PM approves the investment policy for the Hoang Mai II Industrial Zone project in Nghe An province

The Hoang Mai II Industrial Zone covers an area of 334.79 hectares in Quynh Vinh commune, Hoang Mai town; with a total investment capital of VND 1.9 trillion, an operational period of 50 years from October 9, 2023; the implementation progress shall not exceed 36 months from the date of land handover by the state.

According to Decision 1164/QD-TTg, the land area already leased by existing investors in accordance with the law shall not be included in the allowable area for re-leasing by the investor.

The Prime Minister has tasked the People's Committee of Nghe An province with the responsibility to inspect and determine whether the investor meets the conditions set by the state for land leasing at the time of land leasing; to ensure compliance with the state's regulations on land use conversion for project implementation.

Ensure conditions for permitting land use conversion during the land leasing process, permit land use conversion for project implementation; organize the construction and implementation of land recovery plans, land use conversion in accordance with the procedures and regulations of the land law; invest in the construction of housing for workers, service facilities, public utilities for laborers working in the industrial zone.

Hoang Thinh Dat Joint Stock Company (the investor) shall only implement the project after an approved forest replacement plan is obtained from the competent state authority, or after fulfilling the responsibility of contributing money for forest replacement in accordance with regulations.

Decision No. 1164/QD-TTg also specifies that the investor of the Hoang Mai II Industrial Zone must allocate a minimum of 3% of the total industrial land area of the industrial zone for small and medium-sized enterprises, supporting industrial enterprises, innovative and creative enterprises, and priority entities entitled to investment incentives under the Investment Law; other enterprises eligible for priority and support in terms of production and business locations in accordance with land leasing and re-leasing regulations stipulated in Decree No. 35/2022/NĐ-CP.

Previously, Hoang Thinh Dat Joint Stock Company was also the investor of the Hoang Mai I Industrial Zone in Hoang Mai town with a total area of 264.77 hectares. As of the current time, the Hoang Mai I Industrial Zone project has completed almost the entire infrastructure construction structure and has attracted foreign investors.