Son My 1 Industrial Park (IPICO) - Binh Thuan Province

Son My 1 Industrial Park (IPICO), La Gi Town, Binh Thuan Province, Vietnam – Strategically Located on the East Coast

I – Overview:

• Son My 1 Industrial Park (IPICO) is an industrial park located in Son My commune, Ham Tan district, Binh Thuan province, Vietnam. Established in 2018, the industrial park covers a total area of 1,070 hectares. IPICO is a multi-sector industrial park, focusing primarily on industries such as construction material manufacturing, electrical and electronic equipment manufacturing, information technology, mechanical engineering, consumer goods processing, food, and power center.
• IPICO offers attractive investment incentives, including corporate income tax exemption for the first 4 years, a 50% reduction in corporate income tax for the following 9 years, and favorable import-export tax policies. With its favorable location, comprehensive technical infrastructure, and investment incentives, IPICO has attracted numerous domestic and international investors, including those from Japan, South Korea, Taiwan, Singapore, and more.
• Contributing significantly to the economic development of Binh Thuan province, IPICO has generated employment opportunities for local residents and contributed to the state budget. It is poised for substantial future development and is expected to become one of Vietnam’s major industrial park

II – Geographic Location:

The Son My 1 Industrial Park project is located in hamlet 3, Son My commune, Ham Tan district, Binh Thuan province. The overall planning of the Son My Industrial-Service Complex includes:

• East: Tan Phuoc commune, Lagi town;
• West: bordering Tan Thang commune, Ham Tan district;
• South: East Sea (Bien Dong);
• North: agricultural land in Son My commune, Ham Tan district.

As part of the overall plan for the Son My Industrial-Service Complex covering 2,377.5 hectares, the various sectors include:

• Industrial park: 1,610 hectares (comprising Son My Industrial Park 1 with an area of 1,070 hectares and Son My Industrial Park 2 with 540 hectares).
• Residential Area: 300 hectares (including the urban residential area of Son My with 183 hectares and the existing residential area of 117 hectares).
• Golf Course Area: 182 hectares.
• Trung Thuy Tourist Area: 37 hectares.
• Green Space Area: 199 hectares.
• Non-Urban Transportation: 49.5 hectares.

The Son My 1 Industrial Park project has a total area of 1,070 hectares, including:

• Factory Construction Land: 739.71 hectares.
• Green Space and Water Surface: 127.90 hectares.
• Coastal Service Land: 81.19 hectares.

III – Infrastructure:

The project features a modern and comprehensive technical infrastructure, covering electricity, water supply, wastewater treatment, telecommunications, and internal transportation. IPICO benefits from a convenient transportation location, approximately 120 km from Ho Chi Minh City and 80 km from the Thi Vai-Cai Mep seaport.

IV – Attractive Investment Sectors:

• Nestled along the serene coast of the East Sea, La Gi town in Binh Thuan province, Vietnam, not only serves as an appealing tourist destination but also stands out as an economically potent area, notably with the presence of the Son My 1 Industrial Park (IPICO) – a pivotal milestone in the sustainable development of the region.
• Son My 1 Industrial Park is envisioned to develop into a smart, environmentally-friendly industrial park, prioritizing renewable energy, clean energy, and carbon and greenhouse gas emissions reduction. The infrastructure includes transportation systems, water supply and drainage systems, wastewater treatment, and electricity.

V – Investment Incentives:

• Investors in the Son My 1 Industrial Park enjoy significant incentives, including a 4-year corporate income tax exemption and a 50% reduction in corporate income tax for the subsequent 9 years, as well as favorable import-export tax policies. With a planned area of 2,377.5 hectares, IPICO serves not only as a large-scale production center but also as a crucial hub driving the local economy.
• Situated next to the East Sea, IPICO leverages this strategic location to connect not only with domestic regions but also with the international market, opening up opportunities for exports and international economic cooperation.

VI – Investment Costs:

Detailed information about investment costs in the Son My 1 Industrial Park is available upon request. To meet diverse business needs, IPICO will invest heavily in modern infrastructure, providing state-of-the-art facilities and services. A robust internal transportation system, reliable electricity, water, and telecommunications networks have been established to facilitate production and cargo transportation. The industrial park also includes dedicated areas for logistics and warehouses, optimizing the supply chain and enhancing competitiveness.

VII – Labor Force and Labor Costs:

Son My 1 Industrial Park benefits from an available labor force, and detailed information on labor costs can be provided based on specific requests. Committed to building a skilled workforce, IPICO collaborates closely with educational institutions to ensure a high-quality labor force. Training and development programs are implemented to enhance skills and overall quality, creating favorable conditions for sustainable business development.

VIII – Business Support – Reliable Partner:

IPICO not only provides infrastructure but also serves as a reliable partner for businesses. By assisting with business registration, customs procedures, and other legal matters, IPICO helps businesses focus entirely on production and business development. With a harmonious combination of a prime location, modern infrastructure, high-quality labor force, and enthusiastic support from IPICO, Son My 1 Industrial Park plays a crucial role in driving the economic development of La Gi town and the entire Binh Thuan province. It is not just an industrial park; it is a powerful catalyst for the bright future of this region.