Tay Ninh calls for investment into new IZ

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Báo Tuổi Trẻ English - 30 month(s) ago 10 readings

Tay Ninh calls for investment into new IZ

Tay Ninh Province government and the Vietnam Chamber of Commerce and Industry (VCCI) have jointly launched a seminar to call for more investment in Bourbon An Hoa Industrial Zone (IZ).

bourbon Tran Luu Quang, Deputy Chairman of Tay Ninh Province People's Committee, talks with the media at the event. Photo: Thoai Tran

The Trang Bang District-based IZ are located some 40 kilometers, 44 kilometers, and 67 kilometers away from the National Road 1A, the Ho Chi Minh City-based Tan Son Nhat Airport and Cat Lai Port.

Some 760 hectares out of the 1,020-hecatre IZ will be set aside for the industrial park, while 184 hectares will be used as logistics zone and the rest for residential area.

The 1,020-hecatre IZ was established by Bourbon An Hoa Co, a joint stock firms set up by Thanh Thanh Cong Group and Bourbon Tay Ninh Joint Stock Co, in 2008.

Its transport infrastructure has already been completed with all internal roads paved with asphalt and street lighting systems installed.

The IZ’s water supply system and wastewater treatment system have a daily capacity of 37,000 cubic meters and 30,000 cubic meters, of which the existing phase-1 capacity are 3,500 cubic meters and 2,500 cubic meters respectively.

Its power supply system includes that supplied from the national grid through Trang Bang 110/22KV station and a future internal power station with a design capacity of 126 MVA.

Moreover, Bourbon An Hoa IZ can stabilize the power supply with the support from Tay Ninh and Long An provinces.

Conventional businesses operating in Bourbon An Hoa IZ will enjoy a preferential enterprise income tax rates of 20 percent within 10 years imposed at the time they has taxable income. The rate will be at 0 percent in the first 2 years, 10 percent in the next 4 years, and 20 percent starting the 7th year.

For those operating in the high-tech fields, the enterprise income tax rates will be at 10 percent in 15 years since business has taxable income. The rate will be 0 percent in the first 4 years, 5 percent in the next 9 years, and 10 percent starting the 14th year.

The preferential tax policies are more attractive compared with the neighboring provinces of Tay Ninh, said Tran Huu hau, director of Investment and Tourism Promotion Center (ITPC) of Tay Ninh .

Bourbon An Hoa Co has also pledged to let investors access to full, accurate and timely information related to investment. The whole process of providing information to investors will be free.

In addition, the company wills also helps enterprises recruit unskilled workers and senior workers. In the future, it will build a vocational school to train workers for the IZ.

The IZ with completed infrastructures will have its annual rental prices for industrial land charged at $35 per square meter until 2058, and $2.7 a month for completely-built factories and supporting facilities.

Currently, Bourbon An Hoa IZ has attracted many investment projects of foreign enterprises from Singapore, India, Taiwan, and Thailand.

A number of businesses operating in the IZ include Kuo Yuen Tay Ninh, MEBIPHA, Venky's Vietnam, Vietnam Kruger, and KTZ Vietnam.

Its occupancy rate is at around 10 percent.

In the future, the IZ will be connected with Grater Mekong Sub-region (GMS) Railway system extending from Dawei (Myanmar) to Bangkok (Thailand), Phnom Penh (Cambodia), Tay Ninh and Vung Tau City.

The GMS railway project was proposed for construction by the Asian Development Bank (ADB) and scheduled for completion in 2020, promoting trade and transport between the related countries.

Tay Ninh ranked 25th out of 63 provinces/cities in a recent report on the competitiveness of Vietnam's provinces and cities in 2011 composed by VCCI’s Competitiveness Initiative project.

It ranked 9th out of 63 provinces/cities in attracting capital of foreign direct investment (FDI).

Currently, there are investors from 19 countries and territories investing in Tay Ninh with 207 projects worth some $1.44 billion.

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