Binh Thuan to Establish Nearly 500-Hectare Industrial Park

Binh Thuan province in Vietnam is set to develop a new industrial park spanning nearly 500 hectares. The project, known as Son My 2 Industrial Park Phase 1, will be located in Son My commune, Ham Tan district, and is being led by a consortium of companies with Becamex IDC as the primary investor.

Government Approval for Son My 2 Industrial Park

The Prime Minister has recently approved the investment and construction plan for the infrastructure of Son My 2 Industrial Park Phase 1. This project will occupy more than 468 hectares, including the necessary technical infrastructure. The operation period of the project is 50 years, with a maximum implementation time of 48 months from the date of land transfer.

Key Investors and Partnerships

The project is being developed by the Dong Sai Gon Industrial Investment and Development Corporation, a subsidiary of Becamex IDC, which holds a 30% stake in the company. In late 2020, Becamex IDC established the Dong Sai Gon Industrial Investment and Development Joint Stock Company, with a charter capital of 100 billion VND, to invest in projects in Binh Thuan province. Aside from Becamex IDC, the company also received capital contributions from the Becamex – Binh Phuoc Infrastructure Development Joint Stock Company (20%) and Mr. Truong Tan Buu (50%).

Industrial Development in Binh Thuan

Binh Thuan was not previously known for its industrial parks. However, industrial development has now become one of the province’s three key pillars of economic growth by 2025. Son My 2 Industrial Park is one of the nine industrial parks approved for development in Binh Thuan. Among them, six projects have already completed the necessary infrastructure, covering a total area of nearly 1,100 hectares.

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Author: Ngoc Diem