Minh Duc Industrial Park - Hung Yen

 Overview of Minh Duc Industrial Park – Hung Yen:

Minh Duc Industrial Park came into existence in 2007, situated within the borders of Minh Duc Commune, Bach Sam Commune, and Ngoc Lam Commune, in the My Hao District of Hung Yen Province.

With an area of 198 hectares, Vnt Investment And Infrastructure Development Joint Stock Company is an investor.

The industrial park offers an investor-friendly investment environment with favorable technical infrastructure. In recent years, it has become a preferred destination for many foreign investors, notably from Japan, South Korea, China, France, and the United States. The strategic location of Minh Duc Industrial Park allows for convenient trade connections with neighboring provinces, as well as seaports, land ports, and airports, resulting in cost and time savings for transportation, particularly for import and export activities.

The designers have equipped Minh Duc Industrial Park with modern facilities to cater to the diverse needs of investors. As a result, the park has attracted 31 projects, leasing approximately 39 hectares of land, accounting for nearly 30% of the total industrial land available for lease.

Situated near Ha Noi in Hung Yen Province, Minh Duc Industrial Park offers a prime location with an ample pool of youthful workforce. This advantageous position not only provides investors with favorable circumstances for recruiting and training labor but also enables them to reap the benefits of reduced labor costs and access to cost-effective services.

The infrastructure of Minh Duc Industrial Park – Hung Yen:

Internal Traffic:

• Main roads: with a cross-section of 34m.
• Branch roads: with a cross-section of 18.50m.

Electrical System:

Power source: 22KV to ensure stable power supply 24/7 for production enterprises, even during peak seasons, and can be tailored to the specific needs of each business.

Public Lighting System:

The street lighting network is designed separately with a household power supply system arranged along the traffic routes.

Water System:

The water supply system is connected to each business’s perimeter wall, with a capacity of 20,000 m3/day and night.

Wastewater and Stormwater System:

• Stormwater system: collected through a drainage system and discharged into rivers within the area.
• The wastewater system collects and sends wastewater to the industrial wastewater treatment plant.

Waste Management:

The facility within the industrial park will sign contracts with waste sorting, collection, and transportation units to ensure the removal of waste from the industrial park, thereby preventing environmental pollution.

Wastewater Treatment:

The centralized wastewater treatment system of the industrial park has a capacity of 5,000 m3/day and night.

Communication Information System:

• The telecommunication system meets international standards and is always ready to meet communication information needs.
• The underground fiber optic cable system is directly connected to each business’s perimeter.

Firefighting System:

The industrial park arranges a water supply system with firefighting hydrants along its roads.

Construction Land:

The land plots have been processed and are ready for the construction of the factory.

Industries attracting investment in The Industrial Park:

• Manufacturing and assembly of electrical, electronic, and refrigeration equipment.
• Paper, packaging, and ceramic production.
• Processing agricultural and forestry products, as well as food processing.
• Production of consumer goods.
• General light industry.

Advantages of investing in Industrial Park:

Labor Cost:

• Minh Duc Industrial Park is located in My Hao District, Hung Yen Province, which falls under Zone II.
• As a result, the current minimum wage in Zone II is 3,920,000 VND per month.

Tax incentives:

Regarding corporate income tax:

• Enjoy a tax rate of 10% for 15 years and a tax exemption for 4 years, with a 50% reduction in tax payable for the following 9 years for income derived from new investment projects in certain special priority sectors as regulated by the corporate income tax law.
• Enjoy a tax rate of 17% and a tax exemption for 2 years, with a 50% reduction in tax payable for the following 4 years for income derived from new investment projects in sectors such as high-quality steel production, energy-saving product manufacturing, production of machinery and equipment for agriculture, forestry, fisheries, and match industries, irrigation equipment manufacturing, livestock, poultry, and aquatic feed production and refining, etc.
• Enjoy a tax exemption for 2 years and a 50% reduction in tax payable for the following 4 years for enterprises implementing new investment projects within the industrial park.

Regarding import tax:

• As per the export tax and import tax law, the industrial park grants exemption from import taxes on imported goods utilized for establishing fixed assets in investment projects.
• These tax incentives aim to attract and support businesses operating within Minh Duc Industrial Park, creating an advantageous investment environment and encouraging economic growth in the region.

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