1. Project overview and legal information
With a total investment of approximately VND 3,255 billion, the Lam Son – Sao Vang Industrial Park is considered one of the key economic development drivers in the western region of Thanh Hoa province. This industrial park is located on three of the six key economic corridors and is identified as one of the “Four Mountains” playing a crucial role in economic development, urbanization, and strengthening linkages between the lowlands and mountainous regions. The project is also being developed by the Government as an urban area within the chain of urban areas along the Ho Chi Minh Highway.
Below is an overview of the Lam Son – Sao Vang Industrial Park as introduced by Redsunland:
- Name: Lam Son – Sao Vang Industrial Park
- Investor: Joint venture of Cuong Thinh Thi Construction Investment Group JSC and Central Vietnam Construction Group JSC
- Location: Xuan Thang Commune (now Sao Vang town), Xuan Phu Commune (Tho Xuan District) and Tho Son Commune (Trieu Son District), Thanh Hoa Province
- Scale: 537.3 hectares
- Operating period: 50 years (2017 – 2067)
- Occupancy rate: approximately 20%
- Investment sectors: priority given to high-tech projects such as aerospace, electronics, telecommunications, medical equipment, pharmaceuticals, lighting, precision mechanics, defense industry…
Labor resources:
The Tho Xuan and Trieu Son areas have a population of approximately 460,000 people, providing an abundant labor force. The current minimum wage in Region IV is approximately VND 3,070,000 per month. Furthermore, Thanh Hoa province has a well-developed education system with 2 universities, 2 university branches, 10 colleges, and 12 vocational schools, effectively meeting the human resource needs of businesses.
Recently, the industrial park has attracted the attention of many international investors from South Korea, the United States, Japan, Singapore, and other countries, who are exploring opportunities for cooperation and investment.
Overall perspective of Lam Son – Sao Vang Industrial Park
2. Geographical location of Lam Son – Sao Vang Industrial Park
Thanks to its strategically important location in Thanh Hoa province, the Lam Son – Sao Vang Industrial Park is adjacent to Tho Xuan Airport and the Ho Chi Minh Highway. From here, it is easy to connect directly to Hanoi – the center of the Red River Delta key economic region – and Vinh City – the center of the North Central region, with a travel time by road of less than 2 hours.
Regional connections:
- North: bordering National Highway 47 (extending to the Ho Chi Minh Highway)
- South: bordering Road No. 4 (southern ring road of the Industrial Park)
- East: bordering Road No. 6 (Sao Vang – Nghi Son route)
- West: bordering Road No. 17 (Dong Truong Lake area)
Based on topographical conditions and development orientation, Tho Xuan district is planned according to the “two belts – three development zones” model. In particular, the Lam Son – Sao Vang Industrial Park, located within the first development belt of the future urban area, plays a central driving role.
This area has also received significant investment in transportation infrastructure with many important projects such as:
- The road from Tho Xuan town to the Lam Son – Sao Vang urban area with a total investment of 16,878 billion VND
- The road from the city… Thanh Hoa to Tho Xuan Airport: 3,567 billion VND
- Connecting road from Tho Xuan Airport to Nghi Son Economic Zone (phased): 4,335 billion VND
- Road connecting Lam Kinh Historical Site with Ho Chi Minh Highway: 30 billion VND
- Road from National Highway 47 to Ho Chi Minh Highway: 914 billion VND
- The Ho Chi Minh Highway passes through the area, creating a nationwide transportation link.
With an increasingly complete transportation infrastructure system, the Lam Son – Sao Vang area has many favorable conditions to develop its potential, attract investment, and achieve strong breakthroughs in the future.
Distance
- Distance from Thanh Hoa City: approximately 40 km
- Distance from the center of Hanoi: 170 km
- Distance from Sao Vang Airport: approximately 2 km
- Distance from Noi Bai International Airport: approximately 200 km
3. Infrastructure system
As of 2023, the Lam Son – Sao Vang Industrial Park has essentially completed land clearance for approximately 98.81/121 hectares in Phase 1. Simultaneously, the industrial park is currently processing the initial land lease procedures for this phase, covering an area of approximately 36.7 hectares.
Currently, the industrial park’s infrastructure is being gradually improved. Notably, internal transportation routes have been invested in using state budget funds totaling over 400 billion VND, contributing to enhanced connectivity and attracting investment.
- The technical infrastructure at Lam Son – Sao Vang Industrial Park is planned comprehensively, specifically as follows:
- Internal transportation: The road system includes a main axis 39m wide and branch roads 23m wide, ensuring convenient traffic flow throughout the park.
- Electricity supply: The industrial park’s electricity is supplied from newly constructed 110kV substations within the planned area, in accordance with the adjusted general urban plan of Lam Son – Sao Vang.
- Clean water supply: Water is supplied from the water treatment plant according to the general plan, with a total capacity of 54,000 m³/day. The project is implemented in two phases: phase 1 reaching 30,000 m³/day and phase 2 adding an additional 24,000 m³/day.
- Wastewater treatment: The wastewater treatment system is invested and built in two phases with two separate plants. Phase 1 involves the construction of treatment plant No. 3 with an initial capacity of 10,000 m³/day, later increased to 15,000 m³/day. Phase 2 continues with the construction of treatment plant No. 4 with an expected capacity of 5,000 m³/day. In addition, the system includes a pumping station with a capacity of approximately 300 m³/day for drainage purposes.
- Telecommunications: Communication infrastructure is provided through a satellite exchange with approximately 90,000 subscribers, fully meeting the connectivity needs of businesses in the industrial park.
4. Investment incentive policies of Lam Son – Sao Vang Industrial Park
Zoning plan at a scale of 1/2000 for the Lam Son – Sao Vang Industrial Zone.
Businesses investing in the Lam Son – Sao Vang Industrial Park will enjoy many attractive preferential policies, specifically:
Corporate Income Tax:
Exempt from tax for the first two years from the date of taxable income, and a 50% reduction in tax payable for the following four years.
Land and Water Lease Fees:
Investors are exempt from land and water lease fees during the basic construction phase (maximum of 3 years from the date of the lease decision). After the project becomes operational, the exemption period can be extended from 7 to 15 years, depending on the investment sector and industry.
Import and Export Taxes:
Depending on the type of production and business, enterprises may be eligible for incentives such as:
- Exemption from import tax on machinery and equipment forming fixed assets, specialized transport vehicles in the production line, and vehicles for transporting workers.
- Import duties will be waived for 5 years from the project’s operational start date for raw materials, supplies, components, and semi-finished products that are not produced domestically or do not meet quality requirements.
