31 Aug Level 1 Samsung’s vendors further invest in the expanded Yen Phong Industrial Park
In the morning of August 30, 2016, Viglacera Land held the signing ceremony of land lease contract for Yen Phong IP expansion phase with a Korean electronics company covering an area of 10,000 m2. This is a level 1 vendor of Samsung, producing flexible printed circuits for smartphone.
Yen Phong IP expansion phase started in March 2016. So far, the infrastructure has been basically completed, including 20 ha of cleared land, a 2-km long road interconnected to phase 1’s system, and a sufficient power and water supply system. These are available for companies to build factories. Currently, 4 investors have signed the contract and are preparing for the factory construction. Thanks to its prime location, many investors are carrying out due diligence for the expanded Yen Phong IP land lease.
Photo of the road interconnected to phase 1 and cleared land of the expanded area.
Yen Phong IP’s expanded construction has a total area of 314 ha. It is expected to attract about USD 2.6 billion of investment in diversified sectors: Production and processing of agricultural products, food, light industry, high-end consumer good production, electronics, mechanical industry, etc.
The expanded area connected to the Yen Phong IP phase 1 construction has modern and synchronous infrastructure: 7 x 63 MVA, a clean water station with the capacity of 36 thousand m3/ day, a wastewater treatment plant with the capacity of 28 thousand m3/ day, etc. In addition, businesses in the expanded area will also enjoy sufficient services of Yen Phong IP phase 1: Banking, post office, customs, warehousing, security, hospital, gas station, worker housing, vocational college, and others. It is expected that Yen Phong IP’ expanded construction will be fully occupied and completed in 2024.
In 2005, Viglacera Corporation – JSC invested in Yen Phong IP (Yen Phong District, Bac Ninh Province), with a total area of 658.71 ha, divided into 2 phases.
Phase I started in 2005 and after more than 10 years of operation, this IP has been a choice of many Korean big electronics players such as Samsung, Orion, Flexcom, Dongsin, Mobase, Dawo Vina, Hansol, attracting up to USD 8 billion of investment for Bac Ninh province.
At the present, more than 90% of Yen Phong IP area has been occupied, bringing this IP to be among IPs with the highest land use efficiency and investment in the country. Its existing land area is 246 ha, on average, each ha of Yen Phong IP has attracted USD 0.31 billion of investment, contributing largely to the USD 28 billion export turnover of Bac Ninh province in 2015.