Hoang Mai Industrial Park I: In sync with the movement of the Nam Thanh - Bac Nghe regions

Bright spot attracting investment in Nghe An

Overcoming challenges and difficulties caused by the impact of the COVID-19 pandemic, Hoang Thinh Dat Joint Stock Company has determined to complete the infrastructure development for Hoang Mai I Industrial Park to be ready to welcome the wave of investors shifting to the manufacturing and assembly sector.

As of December 2022, Hoang Mai I Industrial Park has made a spectacular "reverse" with 75% of its industrial land being filled by 5 investment projects that have signed land lease contracts, with a total expected investment capital of more than 6,000 billion VND, equivalent to 262 million USD.

Leaders of Nghe An province, Ju Teng Group and delegates performed the groundbreaking ceremony for the Ju Teng Electronic Product and Auto Parts Manufacturing Factory Investment Project. Photo courtesy of Thanh Duy

The investment projects up to now in Hoang Mai I Industrial Park are mainly foreign direct investment (FDI) projects, of which the most prominent are the Phase 1 Electronic Components and Auto Parts Factory Project of Ju Teng International Group (Taiwan) and the Export Footwear and Sandals Manufacturing Project of Hoa Loi Group (Taiwan). Both projects have been granted investment certificates and started factory construction from September 2022, expected to go into production in the third quarter of 2023. Therefore, it can be affirmed that Hoang Mai I Industrial Park in particular and Hoang Mai town in general have gradually appeared on the investment attraction map for foreign investors when researching and choosing project investment locations in Vietnam.

Contribute to the socio-economic development of the province

With the situation of workers returning home due to the impact of the COVID-19 pandemic and the wave of labor cuts due to the general fluctuations of the world, attracting new investment projects to come into operation will partly reduce the burden of stable employment for local workers. It is expected that when all the projects that have been invested up to now in Hoang Mai I Industrial Park come into operation, there will be nearly 30,000 new workers recruited in Nghe An province and neighboring provinces and cities.

3D perspective of Hoang Mai II Industrial Park Project. Photo: PV

The investment projects that have been attracted up to now include production projects in the field of high technology content and great contribution to the product value structure. These projects will directly participate in the training and capacity development of the existing local workforce, as well as attract more skilled workers from other localities, thereby improving the quality of the general labor force in Nghe An province.

In addition, the presence of FDI investors will also contribute to promoting the process of technology transfer and creating a boost for businesses operating in the supporting industry sector in the region. These factors will contribute to helping Hoang Mai town in particular and Nghe An province in general become an attractive and competitive destination in the country.

Not only positively impacting the manufacturing, processing, manufacturing, and supporting industries, the development of Hoang Mai I Industrial Park as well as secondary investors in the Industrial Park will also have indirect impacts on other socio-economic sectors. Investment projects, when put into operation, are expected to contribute thousands of billions of VND to the provincial budget, creating momentum to promote economic recovery and development programs, and increasing investment in social security, health, and education.

Committed to sustainable development in the future

With the advantages of natural conditions, social infrastructure focused on synchronous development and a positive and innovative investment and business environment, Hoang Thinh Dat Joint Stock Company commits to continue to stand side by side with Nghe An province to implement the next projects in the coming time, towards the goal of developing a prosperous and beautiful homeland.

Hoang Mai 1 Industrial Park. Photo: Tran Chau

Hoang Mai I Industrial Park is the starting project for projects that Hoang Thinh Dat Joint Stock Company has planned to invest and implement in Nghe An province in the coming time, including Hoang Mai II Industrial Park Project and social infrastructure projects such as the Expert Housing Project in Hoang Mai town, Hoang Mai Golf Course and Resort Project, etc. These projects will be focused on by the Company in a synchronous and oriented manner to promptly meet the needs of existing investors and, together with Nghe An province, prepare to welcome the wave of FDI capital flow shift in the new context of the economic and political situation in the region as well as globally.

Infrastructure of Hoang Mai Industrial Park 1. Photo: Tran Chau

Chau Lan