Wires, a subsidiary of Japan’s Sumitomo Group, employing 3.800 individuals.

Additionally, the park hosts a group of textile and garment companies, including Sunrise Smart Shirts (Hong Kong), Luentai, Yulun Textile (China), Padmac (Germany), and Junzhen (Taiwan), providing employment for over 6.000 individuals.

Bao Minh Industrial Park has achieved 100% occupancy rate, with a total of 13 secondary investors and 14 projects, including 2 domestic projects with a registered capital of 1,8 trillion VND and 12 foreign-invested projects with a total registered capital of nearly 434 million USD.

Information about the Investor in the Industrial Park

The investor of Bao Minh Industrial Park is Bao Minh Industrial Parks Infrastructure Investment Joint Stock Company.

Main office address: Lot L1, D1 Street, Bao Minh Industrial Park, km 10, National Highway 10, Lien Minh Commune, Vu Ban District, Ninh Binh province,, Vietnam.

Throughout its journey from the initial challenges of its establishment to breakthroughs and transformations, with dedicated leadership and strategic vision, along with a dynamic and ambitious team of employees, Bao Minh is proud to contribute to the successful construction of Bao Minh Industrial Park with complete infrastructure, a professional working environment, and a model industrial park in Nam Dinh Province.

II. Geographical Location within Bao Minh Industrial Park – Ninh Binh

Bao Minh Industrial Park is situated in the communes of Lien Bao, Lien Minh, and Kim Thai in Vu Ban district, Ninh Binh province, Vietnam.

The expanded Bao Minh Industrial Park is located in Kim Thai commune and Lien Minh commune, Vu Ban district, Ninh Binh province, Vietnam.

The boundaries are defined as follows:

– North: Adjacent to canal C9 and rice fields in Kim Thai commune;
– West: Adjacent to residential roads;
– East: Adjacent to the existing Bao Minh Industrial Park;
– South: Adjacent to residential areas along National Highway 10.

It is adjacent to the North-South national railway and National Highway 10, a major economic artery with 4 lanes, running through 6 provinces and cities: Quang Ninh, Ninh Binh, Hai Phong, Nam Dinh, Thanh Hoa and Thai Binh.

It connects to important transportation routes such as QL5, QL37, QL39, QL21, Hanoi-Hai Phong Expressway, provincial roads, linking with major economic and political centers as well as concentrated industrial parks:

By air:

– 118km to Noi Bai International Airport in just 135 minutes
– 104 km to Cat Bi International Airport;

By sea:

– 90 km to Hai Phong Port in just 120 minutes
– 57 km to Hai Thinh Port.

– 11,6 km to Nam Dinh Port.

By road:

– 270 km to Lang Son Border Gate in just 300 minutes

– 12 km to the center of Nam Dinh city in just 20 minutes

– 20 km to the center of Ninh Binh city in just 30 minutes

– 95 km to the center of Hanoi in just 90 minutes

By rail:

– 11 km to Nam Dinh station.

III. Infrastructure of Bao Minh Industrial Park – Ninh Binh

Power supply system:

• The medium-voltage power system is extended to the boundary of the land area.
• It is sourced from the national power grid via the 220/110 kV Vu Ban substation.
• This extension is made along National Highway 10.
• The purpose is to cater to the construction of factories and provide low-voltage power for the project.

Stormwater drainage system:

• The drainage system within the industrial park channels the rainwater from the entire park.
• The Chanh River receives this drainage system’s flow, which is then pumped into the T10 canal through the Chanh River pumping station and the Coc Thanh pumping station (located in Vu Ban district).
• These pumping stations ensure the discharge of water into the Dao River.

Wastewater drainage system:

• The industrial park has a separate and independent wastewater drainage system from the stormwater drainage system.
• The system synchronizes with the collecting sewer lines running along the roads, leading to the centralized wastewater treatment station of the industrial park.

Wastewater treatment system:

• The wastewater treatment plant has a capacity of 20.000 m3/day and night, treating wastewater to meet Grade A standards according to QCVN 40:2001/BTNMT before discharging it into the environment.

Communication information system:

• The Industrial Park has an underground communication cable and fiber optic cable system.
• Service providers will provide connections to each plot within the park.

Other amenities:

• Residential area for workers and experts.
• General clinic.
• Convenience stores.
• Entertainment services, integrated sports center.
• Banks.
• Restaurants, canteens.
• Fire stations.
• Police station within the industrial park.
• 24/7 security.

IV. Investment-attracting industries in Bao Minh Industrial Park – Ninh Binh

• Mechanical processing.
• Textile, dyeing, and garment industry.
• Electrical and electronic industry.
• Pharmaceutical industry.
• Food processing and agricultural products.
• Wood processing.
• Packaging printing.

V. Land Rental Costs at Bao Minh Industrial Park – Ninh Binh

Land rental price: $65 USD per square meter. The land lease term is 50 years.

Management fee: $0,4 USD per square meter per year.

Wastewater treatment fee: 8.000 VND per cubic meter, approximately $0,35 USD per cubic meter.

Electricity price: Calculated based on the electricity selling rates of Ninh Binh Province’s Power Company.

Currently, the electricity production prices for voltage levels from 22kV to below 110kV are as follows:

• Normal hours: 1.405 VND per kWh ($0,0619 USD per kWh);
• Off-peak hours: 902 VND per kWh ($0,0397 USD per kWh);
• Peak hours: 2.556 VND per kWh ($0,1127 USD per kWh);
• Administrative and professional electricity: 1.606 VND per kWh ($0,0708 USD per kWh).

Water price:

• Clean water price for household use: 11.940 VND per cubic meter ($0,52 USD per cubic meter).
• Clean water price for production based on usage volume: ranging from 8.200 VND per cubic meter to 11.440 VND per cubic meter (from $0,36 USD per cubic meter to $0,50 USD per cubic meter).
• Monthly payments.

VI. Investment incentives

(In accordance with Vietnamese laws and regulations)

Corporate Income Tax (CIT):

• A tax rate of 17% for 10 years for investments outside the industrial park.
• The first two years of Corporate Income Tax (CIT) are exempted, commencing from the initial year of profitability.
• 50% CIT reduction for the following four years.

Other incentives:

• Importing goods for fixed assets in projects in sectors eligible for import tax incentives or in areas eligible for import tax incentives.
• Goods imported in accordance with Decree No. 87/2010/NĐ-CP, issued on August 13, 2010, by the Government of Vietnam, which provides detailed regulations on certain provisions of the Law on Export and Import Taxes, are eligible for import tax exemption.