» » Khang Thong allowed to build IP, duty-free area

The HCMC-based Khang Thong Joint Stock Company has just obtained an investment certificate to develop a new industrial park and a duty-free area in Nhon Hoi Economic Zone in the central province of Binh Dinh.

Khang Thong will spend more than VND4 trillion, or some US$235 million, developing the duty-free area covering 490 hectares, an industrial zone covering 70 hectares and a bonded depot covering 40 hectares inside the economic zone near Quy Nhon City.

The company is expected to start work on the projects next year and complete work in 2012, ready to bring them online one year later, said an official from the central province.

Nguyen Thanh Hai, director of the province’s investment promotion center, told the Daily on Thursday on the phone that he expected Khang Thong as a big company in HCMC to develop the projects quickly.

Khang Thong specializing in real estate and infrastructure projects has several properties underway in HCMC, Long An and Ba Ria-Vung Tau provinces.

The company early this year inaugurated an office building at 67 Nguyen Thi Minh Khai Street in HCMC’s District 1 to meet the increasing demand of local and foreign companies.

Khang Thong currently operates Thanh Duc Industrial Park (IP) in the Mekong Delta province of Long An, and also is developing three other IPs including the 56-hectare Kim Dinh IP, the 68-hectare Tam Phuoc 3 IP, and the 50-hectare Tam Phuoc 4 IP in Ba Ria-Vung Tau Province.

Besides, the company is developing some residential projects including an 11-hectare project in Ben Luc District, Long An Province, a villa area on 72 hectares nearby, and a 11-hectare project in HCMC.

Khang Thong IP will be the fourth IP inside Nhon Hoi Economic Zone. The other three IPs are being developed by three other companies, comprising Saigon-Nhon Hoi Joint Stock Company under Saigon Invest Group, Hong Kong’s Hong Yeung International Limited, and another local company named HBC.

Nhon Hoi Economic Zone in the central province of Binh Dinh, around 700 kilometers north of HCMC, is emerging as an attractive destination for investors in tourism, infrastructure and manufacturing projects. It is adjacent to the existing Quy Nhon Port, one of the top ten ports in Vietnam, which is able to accommodate 30,000DWT ships.

A lot of major Vietnamese and foreign companies have shown keen interest in Nhon Hoi, with projects in the pipeline to include industrial parks and ports, a wind power station, residential complexes, auto factories, shipyards and tourism facilities.

At least 19 local and foreign companies have been licensed to invest into the zone with total pledged capital of more than VND15.7 trillion, or nearly US$1 billion.

Investors in Nhon Hoi will benefit from incentives similar to those that apply in the Chu Lai Open Economic Zone and the Dung Quat Economic Zone in Quang Nam and Quang Ngai provinces nearby.

By Quoc Hung/
The Saigon Times Daily

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