On the morning of December 19, Kinh Bac City Development Holding Corporation officially broke ground on the Phu Binh Industrial Park project, a massive 675-hectare area in Thai Nguyen Province. This event is a highlight of a coordinated nationwide series involving the commencement and inauguration of 245 projects across 34 provinces and cities to celebrate the 14th National Congress of the Communist Party of Vietnam.
On the morning of December 19, Kinh Bac City Development Holding Corporation officially broke ground on the Phu Binh Industrial Park project, a massive 675-hectare area in Thai Nguyen Province. This event is a highlight of a coordinated nationwide series involving the commencement and inauguration of 245 projects across 34 provinces and cities to celebrate the 14th National Congress of the Communist Party of Vietnam.
The groundbreaking ceremony was attended by Mr. Nguyen Hong Dien, Member of the Party Central Committee and Minister of Industry and Trade; Mr. Vuong Quoc Tuan, Alternate Member of the Party Central Committee and Chairman of the Thai Nguyen Provincial People's Committee; and Mr. Pham Duc Long, Deputy Minister of Science and Technology, along with other leaders of Thai Nguyen People’s Committee. Representing the investor was Ms. Nguyen Thi Thu Huong, CEO of Kinh Bac City Development Holding Corporation. With an area of 675ha and a total investment of VND 11,492 billion, invested by Kinh Bac City Development Holding Corporation, Phu Binh Industrial Park is strategically located in the southeastern part of the province, offering direct connectivity to Hanoi’s Ring Road 5 and National Highway 37. The project is envisioned to become a multi-sector industrial hub focusing on high technology, electronics, and clean industries.
The groundbreaking ceremony was held in a solemn atmosphere
Speaking at the ceremony, Ms. Nguyen Thi Thu Huong – CEO of Kinh Bac City Development Holding Corporation stated that KBC’s ambition is to develop Phu Binh Industrial Park into a model industrial zone and a strategic destination for high-quality Foreign Direct Investment (FDI). KBC aims to attract global corporations in sectors such as electronics, information technology, automotive manufacturing, precision engineering, new materials, and renewable energy. These industries align with Thai Nguyen’s modern industrial orientation, emphasizing advanced technology, environmental friendliness, and high added value.
Ms. Nguyen Thi Thu Huong – CEO of Kinh Bac City Development Holding Corporation, delivering her speech at the ceremony
Beyond its logistical advantages and proximity to Hanoi and Bac Ninh, Phu Binh Industrial Park leverages Thai Nguyen’s abundant and highly skilled workforce. The province is a regional education hub with numerous universities and vocational colleges specializing in technical and high-tech training - a crucial factor for attracting high-tech industries like semiconductors and electronics. Currently, the provincial labor force stands at approximately 610,000 to 620,000 people.
Phu Binh Industrial Park is also planned to serve as a production and logistics center for the Northern Midlands and Mountains region. The project prioritizes high-tech manufacturing and energy production, contributing to the industrialization and modernization strategy of both Thai Nguyen province and the wider region.
Phu Binh Industrial Park is currently a new investment destination in Thai Nguyen Province, attracting strong interest from FDI enterprises thanks to its attractive investment incentives. Investors are entitled to corporate income tax incentives under the Government’s investment promotion policies for areas with difficult socio-economic conditions, exemptions and reductions in land rental fees in accordance with regulations, as well as streamlined administrative procedures with fast and efficient one-stop support. In particular, the industrial park benefits from strong attention and maximum support from the province’s highest-level leadership, preferential policies for industrial production development and industrial park development, and a strong focus on investment promotion and attraction. All of these advantages create favorable conditions for investors to seize opportunities and realize sustainable development strategies in Thai Nguyen.
Mr. Vuong Quoc Tuan – Alternate Member of the Party Central Committee and Chairman of the Thai Nguyen Provincial People's Committee, speaking at the ceremony
At the ceremony, Chairman of the Thai Nguyen Provincial People's Committee, Mr. Vuong Quoc Tuan, emphasized that the province is currently planning 19 industrial parks and intends to add 14 more, bringing the total industrial land area to over 16,000 hectares. With the message "Partnering for Growth," the province pledged maximum support through a "24-hour Green Lane" mechanism.
Thai Nguyen province’s leaders reaffirmed their commitment to creating a transparent and favorable business environment. This close governmental support, combined with KBC’s execution capacity, is expected to make Phu Binh Industrial Park a cornerstone for high-quality FDI in the coming time.
The establishment of Phu Binh Industrial Park significantly expands Kinh Bac City Development Holding Corporation’s industrial land bank, facilitating domestic and international investment. The project is anticipated to create tens of thousands of local jobs, promoting a positive shift in labor and economic structures, and driving socio-economic development for Thai Nguyen Province and the surrounding region.