Minh Hung 3 Industrial Park - Binh Phuoc Province

Minh Hung 3 Industrial Park: A Hub for Investors

Minh Hung 3 Industrial Park (Minh Hung 3 IP) stands out as a well-equipped industrial hub strategically situated in proximity to key areas. With robust infrastructure investments, the project consistently attracts both domestic and international investors, providing an ideal environment for production development and offering a conducive workplace for experts and workers. For comprehensive details about this industrial park, continue reading the article below!

I. Overview of Minh Hung 3 Industrial Park

Minh Hung 3 IP, established through Decision No. 1041/QD-UBND on May 21, 2008, by the Binh Phuoc People’s Committee, has become a pivotal driver of the region’s economic growth. Covering an expansive area of 291.52 hectares, the park received investment capital under license No. 44221000066 dated July 15, 2008. Initiated at the close of 2008, it is backed by Binh Long Rubber Industrial Park Joint Stock Company, with a total infrastructure investment of 289 billion VND, including a charter capital of 120 billion VND.

Boasting a modern and integrated infrastructure system, Minh Hung 3 IP strategically sits along National Highway 13, a crucial traffic artery playing a significant role in the overall economic development of the region. With over 15 years of operational history, the industrial park has consistently contributed to propelling the economy of Binh Phuoc province. It has garnered substantial attention from diverse investors, including those from Korea, Taiwan, and Japan. In recent years, the park has seen a continuous surge in Foreign Direct Investment (FDI) projects, solidifying its position alongside Becamex Binh Phuoc Industrial Park and Minh Hung Sikico Industrial Park. Together, these three projects represent robust foreign investments, exerting a substantial impact on the entirety of Chon Thanh district.

1. Scale of Industrial Park

Total planning area: 291,52 hectares

• Natural land for the industrial park: 291,52 hectares
• Administrative, service, and management land: 9,57 hectares
• Land for factories and enterprises: 177,68 hectares
• Green land: 45,84 hectares
• Technical infrastructure land: 6,39 hectares
• Traffic land: 39,91 hectares
• Warehouse land: 12,13 hectares
• Lease area: 38,5 hectares

II. Geographical Location of Minh Hung 3 Industrial Park

Minh Hung 3 IP is strategically situated in Minh Hung Ward, Chon Thanh Town, Binh Phuoc Province, Vietnam. The park boasts a gently sloping terrain in the North-South direction, featuring geology conducive to project planning and construction. This favorable topography consistently attracts both domestic and foreign investors, drawing interest in the establishment and development of production and business activities.

Positioned within the southern key economic region, Minh Hung 3 IP enjoys seamless connectivity through a comprehensive transportation network:

• Highway 13, links Ho Chi Minh City and Cambodia.
• National Highway 14, connects to the Central Highlands provinces.
• The forthcoming completion of the Ho Chi Minh Highway will facilitate connectivity with southwestern provinces.
• The Trans-Asia Railway project passes through the region, offering opportunities for streamlined goods exchange, benefiting not only Binh Phuoc province but also the entire Southeast region.

Minh Hung 3 IP is strategically located on coveted land, with its borders defined as follows:

• East: Adjacent to residential areas.
• West: Borders rubber plantations.
• South: Borders residential land.
• North: Borders the planned road to Dong No.

Distances to Key Economic Regions:

• Ho Chi Minh City: 80 km
• Binh Duong province center: 60 km
• Cambodia: 80 km
• Tan Son Nhat International Airport: 90 km
• Thanh Phuoc Port: 55 km
• Tan Cang-Cat Lai Port: 100 km
• Song Than Station: 74,6 km
• Dong Xoai town center: 43 km

III. Infrastructure of Minh Hung 3 Industrial Park

Minh Hung 3 IP prioritizes the development of infrastructure to achieve the status of a standard, environmentally friendly industrial park. The investor of the industrial park is committed to providing maximum support policies and fostering sustainable development for businesses within the park.

The industrial park’s infrastructure, with a total investment of 289 billion VND, is designed to create an efficient and convenient business environment for investing enterprises. Minh Hung 3 IP features a modern and comprehensive investment infrastructure system, encompassing:

1. Traffic System

The Industrial Park’s traffic system includes the central trunk road N11, linking National Highway 13 with internal roads within the park. The main east-west road spans 51 m in width with 6 lanes, the primary north-south road is 39m wide with 4 lanes, and internal roads are 24 m – 28 m wide with 4 lanes, capable of carrying loads up to 30 tons. This transportation network supports seamless movement, establishing a well-integrated system for the circulation of goods and the commuting of workers.

2. Electric Supplying System

The 220kV power supply system for the Industrial Park is a collaborative effort with Binh Phuoc Power Company, featuring a 110/22kV transformer station extending to the factory campus. Within the Industrial Park, a 22kV medium voltage line and 12 independent transformer stations are constructed to serve the lighting system, ensuring a stable and reliable electricity supply for factories and enterprises.

3. Water Supply System

Minh Hung 3 IP boasts a water supply capacity of 9.000 m³/day and night, guaranteeing an ample and consistent water supply for production and business activities.

4. Wastewater Treatment System

For businesses, wastewater is treated to meet B standards before discharge into the centralized wastewater treatment system of the Industrial Park. The park itself features a wastewater treatment system with a capacity of 8.550 m³/day and night, meeting standard A TCVN 5949:2005 before being discharged into the environment. The advanced solid waste collection system ensures effective wastewater treatment without causing environmental pollution.

5. Telecommunications System

An internal and international communication system caters to investors’ telecommunications needs, encompassing telephone and internet services. It is connected to the Chon Thanh district switchboard and designed with cable branches connecting to distribution cabinets serving different areas in the industrial park.

6. Other Public Facilities

Dedicated areas are planned for service facilities, including restaurants, post offices, banks, sports, cultural and entertainment zones. The industrial park features three fire protection areas, warehouses, and a fire station.

IV. Key Areas to Attract Investment in Minh Hung 3 Industrial Park

Minh Hung 3 IP, situated in Binh Phuoc province, stands out as a promising hub for various investment industries, contributing to the diversity of the business community and the regional economy. Leveraging its prime location and expansive rental area, Minh Hung 3 IP serves as a foundation for hosting multi-industry investment chains. The industries fostered within the park align with market demands, ensuring environmental safety.

The industrial park gives priority to investments in the following sectors:

• Wood Processing Technology, Footwear, Interior Decoration.
• Production of High-Tech Rubber, Cosmetics, and Pharmaceuticals.
• Engineering and High-Tech Industries.
• Mechanical Assembly and Machinery Manufacturing.
• Electronics, Telecommunications, Information Technology.
• Textile.
• Construction Materials: Glass, Ceramics, etc.
• Agricultural Products: Agricultural and Aquatic Product Processing, Handicrafts, etc.
• Consumer Goods Manufacturing Industries.

V. Investment costs at Minh Hung 3 Industrial Park

Below is the investment cost of Minh Hung 3 IP, Binh Phuoc Province as follows:

VI. Investment Incentives in Minh Hung 3 Industrial Park

Investors in Minh Hung 3 IP enjoy favorable policies and conditions outlined in Binh Phuoc province’s Investment Incentive Policy. The Industrial Park further aids investors in navigating administrative procedures related to their investment, coupled with an attractive and reasonable land rental policy to stimulate investment.

1. Corporate Income Tax

• Initial 15 years: 17%.
• Subsequent years: 20%.
• Corporate income tax is exempted for the first 2 years from taxable income and reduced by 50% for the next 4 years, following Decree No. 124/2008/ND-CP.

2. Import and Export Tax

• Exemption from import and export tax for machinery, equipment, and specialized vehicles creating fixed assets.
• Exemption for raw materials and materials used in export production.
• Exemption for construction materials that cannot be produced domestically.
• Exported goods produced for export are also tax-exempt.

3. V.A.T Tax

• VAT applies to goods and services consumed in Vietnam.
• Tax rates: 0%, 5%, and 10%.
• 0% tax rate applies to exported goods and services, including those provided to Export Processing Zones.

VII. Labor Source and Labor Costs at Minh Hung 3 Industrial Park

Minh Hung 3 IP stands out as a significant project with substantial economic potential, offering development and investment opportunities for the entire Binh Phuoc province region. The park has consistently exceeded expected production and business efficiency, providing an ideal living and working environment for both investors and workers. With an impressive workforce of up to 22 thousand highly skilled workers, and plans for social security housing and essential amenities, the park contributes significantly to the economic and social development of the province.

VIII. Economic Value at Minh Hung 3 Industrial Park

Minh Hung 3 IP consistently advocates for support policies, guides legal procedures during project implementation, and aids labor recruitment. With over 20 domestic and foreign projects and a 100% occupancy rate, the park plays a pivotal role in attracting FDI investment. Notable projects, such as VRG Dongwha MDF Group, demonstrate the park’s success and commitment to meeting investors’ needs. The advanced infrastructure, modern technology, and privileged land fund make Minh Hung 3 IP an appealing prospect for future investors.