Dong Thap Breaks Ground on 470-ha Industrial Park, Targeting $1.5 Billion Investment

Dong Thap province on September 17 broke ground for the Tan Phuoc 1 Industrial Park, a 470-hectare development by IDICO Tien Giang, a subsidiary of IDICO Corporation. The project is slated to commence operations in the first quarter of 2027, aiming to attract approximately $1.5 billion in total investment and create around 20,000 jobs. The groundbreaking ceremony was accompanied by an investment promotion conference, where five memorandums of understanding (MoUs) were signed, marking the initial phase of tenant engagement. Signatories included the Dong Thap Provincial Business Association, Anh Duong Building JSC, Zhongbo Construction Engineering Group (Vietnam) Co., Ltd (a member of China's Greenland Group), Idec Group ASIA PTE., LTD (a member of France's Idec Group), and Idico-Urbiz One Member Limited Company. The Tan Phuoc 1 Industrial Park will feature 362.8 hectares of leasable industrial land and 55 hectares of ready-built factories, with land use rights extending until 2074. Its strategic location is approximately 3 kilometers from the Ho Chi Minh City-Trung Luong-My Thuan-Can Tho Expressway interchange, facilitating connectivity with Ho Chi Minh City and other economic centers in the Mekong Delta region. It also offers convenient access to the Ben Luc-Long Thanh Expressway, Long Thanh International Airport, and the Cai Mep-Thi Vai port cluster. The park is further enhanced by a planned inland waterway port, providing an alternative riverine logistics option alongside its road network. This robust connectivity is identified as a key factor in attracting manufacturing and processing enterprises. Its proximity to the Mekong Delta's raw material sources makes it ideal for the food and agro-fishery processing sectors. The park can also accommodate textile companies with dyeing facilities, thereby strengthening local supply chain links. Essential infrastructure, including water supply, wastewater treatment meeting Class A standards, and a 110 kV substation, will be directly managed by the developer. The implementation of AI technologies for environmental monitoring and security surveillance is also planned to support operational oversight and alerts. Beyond industrial land, the project allocates space for residential areas for experts and workers, including a social housing complex of about 20 hectares adjacent to the park. This housing provision is crucial for attracting and retaining the workforce needed as businesses commence operations. It aligns with IDICO's vision of developing industrial ecosystems that integrate production infrastructure, operational services, and living environments, contributing to the province's strategy for high-quality, green, sustainable, and high-value-added industrial development. With over 25 years of operation, IDICO manages 14 industrial parks nationwide, totaling over 4,500 hectares and attracting more than $9 billion in investment from over 400 clients. In Dong Thap, IDICO plans to develop further projects combining industrial infrastructure, operational services, housing, and workforce connection to foster comprehensive industrial ecosystems. The project benefits from the highest corporate income tax incentives available in the region, including a four-year tax exemption followed by a 50% reduction for the subsequent nine years. Investors will also receive a full exemption from land rental fees for the entire lease term, along with support for investment procedures and business establishment. Source: VnExpress