Viet Huong 1 Industrial Park - Binh Duong

I. Overview of Viet Huong 1 Industrial Park – Binh Duong:

Viet Huong 1 Industrial Park is one of the first private industrial parks in Binh Duong, Vietnam. The industrial park covers a total area of 36,064 hectares, including areas for factory construction, public services, technical infrastructure, green spaces, and transportation. It was certified for investment by the Ministry of Planning and Investment and its detailed planning was approved by the Ministry of Construction. Viet Huong 1 Industrial Park was established in 1996, with Vietnam Viet Huong Joint Stock Company being the investor, with a total investment capital of 56.4 billion VND.

With its strategic location and complete infrastructure, Viet Huong 1 Industrial Park attracts significant interest from investors. Situated in Binh Duong province, one of the highly developed economic regions in southern Vietnam, this industrial park is close to Ho Chi Minh City, facilitating trade and transportation of goods.

Moreover, Viet Huong 1 Industrial Park benefits from an abundant and highly skilled labor force in the area. This ensures that businesses investing in the industrial park have access to quality human resources suitable for their production and management needs.

Being situated in a strongly developing region of Binh Duong and having more than 25 years of experience in constructing and operating industrial parks, Viet Huong 1 Industrial Park takes pride in providing a safe and promising investment environment for enterprises. Additionally, the government’s tax incentives and investment privileges are attractive features for potential investors here.

With all its advantages and development potential, Viet Huong 1 Industrial Park is a reliable destination for businesses seeking investment opportunities in the industrial sector in Binh Duong and Vietnam as a whole. Companies should consider this industrial park to ensure the success and sustainability of their investment strategies.

II. Geographical location of Viet Huong 1 Industrial Park – Binh Duong:

Viet Huong 1 Industrial Park – A strategic location connecting to regions and major centers.

Viet Huong 1 Industrial Park enjoys a prime location on National Highway 13, Thuận Giao Ward, Thuận An Town, Binh Duong Province. With this “golden” location, Viet Huong 1 Industrial Park becomes an attractive destination for businesses investing and developing their production activities.

Strategic location connecting to regions:

Viet Huong 1 Industrial Park has a central location, making it convenient to connect with neighboring regions and major cities in the area, including:

• Thu Dau Mot City Center, Binh Duong: about 6 km away.
• New Binh Duong City Center: about 15 km away.
• Bien Hoa City Center, Dong Nai: about 18 km away.
• Ho Chi Minh City Center: about 23, km away.

Adjacent to airports and seaports:

Viet Huong 1 Industrial Park also borders important airports and seaports, providing favorable conditions for the import-export and logistics operations of enterprises.

• Tan Son Nhat International Airport: about 22,4 km away.
• Long Thanh International Airport: about 50 km away.
• Binh Duong Port: about 17 km away.
• Tan Cang – Cat Lai Terminal: about 28,3 km away.
• Tan Cang – Cai Mep Terminal: about 70,9 km away.

Thanks to its strategic location, Viet Huong 1 Industrial Park attracts many investment projects, contributing positively to the economic development of Binh Duong province and the surrounding region.

III. Infrastructure of Viet Huong 1 Industrial Park – Binh Duong:

Viet Huong 1 Industrial Park boasts a modern infrastructure system that meets high standards and is suitable for the production needs of businesses. Below are the basic facilities of the industrial park, providing favorable conditions for businesses operating here:

Internal transportation system:

The industrial park has a complete internal road network. Roads are 17.5 meters wide with 2 lanes, facilitating goods movement and transportation.

Water supply system:

Viet Huong 1 Industrial Park utilizes pure water that meets global health standards. The water supply capacity reaches 8,000 cubic meters per day and night, distributed to each production plot.

Power supply system:

The industrial park’s electricity supply is at 110/22kV, with a power capacity of up to 40MVA to meet the electricity demand of various plots and businesses.

Communication system:

The industrial park meets businesses’ information connectivity needs. It has pre-installed telephone lines to each plot and a flexible fiber optic network. This network connects with broadband telecommunication providers and leased line channels.

Wastewater treatment system:

The industrial park has a wastewater treatment plant. It can handle 6,000 cubic meters per day and night. It ensures treatment and compliance with environmental standards. Finally, it discharges into the environment.

Fire protection system:

Safety from fire and explosions is always a top priority in the industrial park. With a highly specialized fire brigade, the park is equipped with a network of water distribution pipes along internal road axes. The 24/7 security team is trained in firefighting and riot control skills to ensure absolute safety for businesses and employees.

IV. Investment-attracting industries in Viet Huong 1 Industrial Park – Binh Duong:

Viet Huong 1 Industrial Park is an ideal investment destination for businesses, offering a diverse list of attractive and potential industries. The park’s primary industries comprise:

• Textile, garment, and leather footwear.
• Handicrafts.
• Household goods manufacturing.
• Children’s toys.
• Electronics assembly.

V. Investment cost in Viet Huong 1 Industrial Park – Binh Duong:

Viet Huong 1 Industrial Park is one of the prominent industrial zones in Binh Duong Province, Vietnam. With its strategic location and modern infrastructure, the park has attracted diverse businesses for investment and manufacturing activities. To understand the investment cost in this industrial park better, consider the following important information:

Land lease fee: Viet Huong 1 Industrial Park offers land lease packages at reasonable prices, only 200 USD/m2 for a 50-year lease. This competitive and suitable price is attractive to businesses seeking locations for headquarters or production plants.

Service fees: The service fee in the industrial park is 0.4 USD/m2/month. Businesses will enjoy modern and high-quality utility services, including support and maintenance services, etc.

Minimum contract size: Businesses can sign contracts with a minimum area of 1 hectare, and a 30% deposit is required to secure the land use rights.

Electricity and wastewater fees: The electricity cost in the industrial park is 0.05 USD/KWh, while the wastewater fee is 0.28 USD/m3. This pricing enables businesses to save on production operating costs.

Water fee: The water cost in Viet Huong 1 Industrial Park is 0.4 USD/m3, ensuring a stable and clean water supply for businesses operating in the area.

In conclusion, with the information above, Viet Huong 1 Industrial Park is an attractive choice for businesses with investment needs in this region. Reasonable investment costs and convenient infrastructure will help businesses maximize development opportunities and achieve success in their operations.

VI. Investment Incentive Policies in Viet Huong 1 Industrial Park – Binh Duong:

Land Rent:

• Exemption from land rent and water surface rent for the entire lease term. Applicable to projects constructing shared infrastructure in industrial parks and clusters. Projects must be approved according to authorized planning.
• New production and business establishments of economic organizations relocated according to planning or due to environmental pollution are eligible for a 3-year exemption from land rent and water surface rent. The exemption starts from the completion and operation date of their projects. This incentive is provided to projects listed in the list of investment incentive sectors, as regulated by Decree No. 118/2015/ND-CP issued by the Government on November 12, 2015.
• Investment projects eligible for an 11-year exemption from land rent and water surface rent are those falling under the specially incentivized sectors. These sectors are stipulated in Government Decree No. 118/2015/ND-CP dated November 12, 2015.

Corporate Income Tax:

Applying a preferential tax rate of 10% for 15 years and exempting tax for 04 years, reducing 50% of the payable tax in the following 09 years for enterprises carrying out new investment projects in the following fields:

• Scientific research and technological development.
• Production of software products.
• Manufacturing composite materials, lightweight construction materials, and scarce materials.
• Generating renewable energy, clean energy, and energy from waste disposal.
• Development of biotechnology.

Import Tax:

• Exemption from import tax for imported goods to create fixed assets for subjects enjoying incentives as regulated by investment laws, including:
• Machinery, equipment; components, spare parts, detachable parts, and accessories for assembly or synchronous use with machinery, and equipment.
• Raw materials are used to manufacture machinery, and equipment or to manufacture components, spare parts, detachable parts, and accessories of machinery, and equipment.
• Specialized vehicles are directly used in the production line of the project.
• Locally manufactured construction materials are not available at present.

Thanks to attractive incentives, Viet Huong 1 Industrial Park attracts many domestic and foreign enterprises. They invest and expand production, boosting regional economic development and benefiting businesses and the community sustainably.

VII. Diverse and High-quality Labor Force in Binh Duong Province:

Labor Force:

Viet Huong 1 Industrial Park in Binh Duong is an attractive location that draws many businesses, and the labor force here is noteworthy. Based on collected data, the total labor force in the province is nearly 1.2 million people, with a majority employed in businesses operating in this area. This creates favorable conditions for enterprises to search for and recruit suitable human resources.

The proportion of young and highly skilled labor force is a strength of Binh Duong. The province currently has 100 vocational education institutions, attracting around 30,000 students participating in vocational courses at the college, intermediate, and elementary levels, and vocational training courses under 3 months. Upon completion of these courses, students will greatly contribute to increasing skilled labor proportion to 80.5%. Approximately 30% of students will possess diplomas and certified skills.

Viet Huong 1 Industrial Park attracts enterprises with a diverse, high-quality labor force. It offers favorable conditions for investors to find talented, reliable human resources for production and business activities.

Reference Cost:

In Binh Duong, the wages of workers can vary depending on several factors, such as the industry, job position, educational level, work experience, and size of the enterprise. On average, the wages of workers in Binh Duong may range from 200 – 400 USD/month for basic production staff and 400 – 800 USD/month for engineers and senior specialists.