Phu My 3 Specialized Industrial Park was established by Decision No. 2565/QD-UBND dated October 22, 2009, of the People’s Committee of Ba Ria – Vung Tau province. With a total investment of over 6,000 billion VND, the industrial park covers an area of ​​1,046 hectares and is being developed in three phases, with 516.45 hectares of industrial land available for lease. Notably, this is the first and only specialized industrial park in Vietnam officially recognized by the Government in December 2014.

Below is an overview of Phu My 3 Intensive Industrial Park:

• Name: Phu My 3 Intensive Industrial Park
• Location: Phuoc Hoa Ward, Phu My Town, Ba Ria – Vung Tau Province
• Scale: 1,046 hectares (of which 516.45 hectares are industrial land for lease)
• Occupancy rate: Approximately 50%
• Operating period: 70 years (2007 – 2077)

Investment attraction sectors:
The industrial park aims to attract diverse industries, especially those that leverage the advantages of the Cai Mep deep-water port and abundant resources such as electricity, natural gas, and water. Typical sectors include:

• Heavy industry: energy, chemicals, metallurgy, mechanical engineering, casting and plating, zinc production, paper and packaging, waste treatment, refining and petrochemicals, fertilizer production, building materials, maritime industry, mineral processing…
• Supporting industries: machinery manufacturing, electrical and electronic equipment, telecommunications, automotive component assembly, textiles, leather and footwear, mechanical engineering, high technology, agricultural and aquatic product processing, pharmaceuticals…
• Logistics services: industrial and port logistics services supporting production and import/export activities.

The above content can be rephrased as follows:

• Current infrastructure usage fee: approximately US$50/m² for the entire land lease period until December 21, 2077.
• Management fee: US$0.75/m²/year.
• For logistics businesses: a fee of US$1/m²/year applies; this fee may be adjusted annually, usually at the beginning of January.
• Wastewater treatment fee: US$0.35/m³, also adjusted annually.
• Electricity price: calculated according to the price framework regulated by the State, plus maintenance costs.
• Clean water price: applied according to the unit price issued by the State, plus system maintenance fees.

Corporate Income Tax (CIT) Incentives:
Businesses operating in Phu My 3 Intensive Industrial Park are subject to a preferential tax rate of 17% for the first 10 years from the date of revenue generation, as stipulated in Government Decrees 118/2015/ND-CP and 218/2013/ND-CP.

In addition, businesses are exempt from tax for the first two years of taxable income and receive a 50% reduction in tax payable for the following four years.

Import Tax Incentives:

• Tax exemption for machinery and equipment serving the oil and gas industry.
• Tax exemption for imported goods intended to form fixed assets of the project.
• Tax exemption for machinery and equipment not yet produced domestically.

Land Lease Policy:

• Land lease term in the industrial park extends up to 70 years (2007–2077), longer than the average 50 years in many other industrial parks.
• Land rent exemption for 20 years from the completion and operation of the industrial park (from 2018), the specific period may vary depending on the location of each land plot.

One-stop support service:
Phu My 3 Specialized Industrial Park acts as an intermediary connecting investors and local management agencies, providing comprehensive support for legal procedures from the investment and construction permit application stage to the project’s operation. As a result, businesses can implement projects quickly and focus entirely on their core production and business operations.