Hai Duong Provnice Plans For Seven New Industrial Zones

The new industrial zones are namely Quoc Tuan-An Binh, Kim Thanh, Luong Dien-Ngoc Lien, Binh Giang, Thanh Ha, Hoang Dieu and Hung Dao. The province is currently home to 10 industrial zones, six of which are occupied.

Provincial authorities have simplified investment procedures, said the board, adding that local leaders pledged continued application of the one-stop mechanism at local industrial zones.

The province offered 10-year land rent exemption and a 50 percent land rent reduction for the next 10 years for investors building production facilities in local industrial zones, plus a number of other incentives, including financial support for site clearance and exemption and reduction of corporate income tax for investors.

To date, Hai Duong Industrial Zones have attracted 118 domestic and foreign-invested projects worth a combined total of US$1.84 billion.

Ninety-three are foreign-invested, worth a total of US$1.43 billion, with investment pouring in from 14 countries and territories.

The province has issued a list of projects calling for foreign direct investment by next year. It encouraged foreign firms to invest in 17 projects in footwear, processing, wooden furniture, packaging, electronics, construction materials and automobiles. In order to better facilitate investment and infrastructure the province’s industrial zones will be further improved, local authorities said.