Under open investment policies which create favourable conditions for investors of Thai Nguyen province and the legal support that Yen Binh Investment and Development JSC offers, Yen Binh Complex with synchronized infrastructure and utility services has been a fascinating destination for domestic and foreign investors.
Yen Binh Complex – Launching Pad for Investor Success
With an area of 8,009 hectares, Yen Binh Complex owns several favorable conditions for enterprises to find business opportunities including its prime location that not every industrial park can have. Yen Binh is under Pho Yen and Phu Binh district, Thai Nguyen province. As a focal point within the radius of 30 kilometers of five big cities including Hanoi, Thai Nguyen, Bac Ninh, Bac Giang and Vinh Yen, Yen Binh Complex has a huge advantage in mobilizing resources and connecting to urban areas and markets in the region by land, air, rail and waterways. The completion of Highway 3, Highway 37 and Hanoi – Thai Nguyen Highway will open up good prospects for commodity exchanges not only for Thai Nguyen province but also for the region. Significantly, Thai Nguyen owns abundant mineral resources and land famous for tea, which creates the unique advantage of attracting investment of the industrial zone.
Until now, technical infrastructure of Yen Binh Complex is being invested in by Yen Binh Investment and Development JSC and basically gradually improving. Traffic system includes Highway 3 playing the vital role as a major road line, transport system within the Complex connecting Highway3 and Hanoi – Thai Nguyen Highway, internal roads in the Complex with two to four lanes, 24 to 28 meters in width. Yen Binh Complex is currently using national power grid through the 22kv medium voltage grid from 110/22kv station. Electricity prices are calculated according to the provisions of Thai Nguyen Electric Power Company. Water supply system and sewage treatment system are being properly invested to serve the needs of investors. Communications systems, banking and financial systems ensure to best serve the needs of businesses and investors. Thai Nguyen is the third biggest educaticentertre nationwide, so high-quality workforce is a significant advantage for Binh Yen Complex investors.
Also, in Yen Binh Complex there are also utility services supporting investors such as the customs office in the industrial park, Inland Clearance Depot (ICD), standard warehouses and factories, houses for specialists and workers, services supplying fuel oil, gas, industrial meals, banking system, vocational training centres, schools, hospitals, etc. to help make manufacturing operation of investors fast and time and cost saving.
In addition to its prime location, infrastructure meeting all conditions of transport connections, services and utilities, Yen Binh complex is also attractive to investors for its abundant human resources and low-cost labor which can meet the needs of employers and investors. However, it is still only the necessary condition for Yen Binh to become the “promised land” as well as the attractive destination of businesses. The sufficient condition is open mechanisms and policies such as reasonable renting price offering incentives and “one-stop shop”. Especially when coming to Yen Binh Complex, investors will be supported in the registration procedures for company establishment, accounting registration procedure, customs procedures, procedures in granting investment certificates and building workshops registration.
With abundant potential and special incentives from the provincial authority as well as investors, Yen Binh Complex has attracted a lot of investment projects, especially the land lease contract with Vietnam Thai Nguyen Samsung Electronics Co., Ltd. with the total investment capital of US$2 billion and aviation inventory with the total investment capital of nearly US$15 million. This is the largest project of the Samsung Group.
Under the development orientation of Thai Nguyen province, in the future, the economic structure will shift towards increasing the share of industry and services. Accordingly, the development of the industrial park will create more jobs for local workers and comply with the directions of the province. Accompanying with the development of the province, Yen Binh Complex is ready to welcome businesses to invest in clean industries which do not pollute the environment in priority sectors such as industry and high-tech engineering , mechanical assembly and machine building, electronic, telecommunications, information technology, pharmaceutical manufacturing, cosmetics, textiles, construction materials such as glass manufacturing, ceramics processing technology, wood, paper, furniture, etc. Industries of consumer goods is invested in large-scale and able ensure conditions for industrial development associated with environmental protection.
Currently, Thai Nguyen is focusing on calling for investment in the development of specific industries serving the exploitation of the province’s strengths. At the same time, the province is developing industrial complexes and zones having importance in attracting capital investment associated with the socio-economic development of the province, serving as “leverage” in economic restructuring towards increasing the share of the industry. Following the orientation of attracting investment province, Yen Binh Complex is facing many opportunities. Being confident with the determination of experience and reputation, Yen Binh Complex will certainly make good use of this opportunity to grow and quickly become the “red address” of both domestic and foreign investors.
NK
