The project investor is Vietnam Rubber Industry Group – Joint Stock Company (HOSE: GVR).
The land use scale of the project is 495.2ha (excluding the area: Xom Bo – Bau Don road, N8 irrigation canal, Gò Dầu – Xa Mat expressway and Ho Chi Minh City – Tay Ninh railway passing through the project).
The project is implemented in Da Hang and Giua hamlet, Hiep Thanh commune, Go Dau district, Tay Ninh province. The total investment capital of the project is 2,350 billion VND, of which the investor’s contribution is 352.5 billion VND.
The project’s operating period is 50 years from the date the project is approved for investment decision at the same time as the investor’s approval (March 1, 2024).
Overview of Hiep Thanh industrial park
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The Prime Minister instructs the People’s Committee of Tay Ninh province to direct the Management Board of Tay Ninh Economic Zone to coordinate with relevant agencies in guiding investors to invest in the project in stages, ensuring compliance with the targets for industrial land in the national land use plan by 2025 as allocated to Tay Ninh province in Decision No. 326/QD-TTg and its amendments (if any); at the same time, ensuring the effective use of land and the progress of attracting investment to Hiep Thanh industrial park, where the next phase is implemented after the previous phase has been invested and constructed according to the schedule, achieving the occupancy rate as prescribed, and the ability to attract investment for the next phase.
The State Capital Management Organization in enterprises is responsible for Tập đoàn Công nghiệp Cao su Việt Nam – CTCP in using capital, mobilizing capital for investment in the project; ensuring the effectiveness of investment, preservation and development of state capital during the investment process of the project; and carrying out supervision, inspection and examination of investment activities, management, and use of state capital in enterprises in accordance with the provisions of the Law on Management and Use of State Capital Invested in Production and Business in Enterprises.
The People’s Committee of Tay Ninh province inspects and determines that the investor meets the conditions for leasing land from the state at the time of land lease; ensuring conditions for the state to allow the conversion of land use purposes to implement the project under the provisions of the land law.
Organize the construction and implementation of land recovery and conversion of land use purposes according to the sequence, procedures, and regulations of the land law; invest in the construction of workers’ housing, service facilities, and public utilities for workers working in industrial parks; support employment and vocational training for workers who lose their jobs in rubber planting.
The People’s Committee of Tay Ninh province directs the Management Board of Tay Ninh Economic Zone and relevant agencies to review and ensure that the planned project implementation area does not have cultural heritage material objects or affects intangible cultural heritage products in Tay Ninh province; comply with the requirements for protection and promotion of the value of cultural heritage and conditions as prescribed by the cultural heritage law.
Require the investor during the project implementation to report to the competent state agencies if valuable minerals higher than minerals used as ordinary building materials are discovered for settlement pursuant to the provisions of the mineral law.
Vietnam Rubber Industry Group – Joint Stock Company (investor) commits not to file a lawsuit and comply with the provisions of the law in the following cases: (i) rubber plantation land currently managed and used by Tây Ninh Rubber Joint Stock Company (HOSE: TRC) is determined by competent authorities to be state property and must be handled in accordance with the provisions of the law on state property, different from the content of this Decision; (ii) the results of land review and completion procedures for land causing changes in the content of this Decision.
The project can only be implemented after the competent authorities complete the review of the rearrangement and handling of state assets within the project scope and lease the land to implement the project without going through auction, competitive bidding to select investors in accordance with the provisions of the law on management and use of state assets, including Decree No. 167/2017/ND-CP and No. 67/2021/ND-CP, regulations of relevant laws, and after completing the conversion of rubber plantation land to non-agricultural land to implement the project.
Prepare a phased investment plan for the project, ensuring compliance with the targets for industrial land in the 5-year national land use plan 2021-2025 allocated to Tay Ninh province in Decision No. 326/QD-TTg and its amendments (if any); ensure sufficient equity capital to implement the project according to the committed schedule and comply with the provisions of the land law.
Carry out environmental protection procedures in accordance with the provisions of the environmental protection law and relevant guidelines. Provide a guarantee or have a bank guarantee for the deposit obligation to ensure the implementation of the project in accordance with the provisions of the investment law.
In 2023, GVR achieved nearly 22.1 trillion VND in revenue, a decrease of 13% compared to the previous year; net profit was nearly 2.6 trillion VND, a decrease of 33%, reaching the lowest level in the past 5 years.
As of the end of the year, GVR’s total assets were nearly 78.4 trillion VND, charter capital was 40 trillion VND, and accumulated profit was over 5 trillion VND.
| GVR’s business results from 2013 to 2023 |
The infrastructure investment sector is one of the 5 main industries of GVR. As of the end of 2022, the Group has invested in 10 companies operating in the industrial park infrastructure sector such as Nam Tan Uyen, Tan Binh, Long Khanh, Bac Dong Phu, Dau Giay, Rach Bap, Thong Nhat, VRG Long Thanh, Binh Long, Chi Linh…
In the 2021-2025 period, in addition to carrying out legal procedures and investing in industrial parks and clusters that have been approved for investment decisions and are applying for investment approval with an area of 2,921ha (including 1,735ha undergoing procedures), GVR said it will continue to develop an additional 16,592ha. Of which, the Group will be the investor of 10,977ha in Tay Ninh, Binh Duong, Dong Nai, and Ba Ria – Vung Tau provinces, and other units will invest in 5,615ha. The total area of industrial parks and clusters developed for the vision by 2025 is expected to be 23,444ha.
