Van Thang Industrial Park

Overview of Van Thang Industrial Park:

Van Thang Industrial Park is located in the northern part of the Van Phong Economic Zone and was approved for detailed planning with a scale of 144.42 hectares in Decision No. 1626/QD-UBND dated August 12, 2005.

In 2008, the People’s Committee of Khanh Hoa province agreed to the proposal of Sao Vietnam Joint Stock Company and Tradco Global Engineering & Construction S.A (TGEC) to establish a high-tech park with a scale of 200 hectares to attract clean industrial and high-tech projects.

Geographical location:

Van Thang Industrial Park is located in Van Thang and Van Khanh communes, Van Ninh district, Khanh Hoa Province.

The total area of the industrial park is about 200 hectares.

Industrial park boundaries:

• It borders the planned area for the development of the Tu Bong new urban area in the north.
• It borders the center of Van Gia town, Van Ninh district, in the south.
• It borders the North-South railway line and the East Sea (South China Sea) in the east.
• It borders National Highway 1A in the west.

Advantages:

• It is adjacent to the planned area for the development of the Tu Bong coastal new urban area (2,000 hectares) and the Van Thang coastal new urban area (135 hectares), making it convenient for the development of an industrial park, service sector, and coastal urban model with Van Phong Bay being one of the deep and sheltered bays, close to international maritime routes.
• It has convenient transportation infrastructure including sea routes, air routes, roads, and railways, with existing or under-construction infrastructure facilities.
• There is an abundant local workforce with skilled labor.
• The project is located within the Van Phong Economic Zone, thus enjoying the best investment incentives (including secondary investment projects).
• Furthermore, the authorities are planning to develop this area into the North Van Phong Economic Zone, which may result in future incentives surpassing the current ones.

The infrastructure of Van Thang Industrial Park:

• Water supply: The industrial park is supplied with water from Ho Hoa Son Reservoir (capacity of 19 million m3) and Dong Dien Reservoir (capacity of 100 million m3), which is sufficient for construction and operation purposes.
• Electricity supply: The 220 KV national power grid meets the electricity demand for the entire industrial park during construction and operation.
• Telecommunications: The communication system in Van Ninh district meets the communication needs of investors.
• Transportation infrastructure: National Highway 1A and the North-South railway run along both sides of the industrial park.
• Labor training: Khanh Hoa province has 6 universities, 1 vocational college, and 7 vocational training centers. The investor can contract labor training according to their needs when implementing the project.

Attracting Investment of Van Thang Industrial Park:

Investment-attractive sectors:

• Oil refining, biotechnology, chemical manufacturing, construction materials, and seafood processing.
• Projects investing in clean industry and high technology.

Investment incentives:

Corporate and personal income tax:

• A corporate income tax rate of 10% is applied for 15 years. Tax exemption for 4 years and a 50% reduction for the following 9 years.
• 50% reduction in personal income tax for individuals working in the industrial park.

Import tax:

• 5-year import tax exemption for raw materials, supplies, and components that cannot be domestically produced and are imported for production purposes of projects in the investment priority sectors as regulated by investment laws (Article 13, Article 16 of the Law on Import and Export Taxes No. 107/2016/QH13).
• Import tax exemption for imported goods used for creating fixed assets of entities enjoying investment incentives as regulated by investment laws (Article 11, Article 16 of the Law on Import and Export Taxes No. 107/2016/QH13).

Land rental fee exemption:

• Land rental fee exemption during the basic construction period, not exceeding 3 years from the date of land or water surface lease agreement.
• Land rental fee exemption throughout the operation of the project.