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Hanoi will have an industrial park of 303 hectares in Soc Son

Prime Minister decided investment policy of Soc Son Clean Industrial Park, Hanoi. Illustrative photo: VNA

Soc Son Clean Industrial Park covers an area of nearly 303 hectares with a total investment of about 3,227 billion dong. Hanoi is responsible for finding investors to implement the project.

Prime Minister has just decided investment policy project to build technical infrastructure of industrial zones (industrial zones) clean Soc Son, Minh Tri commune and Tan Dan commune, Soc Son district, Hanoi city. The land use scale is nearly 303 hectares.

Total estimated investment capital is nearly 3,227 billion VND, in which contributed capital of investors to implement the project is 850 billion VND. The project implementation schedule must not exceed 36 months from the date of being handed over the land by the State.

The Prime Minister directed the Hanoi People’s Committee to direct the Management Board of Hanoi Industrial Parks and Export Processing Zones to guide investors and specify the progress of the project, the progress of capital contribution and mobilization of capital sources, the progress of infrastructure construction, the progress of implementation of each phase as committed by the investor. The duration of implementation is 50 years from the date of approval of the investment policy.

The People’s Committee of Hanoi City is also not allowed to change the remaining purpose of using the planned area of ​​Soc Son Industrial Park (37.2 ha) to another purpose without following the order and procedures for adjusting the planning of the industrial park according to the plan.

At the same time, Hanoi is responsible for proposing the selection of investors to implement projects that meet the conditions prescribed by the law on investment, bidding, land, real estate business and other relevant laws.

According to a report from Savills, the average occupancy rate of industrial zones in Vietnam has increased since 2018, leading to a shortage of supply and rising demand for rent in some places, from which the rental price has increased sharply. Hanoi is one of the localities with the highest increase in industrial zone rents in the North, with an increase of 13% equivalent to the rental price of USD 129 / m2. This rent is 35-40% higher than other localities in the same region.