Phong Phu Industrial Park - Ho Chi Minh City
Phong Phu Industrial Park – Ho Chi Minh City. Area: 163.3 ha – Term: Until 2052
Phong Phu Industrial Park (PPIP) operates under the regulations of Industrial Parks, Export Processing Zones, and High-Tech Zones as stipulated in Decree No. 36/CP dated April 24, 1997. It is directly managed by the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA).
PPIP was established under Decision No. 98/QĐ-TTg dated January 31, 2002, issued by the Prime Minister. The infrastructure investment and development are managed by Binh Chanh Construction Investment Joint Stock Company.
- Total Area: 163.3 ha
- Industrial Service Land: 67 ha (including residential areas for specialists, supermarkets, and hospitals)
- Total Investment Capital: 436.5 billion VND
Location
Phong Phu Industrial Park is strategically located at the intersection of Nguyen Van Linh Boulevard and Trinh Quang Nghi Street, adjacent to Phu My Hung Urban Area in Binh Chanh District, Ho Chi Minh City. The project is well-connected by both road and waterway transport:
- East: Adjacent to Huong Lo 7
- West: Bordering Can Giuoc River
- South: Rice fields of Phong Phu Commune and small canals
- North: Nguyen Van Linh Boulevard
Development Purpose
The primary objective of the project is to build, develop, and operate infrastructure and utility services within the industrial park, promoting the relocation of factories from inner Ho Chi Minh City. It also aims to attract new investments with modern equipment, meeting the demands of industrialization and modernization.
Current Status
Despite being established over 20 years ago, Phong Phu Industrial Park remains unfinished, with numerous legal and construction issues:
- The site is now a vast, abandoned area overgrown with weeds.
- Infrastructure development remains uncompleted, with only rough dirt roads and a few temporary constructions.
- Some plots within the park are being used as rental warehouses and car parking lots.
Due to unresolved issues and violations, Sacombank is auctioning the industrial park for 14,577 billion VND.
Financial and Legal Issues
According to the Ho Chi Minh City Inspectorate, PPIP faces severe financial difficulties:
- Outstanding debts significantly exceed the available capital, making debt repayment unfeasible.
- The company has lost financial and human resource capacity to continue the project.
- The Inspectorate has recommended land reclamation as per regulations.
Infrastructure
Since the project has not been fully implemented, detailed infrastructure information is not available.
Conclusion
Phong Phu Industrial Park presents a high-risk investment due to its unfinished state and significant legal and financial issues. Investors are advised to thoroughly assess the situation and consider the potential for land reclamation before making any commitments.
(Note: all information above is for reference only. Actual information will be calculated according to the current time)
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