Approval of Investment Policy for VSIP Thai Binh Industrial Zone Infrastructure Project

Deputy Prime Minister Tran Luu Quang has recently signed Decision No. 1004/QD-TTg on August 29, 2023, approving the investment policy for the construction and operation of the infrastructure of the VSIP Thai Binh Industrial Zone (the Project).

The investor for the Project is the Vietnam Singapore Industrial Park Development Joint Stock Company.

The Project is implemented in An Tan commune, Thuy Truong commune, Thai Thuy district, Thai Binh province, with a land area of 333.4 hectares, excluding the area of the Huu Hoa river mouth dike, sea dike 8 (7.86 hectares), and the return canal route (3.41 hectares).

Deputy Prime Minister instructs the People's Committee of Thai Binh province to direct the Management Board of the economic zones and industrial zones of Thai Binh province to coordinate with relevant agencies to guide the phased investment of the Investor to ensure compliance with the land use targets for industrial zones in the national land use plan until 2025 allocated to Thai Binh province in Decision No. 326/QD-TTg dated March 9, 2023 (Decision 326/TTg) and adjustments (if any), in line with the overall planning of the Thai Binh economic zone approved by the Prime Minister and the zoning plan for the construction of industrial zones approved by the People's Committee of Thai Binh province. It is noted to comply with the legal provisions on dike corridors.

Investment capital of nearly VND 5,000 billion

The total investment capital of the Project is VND 4,932.364 billion (equivalent to USD 211.872 million), of which the Investor's contributed capital is VND 739.855 billion (equivalent to USD 31.781 million).

The Deputy Prime Minister requires the Ministry of Planning and Investment to take responsibility for the contents assigned to assess the investment policy of the project and to implement state management of industrial zones as specified in Clause 3 and Clause 4 of Article 33, point i, Clause 2 of Article 69 of the Investment Law and relevant laws.

Related ministries and sectors are responsible for assessing the contents of the investment policy approval related to their functions and tasks according to the provisions at point d, Clause 3 of Article 69 of the Investment Law and relevant laws.

The Ministry of Natural Resources and Environment shall synthesize the land use targets of the industrial zone of the Project into the additional land use plan for industrial zones in the national land use plan for the period 2021-2025 for Thai Binh province, submitted to competent authorities for approval.

At the same time, the People's Committee of Thai Binh province directs the Management Board of the economic zones and industrial zones of Thai Binh province and relevant agencies to: Review, ensure that the implementation area of the Project is suitable for the requirements of protection, promotion of cultural heritage values, and conditions as prescribed by the law on cultural heritage.

Guide, inspect, and supervise the investor to implement the approved construction plan, ensuring the location, scale, and area of the Project comply with the approved investment policy, with attention to ensuring that the project's design does not overlap with other plans, compliance with the legal provisions on the protection of road transport infrastructure, dike laws, and other relevant regulations; have a plan to meet the requirements of disaster prevention and control; the land use structure of the project and the environmental safety distance comply with national technical standards for construction planning and other relevant regulations.