Hai Duong to build $84 million industrial park

The leader of Hai Duong Province grants the Prime Minister's investment approval for An Phat High-Tech Industrial Park No. 1. Photo by APH.

An Phat High-Tech Industrial Park No. 1 will cover 180 hectares of Quoc Tuan, An Binh and An Lam communes, Nam Sach District, northern Hai Duong Province. The project aims to invest in construction and commercial exploitation of the industrial park and attract high-tech and environmentally friendly investors.

"An Phat 1 has many advantages to attract investment such as strategic location, human resources, and prospect to become a promising industrial park of both size and scale," said an official from Hai Duong.

"I hope An Phat Holdings and Hai Duong Management Board of Industrial Zones will focus on site clearance, infrastructure development, together with attracting investment, building a high-tech industrial park, meeting the demand of high-technology industries, especially supporting industries."

Pham Van Tuan, Acting Deputy CEO of APH and General Director of An Phat 1, introduces the industrial park. Photo by APH

Pham Van Tuan, Acting Deputy CEO and General Director of An Phat High-Tech Industrial Park No. 1 JSC, said: "We will strive to develop An Phat 1 into a leading high-tech, environmentally friendly industrial park in the North, a destination attracting domestic and international investment and contribute to economic and social development, promoting industrial development in Hai Duong Province."

Since 2017, An Phat Holdings has expanded into the industrial real estate sector. An Phat Complex Industrial Park was listed among the top 10 most profitable industrial real estate companies in Vietnam in 2019 after just over a year in operation.

"Continuing the success of An Phat Complex Industrial Park, An Phat 1 Industrial Park is expected to bring great success to An Phat Holdings in this field," the Group's representative said.

The industrial real estate segment is expected to bring an average revenue of VND600-700 billion ($26 million) per year, and an average after tax profit of VND180 billion ($7.8 million) a year.

The project implementation schedule for An Phat 1 Industrial Park is required not to exceed 36 months from the date of land allocation. The operation duration of the project is 50 years starting Feb. 17, 2021.