Work kicks off on Vong Xuyen Industrial Cluster
The capital city has identified infrastructure development as a focal point for its economic growth, in which industrial parks are the center.
The groundbreaking ceremony for the construction of a new Industrial Cluster in Vong Xuyen Commune, Phuc Tho District, Hanoi was launched by the district People's Committee.
|Delegates attend the groundbreaking ceremony. Photo: Lam Nguyen/ The Hanoi Times
Speaking at the event on July 21, Nguyen Manh Quyen, Vice Chairman of the Hanoi People's Committee said that once becoming operational, the Vong Xuyen Industrial Cluster would contribute to solving the demand for industrial and handicraft businesses in the locality for industrial property.
He added it will solve the problem of environmental pollution and promote sustainable development in the fields of industry and handicrafts as well as change the locality’s economic structure.
Phuc Long Infrastructure Investment JSC, the project’s investor in collaboration with the People's Committee of Vong Xuyen Commune has completed the site clearance work after two years of efforts to prepare for the project.
With an area of about 5.92 ha, the industrial cluster project has total investment capital of VND160.2 billion ($6.8 million), of which the investor's own capital is VND32 billion ($136,325), accounting for 20% of the total.
According to Quyen, the city identified the development of the infrastructure system as key to making a breakthrough, including the development of industrial production infrastructure, thereby contributing to achieving the city’s industrial growth targets.
The district has only two industrial clusters with a total area of about 10ha. Therefore, the formation of more industrial clusters to attract businesses is essential, he said.
In 2021, despite being affected by the Covid-19 pandemic, the total production value in the district was estimated at VND13.4 trillion ($571.6 million) while the growth rate of production value was 6.3% compared to the previous year.
In 2020, the Hanoi People's Committee allowed six enterprises to invest in Tam Hiep, Nam Phuc Tho, Lien Hiep, Thanh Da, Long Xuyen and Vong Xuyen industrial clusters, with a total capital of nearly VND2 trillion ($85.3 million).
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