Lap Thach I Industrial Park - Vinh Phuc

I. Overview of Lap Thach I Industrial Park – Vinh Phuc:

Lap Thach I Industrial Park received approval as an additional inclusion in Vinh Phuc province’s industrial park master plan, as stated in the Official Letter No. 1581/TTg dated September 3, 2009, by the Prime Minister. Lap Thach I Industrial Park, which was approved by the Vinh Phuc Provincial People’s Committee on May 11, 2015, with a detailed plan at a scale of 1/500 in Decision No. 1203/QD-UBND, is estimated to cover an area of approximately 150 hectares.

The approved plan states that Lap Thach I Industrial Park has a planned area of 128.46 hectares (with a reduction of 5.65 hectares compared to the initial plan approved by Vinh Phuc province) due to the exclusion of residential areas, vocational training centers, and the Lập Thạch town landfill.

The industrial park is located within the administrative boundaries of Lap Thach town and Xuan Loi commune, Lap Thach district, Vinh Phuc province.

Favorable:

Lap Thach I Industrial Park borders residential areas, agricultural land, and hills on all four sides. Currently, it is located in the center of the key economic region in the North: Hanoi – Hai Phong – Quang Ninh. This is one of the most favorable locations in terms of production costs, labor, as well as reasonable construction for supplying goods to major cities in neighboring areas and for transportation within and outside the country.

Furthermore, since its establishment, this industrial park has attracted many businesses from various sectors to develop the economy here. Along with the rapid development of the industrial park, it has created employment opportunities and made significant contributions to the economic development of Vinh Phuc. With synchronized infrastructure, quality services, and an attractive investment environment, Lap Thach I Industrial Park – Vinh Phuc continues to attract the attention and investment of domestic and foreign enterprises. The development of this industrial park has played an important role in the economic development of Vinh Phuc and has accelerated the province’s industrialization and modernization process.

With its strategic geographical location, Lap Thach I Industrial Park is one of the major investment attractions in Vinh Phuc.

Master plan map of Lap Thach I Industrial Park – Vinh Phuc – TTTFIC Group

II. Geographical Location of Lap Thach I Industrial Park – Vinh Phuc:

Lap Thach I Industrial Park is a concentrated industrial zone with comprehensive technical infrastructure, encompassing a wide range of industries with modern and advanced technologies that are non-polluting and environmentally friendly.

The industrial park is adjacent to Provincial Road 305 and:

• It is located 49 km from Noi Bai International Airport.
• It is situated 75 km from the center of Hanoi.
• It is approximately 24 km from Vinh Yen city and 20 km from Viet Tri city.
• It is positioned 194 km from Hai Phong port and 195 km from Cai Lan port.
• It is about 21 km from Viet Tri Station.

III. Infrastructure of Lap Thach I Industrial Park – Vinh Phuc:

Power supply system:

• The production facilities in Lap Thach I Industrial Park are supplied with electricity from the existing Lap Thach substation.
• In the future, the power supply will be replaced by a new 110/22kV substation in the Lap Thach area.
• They arrange the 22kV power lines to connect to each plot of land in the industrial park, running overhead through a system of centrifugal concrete poles.

Water supply system:

• Lap Thach I Industrial Park sources clean water for production from the Dong Tinh water plant (with a capacity of 80,000 m3/day) and the upcoming Duc Bac water plant.
• It is designed to provide water for domestic use, fire prevention, and production, connecting to each plot of land in the industrial park.

Wastewater treatment system:

• All wastewater generated in the industrial park is treated by a centralized wastewater treatment system.
• Phase 1 has a capacity of 1,500 m3/day, while Phase 2 has a capacity of 2,700 m3/day.
• The system is capable of treating wastewater from standard C to standard A according to Vietnam’s environmental technical standards.

Internal road system:

• The main road in the industrial park has a width of 36 meters, with a roadbed width of 2*10.5 meters.
• Branch roads and secondary roads within the industrial park have a width of 24 meters, with a traffic lane width ranging from 7.5 to 12 meters.
• The entire internal road system is designed with greenery on both sides to enhance the landscape.

Communication system:

Installation teams install fiber optic and telecommunication cables in cable trenches along the sidewalks of the roads within the industrial park, ensuring connectivity to each plot of land.

Fire prevention and firefighting system:

• The authorities strategically place fire hydrants along the roads within Lap Thach I Industrial Park, maintaining a distance of 120 to 150 meters between each hydrant.
• The low-pressure water system ensures timely response to fire incidents within the industrial park.

A perspective on Lap Thach I Industrial Park – Vinh Phuc – TTTFIC Group

IV. Main industries attracting investment in the industrial park:

The industrial park focuses on attracting investment in industries that are environmentally friendly and generate low pollution, including:

• Consumer goods manufacturing
• Food processing
• Building materials
• Mechanical engineering
• Construction components
• Medical equipment and pharmaceuticals.

V. Land leasing costs in the industrial park:

• Investment costs: The price for leased land with infrastructure ranges from 100 to 155 USD/m2/year.
• The expected price for raw land leasing is 0.085 to 0.21 USD/m2/year.
• Management fee: 0.4 USD/m2.
• Electricity cost: 0.03 – 0.1 USD/kWh.
• Water cost: 0.5 USD/m3.
• Wastewater treatment cost: 0.35 USD/m3.

VI. Labor Force in the Industrial Park:

Vinh Phuc province has an average population of approximately 1.231 million people as of 2019. The working-age population accounts for 70%, with 65% of them having received training and holding degrees or certificates.

In the total number of people employed, managers account for 1.32%. High-level technical professionals account for 8.4%, mid-level technical professionals account for 4.01%, and low-skilled workers account for 47.32%. Skilled workers make up 38.8%, while other types of jobs account for 0.05%.

The number of workers employed in Vinh Phuc province’s industrial parks is increasing due to the development of the industrial park and the expansion of investment scale by businesses.

With an abundant young workforce, it can meet the demand for general labor by investors. With its proximity to Hanoi, experts and specialized professionals can easily participate in the development of factories and businesses with investors.

• The average salary for general laborers ranges from 6 to 9 million VND per month.
• Engineers and specialized department officers will have higher salaries depending on the job position, ranging from 8 to 25 million VND.

The industrial park aims to increase the industrial production value by an average annual rate of 22% by 2025, generating employment opportunities for over 10,000 workers.

VII. Investment Incentives of Lap Thach I Industrial Park – Vinh Phuc:

• Companies enjoy a 20% corporate income tax rate for 10 years.
• Incentives for corporate income tax in the industrial park include 100% exemption for the first 2 years. After that, there is a 50% reduction in tax for the following 4 years. These incentives apply to new investment projects.
• Import tax incentives: Exemption from import taxes for goods in the preferential tax list used to establish fixed assets for enterprises.

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