Green Park Vinh Phuc

I. Overview of Green Park Vinh Phuc:

Green Park Vinh Phuc Industrial Park was approved as an addition to the Vinh Phuc provincial industrial park planning according to Official Letter No. 1581/TTg-KTN dated September 3, 2009, by the Prime Minister of the Government, with a planned area of 304 hectares.

On January 7, 2022, Green Park Vinh Phuc Industrial Park was approved for detailed construction planning at a scale of 1/500 according to Decision No. 36/QD-UBND by the Vinh Phuc Provincial People’s Committee.

The total planned area of the industrial park is 295.74 hectares, with a construction land area of 290.152 hectares (200.41 hectares for industrial leasing, accounting for 69.07%), and the remaining 5.588 hectares reserved for the 220kV high-voltage power line corridor.

On March 19, 2021, Green Park Vinh Phuc Industrial Park was approved for investment by Decision No. 399/QD-TTg of the Prime Minister.

The project is developed by YSL Group, a leading provider of construction solutions, financial investment, and real estate. Green Park Vinh Phuc is located in key economic zones in Northern Vietnam.

Green Park is divided into 3 zones:

The Zone 1A

• Area: 121.35 hectares
• Zone 1A consists of 10 sub-zones
• Expected completion time: Q4 2022

The Zone 1B

• Area: 108.43 hectares
• Zone 1B consists of 11 sub-zones
• Expected completion time: Q2 2023

Zone 2

•  Area: 65.95 hectares
• Zone 2 consists of 3 sub-zones
• Expected completion time: Q4 2024

This industrial park will be a destination for advanced and sustainable industrial enterprises. Green Park Vinh Phuc, with its strategic location and top-notch infrastructure, establishes a new benchmark for exceptional service quality and serves as a solid foundation for long-term prosperity.

Master plan map of Vinh Phuc Green Park Industrial Park – Vinh Phuc Province – TTTFIC GROUP

II. Geographical location:

The industrial park is located in the administrative boundaries of Huong Canh Town, Dao Duc, Phu Xuyen, and Tan Phong communes, Binh Xuyen District, Vinh Phuc Province.

With its strategic location, Green Park Vinh Phuc is connected to:

Noi Bai International Airport

• Situated at a distance of 18 km from Noi Bai International Airport, which can be reached in just 15 minutes.

Hanoi Economic Center

• Located 45 km from the center of Hanoi.
• Adjacent to key economic districts of Hanoi, facilitating the exchange of goods and business transactions.

Hai Phong Port

• Located 105 km from the major economic port of Vietnam, only a 1-hour drive.
• Green Park Vinh Phuc is close to the distribution center of the largest international port in Vietnam.

Cai Lan Port

• Located 160 km from Cai Lan Port, less than a 2-hour drive from the industrial park.
• Cai Lan Port can fully exploit niche markets, accommodate small container vessels, and transport goods to serve businesses.

In addition, it is also adjacent to major routes such as the Hanoi – Hai Phong Expressway, National Highway 5A-388-39A, etc.

Green Park offers convenient and flexible connectivity to nearby industrial parks including SEV Samsung Bac Ninh, SEVT Samsung Thai Nguyen, and Hyundai Ninh Binh.

III. Infrastructure of Green Park Vinh Phuc:

Internal transportation system:

• The main roads have cross-sectional widths ranging from 41m, 46m, to 50m.
• Branch roads have cross-sectional widths ranging from 13.5m to 26.5m.

Solar energy system:

• Utilizing a solar power generation and distribution system.

Electricity supply system:

• Supplied by an 11X63MVA transformer station from EVN (110/22kV).

Water supply system:

• Providing 36,000 m3/day of clean water (Phase 1) and 22,000 m3/day (Phase 2). Water pipes diameter ranging from D150mm to D400mm.

Environmentally-friendly water canal:

• A water reuse system that collects water from all water pipes within the industrial park.

Wastewater treatment plant:

• Total capacity of 15,000 m3/day, with plans for expansion in subsequent development phases.

Other amenities:

• IMS: Central management system. Includes wastewater treatment, power management, training, and 24/7 security.
• AI Security System: Integrated AI-powered security management system.
• Workforce training system: Training a professional and intelligent workforce to efficiently operate the smart industrial park.
• Regulating park: A 10-hectare regulating lake park.

Transportation connectivity to Vinh Phuc Green Park Industrial Park – Vinh Phuc Province – TTTFIC GROUP

IV. Investment-attracting industries at Green Park Vinh Phuc:

• Software production.
• Information technology, telecommunications, electronics.
• Assembly of machinery components.
• Manufacturing of mechanical products, household appliances, consumer goods.
• Aerospace industrial accessories.

V. Investment incentives at Green Park Vinh Phuc:

Corporate Income Tax Exemption:

• Businesses that meet the requirements are eligible to receive tax incentives at Green Park Vinh Phuc starting from the initial year of generating revenue.
• The basic incentive includes a two-year tax exemption and a 50% reduction in tax for the following four years. The highest level of incentive is maintaining a 17% tax rate for ten years, with an additional two-year tax exemption and a 50% reduction in tax for the following four years.

Import Tax Exemption:

• Imported goods used to establish fixed assets for businesses on the tax incentive list will be exempt from import tax.
• These investment incentives aim to attract investors and create favorable conditions for the development of Green Park Vinh Phuc.

VI. Labor Source and Costs:

Labor Source:

• As of 2021, Vinh Phuc province has an average population of approximately 1,191.8 thousand people, with around 642 thousand people in the working age group of 15 years and older. The labor force participation rate in the province is 54%.
• During the period from 2017 to 2021, Vinh Phuc province has trained about 142,226 individuals. The trained workforce includes 5,764 individuals with college degrees, 26,878 individuals with intermediate degrees, and 109,584 individuals with primary degrees. The proportion of trained labor has increased from 74.2% in 2019 to 76.1% in 2020, with 33.4% of the labor force holding certificates.
• By 2025, Vinh Phuc province aims to achieve a labor training rate of 82%, with 40% of the trained labor holding degrees or certificates.

Costs:

• Green Park Vinh Phuc is located within the administrative region of Zone II. Currently, the minimum wage in Zone II is 3,920,000 VND per month.

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