VSIP Thai Binh Industrial Park
VSIP Thai Binh Industrial Park. Area: 333.4 ha – Term: 2073.
Overview
The VSIP Thai Binh Industrial Park project was approved for investment policy by the Deputy Prime Minister Tran Luu Quang under Decision No. 1004/QD-TTg dated August 29, 2023. The project is located in two communes: An Tan and Thuy Truong, Thai Thuy District, within the Thai Binh Economic Zone. The project covers an area of over 333 hectares, excluding the river dyke area of Huu Hoa estuary, the coastal dyke No. 8 (7.86 ha), and the compensating canal (3.41 ha). The project’s operational term is 50 years from the date the investor is allocated or leased the land by the State.
The VSIP Thai Binh Industrial Park is developed by Vietnam – Singapore Industrial Park and Township Development Joint Stock Company (VSIP), a reputable and successful investor in infrastructure development and investment attraction across Vietnam. The total investment capital for the VSIP Thai Binh Industrial Park is estimated at over VND 4,932 billion, equivalent to nearly USD 212 million.
This project plays an important role in promoting investment attraction and economic growth in Thai Binh Province, concretizing the development goals of the Thai Binh Economic Zone. VSIP’s decision to invest in Thai Binh affirms the province’s potential, advantages, and attractive business environment. The VSIP Thai Binh Industrial Park will strengthen Thai Binh’s credibility in attracting investment, particularly foreign direct investment (FDI), creating a breakthrough in developing the economic zone as a model of high-tech, green industrial development that brings significant economic efficiency, generates employment, and improves the living standards of local residents.
Under the direction of provincial authorities, Thai Thuy District and media agencies have promoted communication about the investment policy and project information to build public consensus, facilitating a smooth and effective project implementation. The province aims to commence construction of the VSIP Thai Binh Industrial Park in early 2024.
Location
The project is located in An Tan and Thuy Truong communes, Thai Thuy District, within the Thai Binh Economic Zone. The distances to major industrial and transport hubs are as follows:
Infrastructure
Internal Transportation
The internal road system is designed and built with modern, synchronized infrastructure. The main roads are designed for 4 lanes, and branch roads for 2 lanes, ensuring smooth internal and cargo transport.
Power Supply System
Electricity is supplied to each land plot, ensuring stable power for all investors’ needs.
Public Lighting System
The lighting network is designed independently from the main electricity system, installed along all internal roads.
Water Supply System
A modern and synchronized clean water plant will be constructed to ensure adequate water supply for all investors’ production and operational needs.
Rainwater and Wastewater Drainage
The rainwater and wastewater drainage systems are designed and constructed separately to ensure environmental safety.
Solid Waste Treatment
Solid waste (mainly ceramic scraps, construction materials, etc.) is sorted by factories and transported to the district’s central waste disposal area.
Wastewater Treatment
The wastewater treatment station meets Vietnamese standards. Treated water meets Grade A standards before being discharged into the environment.
Telecommunication System
The telecommunication infrastructure is modern and synchronized, meeting international standards and ensuring comprehensive domestic and international connectivity.
Supported Industries
VSIP Thai Binh Industrial Park focuses on attracting investment projects in clean, modern, and green industries such as:
electronics, precision engineering, agricultural and food processing, consumer goods manufacturing, warehousing, and logistics services.
Labor costs
VSIP Thai Binh Industrial Park is located in Thai Thuy District, Thai Binh Province, classified as Region IV.
Therefore, the current minimum wage for Region IV is VND 3,250,000 per month.
Social Infrastructure
Customs Service: The industrial park is located near the customs office.
Banking: Several banks are located close to the industrial park, making transactions convenient. ATM machines will also be installed within the park to meet workers’ needs.
Postal Services: Modern information and communication systems are available, including data transmission, telephone, internet, and video conferencing.
Bus System: A network of bus routes connects the park with Hai Duong, Hanoi, Quang Ninh, Hai Phong, Bac Ninh, Tuyen Quang, Nghe An, and Ha Tinh.
Fire Protection: The park is equipped with an on-site fire protection system, including hydrants along internal roads.
Housing: The industrial park is near residential areas that can meet workers’ housing and living needs.
Healthcare: Thai Thuy District has a developed healthcare system with local medical stations to serve residents and workers.
Education: The district has a full education system from kindergarten to college and vocational training institutions.
Investment Advantages
Reputable Investor
VSIP Group is the largest Vietnam–Singapore partnership, investing in 13 locations nationwide with 17 industrial parks, covering a total area of over 11,000 hectares.
Coastal Economic Zone Incentives
Located within the Thai Binh Economic Zone, enterprises in VSIP Thai Binh Industrial Park enjoy numerous incentives, including:
Corporate income tax: 10% preferential rate for 15 years; 4-year tax exemption and 50% reduction for the Next 9 years.
Land rent: 13 years of land rental exemption.
Import tax, personal income tax, and other incentives as prescribed for economic zones.
High-Quality Workforce
Thai Thuy District focuses on vocational training to improve the quality of its labor force. The district has organized more than 170 vocational training classes, helping thousands of workers gain employment and increase income. This ensures a stable, skilled, and high-quality labor supply for investors.
(Note: all information above is for reference only. Actual information will be calculated according to the current time)
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