Bac Giang has two more IP infrastructure development projects

Hanoi (VNA) - The People’s Committee of northern Bac Giang province has granted investment registration certificates to two industrial park (IP) development projects with a combined capital of nearly 4 trillion VND (174.72 million USD). 

Capella real estate developer will channel in close to 2.7 trillion VND to build infrastructure in the Yen Lu industrial park spanning 377 ha in Yen Lu commune of the province’s Yen Dung district. 

The park plans to attract secondary investors starting this November. Upon its operation, it is projected to create jobs for up to 42,000 workers.

Meanwhile, Lideco 1 Joint Stock Company will fuel nearly 1.2 trillion VND for the building of infrastructure at the Tan Hung industrial park of 105.3 ha in Lang Giang district’s Tan Hung and Xuong Lam communes.

The park is set to call for investment from February next year and generate jobs for 30,000 workhands.

Speaking at the ceremony to hand over the certificates, Chairman of the Bac Giang People’s Committee Le Anh Duong said the two infrastructure projects have an important role to play in the province’s industrial development as investors have been attentive to Bac Giang.

The investors receiving permission this time are brimming with experience, capacity and resources for industrial park infrastructure construction and development, he added.

For his part, Bui Dinh Chien, General Director of Capella, pledged that the firms will closely work with the provincial management board of industrial parks, departments, sectors and authorities of Yen Dung and Lang Giang in building plans of the projects, particularly in compensation, construction speed and investment attraction.

Last year, the Prime Minister issued a dispatch on a project adjusting and supplementing the master plan on the development of industrial parks in Bac Giang province, including Yen Lu and Tan Hung.

The provincial People’s Committee was assigned to manage, use and change the purpose of land use, as well as choose investors in line with the law, ensuring openness and transparency.

Projects in industrial parks must be in line with approved land use planning and legal regulations related to bidding, land, housing, investment and relevant laws.

It must also direct the provincial management board of industrial parks and authorities to oversee the abidance of legal regulations regarding the construction on water drainage and wastewater treatment systems, including the Law on Environment Protection, the Law on Irrigation, the Law on Dykes and the Law on Water Resources.

At the same time, the province will be more selective in attracting investment projects, with a focus on high-tech, large-scale projects and those that would churn out competitive products, join the global value chain and significantly contribute to the state budget and social welfare, Duong said.

From now to 2025, Bac Giang aims to lure investments to industrial development intensively, towards improving productivity, quality and efficiency, and reducing the use of natural resources and energy.

The locality expects to raise investment projects’ contributions to its gross regional domestic product (GRDP) to 60-62 percent by 2025, and 66-68 percent by 2030.

The total investment disbursement is set at 246 trillion VND during the 2021-2025 period, and 613 trillion VND for 2026-2030.

Meanwhile, budget collection from projects is to increase 17 percent each year to reach 5.75 trillion VND by 2025, accounting for 38.3 percent of the province’s total budget collection. The numbers are expected to hit 12.6 trillion VND by 2030, and 52.7 percent.

For projects outside industrial parks and clusters, Bac Giang will only consider big ones that will have great impact on local socio-economic development, and those in disadvantaged areas in Son Dong, Luc Ngan and Yen The districts.

The province will prioritise projects that are able to manufacture products competitive in the global value chain like electronic and electric components and equipment, and machinery./.