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Proposing Pm To Approve Vinhomes Vung Ang Industrial Park Project

Proposing PM to approve Vinhomes Vung Ang Industrial Park

The Vinhomes Vung Ang Industrial Park infrastructure investment and construction project has a land use scale of 964,84 hectares, deployed in the Central Industrial Park lot CN4, CN5, Vung Ang Economic Zone, Ky Anh commune, Ha Tinh province.

Proposing Pm To Approve Vinhomes Vung Ang Industrial Park Project
The perspective of Vinhomes Vung Ang Industrial Park Project

Proposing PM to approve Vinhomes Vung Ang Industrial Park

The Ministry of Planning and Investment has just issued Official Dispatch No. 1569/BKHDT – QLKKT to the Prime Minister on the application for investment policy approval for the investment construction and business project of infrastructure in the Vinhomes Vung Ang Industrial Park.

Accordingly, on the basis of the project dossier, appraisal opinions and additional explanations of the ministries and People’s Committee of Ha Tinh province, the direction of the Deputy Prime Minister and the appraisal opinions of the Ministry of Planning and Investment. In Official Dispatch No. 5812/BC-BKHDT dated July 21, 7, the Ministry of Planning and Investment found that the project dossier is eligible to be submitted to the Prime Minister for consideration and approval of the investment policy and approval of the housing project. investment according to the provisions of Clause 2023, Article 4 of the Investment Law, Clause 33, Article 8 of Decree No. 31/31/ND-CP, Article 2021, Clause 9, Article 1 and Clause 10, Article 4 of Decree No. 74/35/ND- CP.

It is known that among the additional clarifying report contents mentioned in Official Dispatch No. 1569, notably the treatment plan for 54,5 hectares of land that has been cleared at the Construction and Investment Infrastructure business of Vinhomes Vung Ang Industrial Park Project.

Proposing Pm To Approve Vinhomes Vung Ang Industrial Park Project
Vung Ang Economic Zone, Ha Tinh province

Based on the opinions of the ministries: Finance, Natural Resources and Environment; Ha Tinh Provincial People’s Committee, Ministry of Planning and Investment found that for the 54,5 hectares of cleared land, the conditions specified in Point b, Clause 1, Article 119 of the Land Law have been met to complete the implementation procedures. auction of land use rights.

However, this land area is only a part of the land area where the Project will be implemented (in the case of land being leased by the State without going through an auction of land use rights). Therefore, conducting an auction of land use rights for a separate area of ​​54,5 hectares without reducing or separating this area from the project is not feasible and up to now, the People’s Committee of Ha Tinh province and investors do not recommend this.

Pursuant to the provisions of Point b, Clause 4, Article 69 of the Investment Law; Clause 3, Article 23, Clause 2, Article 33 and Point a, Clause 5, Article 34 of the Land Law; Clause 3, Article 6, Decree No. 31/2021/ND-CP dated March 26, 3 of the Government detailing and guiding the implementation of a number of articles of the Investment Law, Ha Tinh Provincial People’s Committee has the authority and responsibility Responsible for the accuracy in statistics, land inventory, current land use status and other contents approved, appraised and approved by the People’s Committee of Ha Tinh province.

Based on the regulations and reasons mentioned above, the land lease for the project, including the area of ​​54,5 hectares of land that has been cleared, is not through the form of land use rights auction to implement. The project is in accordance with current land laws and the reality of the project.

Regarding the reimbursement to the state budget of compensation and site clearance costs for the 54,5 ha area, the Ministry of Planning and Investment proposes to assign the Ha Tinh Provincial People’s Committee to preside and coordinate with the Ministry of Finance, Ministry of Natural Resources and Environment to comply with the provisions of law, not to lose state assets.

Previously, at the end of July 7, the Ministry of Planning and Investment issued Appraisal Report No. 2023/BC – BKHDT on the dossier of decision on investment policy for the investment construction and business project of infrastructure in the Vinhomes Vung Ang Industrial Park.

Based on the appraisal opinions of relevant ministries, branches and localities, the Ministry of Planning and Investment recommends that the Prime Minister consider approving the investment policy of the Industrial Park infrastructure construction and business project. Vinhomes Vung Ang Industrial Park with land use scale of 964,84 hectares in Central Industrial Park lots CN4, CN5 Vung Ang Economic Zone, Ky Anh town, Ha Tinh province.

A project of immense potential on a large scale

The total investment capital of the project is 13.276,491 billion VND, of which the investor’s contributed capital is 1.991,473 billion VND and mobilized capital is 11.285,017 billion VND. Project implementation progress is no more than 72 months from the date the land is handed over by the State.

The project’s operating term is 70 years from the date that the project’s investment policy is approved and the developer is approved. The infrastructure developer implementing the project is Vinhomes Industrial Zone Investment Joint Stock Company (VHIZ).

This is a project following the model of a specialized industrial park (manufacturing cars and auto parts), a new type of industrial park regulated and encouraged for development in Clause 4, Article 2, Article 31 and Article 32. Decree No. 35/2022/ND-CP and automobile and auto parts manufacturing industries and occupations are in the List of industries and occupations eligible for investment incentives specified in Decree No. 31/2021/ND-CP and are in the List of investment incentive industries and occupations specified in Decree No. 111/2015/ND-CP supporting industrial products prioritized for development specified in Decree No. XNUMX/XNUMX/ND-CP.

Proposing Pm To Approve Vinhomes Vung Ang Industrial Park Project
VinFast’s factory in Hải Phòng City

The project has a large scale of investment capital, has strict commitments and constraints on conditions, land handover progress and attracts investment projects to implement interdisciplinary clusters with the total investment capital of the projects into industry clusters at least equivalent to 2 billion USD.

A new growth motivation for the company and the group

The IP developer expects that when the project is put into operation, it will pay an average annual corporate income tax of VND 1.203 billion to the state budget; internal rate of return is 23,97% and the net present value – NPV is 15.392 billion VND; Capital recovery period is 7 years and 9 months.

VHIZ  is expected to complete legal procedures on industrial parks and planning in the third quarter of 2023; From the fourth quarter of 2023 to the first quarter of 2026, about 500 hectares of land will be cleared, constructed and the built industrial park infrastructure put into business operations; Second quarter of 2026 – fourth quarter of 2029: site clearance for the remaining area (464,84 hectares), construction of industrial park infrastructure for the remaining area of ​​the industrial park; From the fourth quarter of 2030: complete the Industrial Park infrastructure project.

Vingroup Ventures was established in December 2018. On February 27, 2020, Vingroup Ventures was renamed to Vinhomes Industrial Zone Investment, changing its main business line from supporting startups and education to industrial real estate development to create a new growth motivation for the company and the group. The company will have three operation pillars, namely residential, office, and industrial park property. “The development of industrial real estate will also create opportunities for Vietnamese manufacturers to join the auto supply chain and produce made-in-Vietnam cars.” Vinhomes said.

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