VSIP INDUSTRIAL PARK

Province

Nghe An

Occupancy Rate

95%

Area

750 hectares

Lease Price

95 -100 USD/m2

VSIP Nghe An Industrial Park, also known as VSIP Nghe An 1, is one of the strategic industrial parks, located near the center of Vinh city, Nghe An province. This is the 7th project in the chain of industrial parks bearing the VSIP brand in Vietnam. Planned and developed according to a modern model, integrating synchronous infrastructure and international standard services, VSIP Nghe An has become an attractive destination for many domestic and international investors.

VSIP Nghe An Industrial Park

Details

Industrial park name

VSIP Nghe An Industrial Park

Location

Hung Nguyen, Vinh City, Nghe An

Total area

750 hectares

Land rental price

95 -100 USD/m2

Construction density

60%

Occupancy rate

95%

Infrastructure information

Electrical system

2x63MVA

Water system

Meet all customer needs

Sewage system

6,000m3/day and night

Transportation system

Main road width 27, 31, 38m (2 lanes)

1. Project overview and legal information

VSIP Nghe An Industrial Park was established under Decision No. 10/2015/QD-TTg dated April 3, 2015 of the Prime Minister, with a scale of 750 hectares, belonging to the VSIP Nghe An industrial, urban and service park project – a part of the master plan of the Southeast Nghe An Economic Zone.

The project officially started construction in September 2015, with VSIP Nghe An Company Limited – a member unit of VSIP Group – as the investor. The investment certificate was issued by the Southeast Economic Zone Management Board.

Overview of VSIP Nghe An Industrial Park:

  • Project name: VSIP Nghe An Industrial Park
  • Chinese name: VSIP 义安工业区
  • Total area: 750 ha
  • Current occupancy rate: 95%
  • Land use term: Until 2065
  • Geographical location: Located in Vinh city and Hung Nguyen district, Nghe An province
  • Investor: VSIP Nghe An Co., Ltd.
  • Total investment capital: VND 23,497.8 billion

Project overview and legal information VSIP Nghe An Industrial Park

2. Costs and incentives for renting land in VSIP industrial park

With the advantage of being an industrial park invested by a reputable investor, it is a key project of Nghe An province and the central region. VSIP Nghe An Industrial Park has an attractive land lease policy and other tax incentives to attract investment.

  • Land rental price: 85 USD/m2
  • Electricity selling price: According to state regulations and paid directly to the electricity company
    • Normal hours: 0.08 USD/kWh
    • Off-peak hours: 0.05 USD/kWh
    • Peak hours: 0.13 USD/kWh
  • Clean water supply price: Updating
  • Wastewater treatment fee: Updating

* Labor costs:

  • Regional minimum wage (Zone III): 3,640,000 VND/month ($156)
  • Actual salary: about 5,500,000 VND/month

* In addition, tax incentives at VSIP Nghe An 1 industrial park:

  • Corporate income tax: Enterprises enjoy very large corporate income tax incentives, 10% incentive for the first 15 years, tax exemption for 4 years and tax reduction for the next 09 years.
  • Import tax: Import tax exemption for the first 5 years, giving businesses the opportunity to strongly develop their services and products.

Costs and incentives for renting land in VSIP industrial park

3. Traffic connection of VSIP industrial park

VSIP Nghe An Industrial Park is located in the West of Vinh City, possessing a strategic location with flexible connectivity to major traffic routes such as National Highway 1A, National Highway 46A, 46B and Vinh – Cua Lo Boulevard. Thanks to the advantage of synchronous traffic infrastructure, the industrial park can quickly access the seaport system, road ports and international airports.

Connection distance from VSIP Nghe An:

  • Vinh City Center: 4 km (~10 minutes)
  • Hanoi Capital: 270 km (~4 hours travel)
  • Vinh Airport: 4 km (~10 minutes)
  • Vinh Railway Station: 6 km (~15 minutes)
  • Vissai Seaport: 4 km (~10 minutes)
  • Cua Lo Seaport: 15 km (~20 minutes)

In addition to the advantages of transportation, the industrial park is also surrounded by a synchronous system of utilities in health, education and finance – banking, contributing to creating favorable conditions for production – business activities of enterprises in the area.

Traffic connection of VSIP industrial park

4. Infrastructure system

VSIP Nghe An Industrial Park is invested and developed by one of the leading units in Vietnam in the field of industrial park infrastructure. With a synchronous and modern development orientation, the industrial park owns a complete infrastructure system, fully meeting the needs of businesses.

Main infrastructure items include:

  • Electrical system:
    110/35/22kV transformer station is in operation, directly connected to the national grid through Hung Dong transformer station, ensuring stable and continuous power supply for production activities.
  • Water supply system:
    Clean water is provided through cooperation between the investor and local water supply units, ensuring to meet the 24/7 water demand for all factories and enterprises in the park.
  • Wastewater treatment system:
    The wastewater treatment plant is currently operating with a phase 1 capacity of 6,000 m³/day and night. When completed, the total capacity of the system will reach 28,000 m³/day and night, ensuring environmental standards and serving the entire industrial park.
  • Internal traffic system:
    The traffic infrastructure is systematically planned in a checkerboard pattern, including the main axis and branch lines to help transport goods in and out conveniently and optimally.
  • Postal and telecommunications system:
    Near major post offices such as Vinh City Post Office, Hung Nguyen Post Office and a modern telecommunications network, providing a full range of services from mail, communications to high-speed Internet and international telecommunications services.
  • Port and logistics:
    Convenient freight transport thanks to its location near Vissai port (4 km) and Cua Lo port (15 km), supporting fast import and export and transportation.
  • Fire prevention and fighting:
    The fire protection system is installed in accordance with the State’s prescribed standards, ensuring absolute safety for the entire production and warehouse area.
  • Internal communication system: Equipped with a modern communication switchboard, ensuring smooth connection within the industrial park and with external partners.

VSIP Nghe An Industrial Park Infrastructure System

5. Orientation of VSIP industrial park

VSIP Nghe An Industrial Park is considered one of the province’s key industrial projects, making an important contribution to promoting economic development and shifting production structure towards modernity. The presence of VSIP not only changes the face of local industry but also creates a strong push in attracting investment.

The industrial park is currently attracting many key industries such as: textiles, food & beverage processing (F&B), electricity – electronics, and especially high-tech fields, in line with the orientation of sustainable and environmentally friendly development.

5.1. Attractive investment industries

The attractive investment sectors in VSIP Nghe An Industrial Park are very diverse due to the special tax incentives, especially corporate income tax, land use tax, import and export tax. The specific industries attracted are:

  • Mechanical industry, mechanical processing
  • Production of spare parts and accessories for vehicles, electronic components
  • Textile and garment light industry, garment processing
  • Cargo transportation, warehousing business
  • Other industries

Orientation of VSIP industrial park

5.2. Why choose VSIP Nghe An 1 Industrial Park?

Not only outstanding with a modern and complete technical infrastructure system, VSIP Nghe An Industrial Park is also oriented to develop according to the model of an ecological industrial park, friendly to the environment, contributing to creating a sustainable and civilized image in the eyes of investors.

The project possesses many outstanding competitive advantages, becoming an attractive destination for domestic and foreign enterprises:

  • Strategic location: Located in the central area of ​​the North Central region, the industrial park is easily connected to key traffic routes including roads, railways, waterways and airways – creating favorable conditions for logistics and trade.
  • Synchronous and high-quality infrastructure: Invested by one of the leading industrial park infrastructure developers in Vietnam, VSIP Nghe An possesses a modern and synchronous technical system, ensuring to meet all production needs of enterprises.
  • Rich human resources: Nghe An has a large workforce of more than 2 million people aged 15 and over (as of 2020), of which the proportion of trained workers is increasing – a key factor that helps investors easily recruit and train staff.
  • Investment incentives: Enterprises operating in industrial parks enjoy many tax incentives and legal support. Investment procedures are implemented quickly, creating favorable conditions for project implementation.
  • Open cooperation environment: Located in the commercial center of the Central region, the industrial park opens up many opportunities for connection, cooperation and development of partner networks between enterprises in the park as well as on a wider scale.

5.3 AVA Assessment

  • VSIP Nghe An is a well-planned and developed industrial park with a modern and synchronous infrastructure system, ready to meet all production and operational needs of businesses operating here.
  • Nghe An province has an abundant labor force, with the working-age population accounting for the majority. This is a great advantage that helps businesses easily recruit and maintain a stable human resource, especially in labor-intensive industries.
  • Attractive investment incentives: Enterprises investing in industrial parks enjoy special preferential corporate income tax policies – 100% exemption for the first 4 years and 50% reduction for the next 9 years, contributing to reducing operating costs and increasing competitiveness.
  • A limitation to note: Although highly appreciated for its infrastructure and human resources, VSIP Nghe An industrial park is relatively far from major traffic hubs such as seaports and airports. This can have some impact on supply chain efficiency, especially for businesses that rely heavily on international logistics.

6. AVA leading consulting unit

  • Deep understanding of the market – Grasping the needs: With extensive experience in the field of industrial real estate, AVA clearly understands the characteristics of the market as well as the expectations of investors, thereby providing appropriate and practical solutions.
  • Synchronized services – Closed process: AVA provides a comprehensive service chain, supporting customers throughout the stages of surveying, consulting, choosing locations, negotiating to completing legal procedures and investment, helping to optimize time and resources for businesses.
  • Accompanying investors – Prioritizing customer benefits: AVA always puts the goal of effective service first. Each proposed plan is personalized according to the actual needs and financial capacity of customers, ensuring optimal investment efficiency.