The Vinh Quang Industrial Park infrastructure construction and business investment project (Phase 1) was approved for investment at the beginning of 2025, with a total area of 226 hectares.
The project has a total investment of VND 3,550 billion, including over VND 535 billion in investor contribution. It is developed by IDICO Vinh Quang Joint Stock Company, a subsidiary of the IDICO Corporation.
To implement the project, approximately 921 households will be affected in the initial phase. Specifically, Vinh Bao commune contributes about 50 hectares, corresponding to 323 households, while Vinh Hai commune accounts for around 113 hectares, corresponding to 598 households.
Currently, the project is expediting site clearance. According to reports, as of August 13, 561 out of 921 households have received compensation for site clearance with a total amount of over VND 270 billion.
Up to now, the Vinh Bao Area Project Management Board has coordinated with the People’s Committees of Vinh Bao and Vinh Hai communes to complete the work of determining the origin of land for all 921 households whose land is being acquired.
In addition to the households that have received compensation, the local authorities are coordinating with the Vinh Bao Area Project Management Board and the investor to continue paying compensation for site clearance to the remaining households with approved plans. They are striving to complete this process within August 2025.
According to the investor’s plan, the project will be inaugurated in late September 2025.
It is known that Vinh Quang Industrial Park is oriented to develop an ecological model, combining modern technology and efficient resource management.
The project has a duration of 50 years from the date of the decision to approve the investment proposal. The implementation period shall not exceed 36 months from the date of land handover.
Upon completion, this project will not only promote industrial development but also create thousands of high-quality jobs for local workers.
Currently, IDICO is investing in and managing 12 industrial parks with a total area of nearly 4,000 hectares. Of these, nine industrial parks are in the South and three are in the North, attracting nearly 400 enterprises with a total investment of about USD 9 billion.
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