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KBC: THE 90 HETARES OF EXTENDED QUANG CHAU INDUSTRIAL PARK IS APPROVED OF THE INVESTMENT POLICY AND INVESTORS BY THE PRIME MINISTER

On November 4th, 2022, the Prime Minister signed Decision No. 1320/QD-TTg approving the investment policy for the Investment project on construction and infrastructure business of the expanded Quang Chau Industrial Park in Bac Giang province, and at the same time approved the investors for Saigon - Bac Giang Industrial Park Joint Stock Company (SBG) - a subsidiary of KinhBac City Development Holding Corporation (KBC), with the following details:

-         Investor: Saigon - Bac Giang Industrial Park Joint Stock Company (SBG)

-         Project name: Investment in construction and infrastructure business of the expandedQuang Chau Industrial Park

-         Project objective: Construction investment and Infrastructure business of the Industrial Park

-         Scale of land use of the project: 90ha

-         Project implementation location: Quang Chau commune, Viet Yen district, Bac Giang province

-         Project investment capital: 996 billion VND

-         Project operation period: From the date of the issuance of the decision on investment policy to the end of February 5th, 2057.

Quang Chau Industrial Park, invested by SBG - a subsidiary of KBC, which is one of the typical industrial zones in Bac Giang province, is always at the forefront of Bac Giang province’s promotion and investment attraction and contributes significantly to the economic and social development of the neighborhood.

Quang Chau Industrial Park has been planned to invest and develop according to the model of a modern architectural complex including: Industrial Park - Urban Area - Utility and Service Area. The expanded Quang Chau Industrial Park approved in 2022 has raised the total area of the whole Industrial Park from 426 hectares to 516 hectares. In particular, the existing industrial park of 426 hectares has been filled with 100% of industrial land, attracting 41 investment projects, including 37 FDI projects, 4 domestic investment projects with a total investment capital up to 2.8 billion USD, creating jobs for about 67,000 workers. Typical investment projects include large-scale investment projects of famous corporations such as: Foxconn (with projects of member companies such as Fuhong, Fuyu, Fukang), Luxshare- ICT, JA Solar, Siflex, Samkwang, Crystal Martin, Lens, ....

The expansion phase with an area of more than 90 hectares, which has just been signed by the Prime Minister approving the investment policy for the project, has also attracted many large investors interested in surveying and registering to rent with high expected occupancy rate up  to more than 90%. In particular, Foxconn Group - a large satellite of Apple Corporation, after surveying the site, signed a Memorandum of Understanding on land leasing with SBG Company in August 2022, confirming the leasing of 50.5 hectares of land to implement an investment project focusing mainly on the production of Apple products in Bac Giang province, Vietnam with an investment capital of more than 300 million USD. This is an extremely important project for Vietnam in general and Bac Giang province in particular.

Quang Chau Industrial Park with modern factories is filling up at a rapid rate

This investment project of Foxconn in the expanded Quang Chau Industrial Park can be seen as a realized result of Prime Minister Pham Minh Chinh's successful business trip to the United States in May 2022. During this business trip, the Prime Minister met and discussed with senior leaders of Apple Corporation. The Prime Minister asked Apple Corporation to focus on investing in developing business activities in Vietnam, bringing Apple products to a wide range of customer segments and Vietnam will become one of Apple's typical markets in the Asia region. Mr. Tim Cook - CEO of Apple Corporation, at that time, affirmed that Apple wanted to expand the supply chain in the Vietnamese market, and coordinated with Vietnamese businesses which had the conditions and standards to participate in Apple’s value chain.

Foxconn Factories in Quang Chau Industrial Park, Bac Giang

The leaders of Bac Giang province together with the provincial departments and agencies have highly supported the expanded Quang Chau Industrial Park Project, actively coordinated with SBG to quickly complete the relevant documents to submit and explain to the Ministry of Planning and Investment and the Prime Minister for approval of the investment policy for the Project. Expanded Quang Chau Industrial Park is expected to continue to be a bright spot in terms of attracting FDI investment, creating jobs for local people and making a great contribution to the budget of Bac Giang province.

Since 2017 until now, Quang Chau Industrial Park, Bac Giang province has always been a typical industrial park in the system of KBC's industrial park projects in terms of rapid occupancy rate of industrial land area as well as high FDI attraction results. KBC's industrial parks always have clean industrial land with a large area of hundreds of hectares, ready to attract and hand over land to investors to quickly implement projects.

KBC's Chairman

Mr. DANG THANH TAM

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