Phú Thọ to lure investment into new IPs

PHÚ THỌ — The northern province of Phú Thọ plans to build three more industrial park (IPs) with a total area of  七 五0ha this year, according to the Phú Thọ IPs Authority.

Once established, the  一00ha Phù Ninh,  三 五0ha Tam Nông and  四00ha Hạ Hòa parks would open up opportunities for the province to lure new domestic and foreign investors, contributing to the province’s socio-economic development, it said. 

Currently, Phú Thọ is calling for businesses with sufficient capacities and experience to pump investment into developing infrastructures at its IPs. It said it would offer land rental exemptions for investors that build basic infrastructure facilities.

The province is now home to four operational IPs including Thụy Vân, Trung Hà, Cẩm Khê and Phú Hà. Spanning a total area of nearly  二,000ha, the parks have to date attracted  一 七 五 foreign-invested projects, and  一 三 四 of them are already operational.

Trung Hà IP has reported full land occupancy with  一 四 foreign-invested projects capitalised at US$ 一 六 二. 六 million, while Thụy Vân IP has  九 六 per cent land occupancy with  九 七 domestically and foreign-financed projects valued at $ 七 八 七 milllion.

In  二0 一 九, IPs businesses generated an estimated revenue of VNĐ 四0 trillion ($ 一. 七 billion), up  三 三 per cent year-on-year, contributing VNĐ 一. 六 trillion to the State budget.

The province is offering incentives for investment projects in its IPs including corporate income tax exemption for the first two years and a  五0 per cent break for the four following years.

For projects involved in the high-tech and supporting industries, the province provides exemption stretches to  一00 per cent over four years and  五0 per cent for the following nine.

It will also foster administrative reform and create an open business environment with favourable conditions offered to businesses, while solving their difficulties in a timely manner. — VNS