The second phase of investment in the construction and operation of infrastructure at the Song Cong 2 Industrial Park in northern Thai Nguyen province will have total capital of VND3.98 trillion ($161.7 million), of which the investor will contribute VND597.8 billion ($24.2 million). The project is expected to be completed within 36 months from the date of land handover by the State.

This is within Decision No. 225/QD-TTg, approving the investment policy for the project, signed by Deputy Prime Minister Le Minh Khai on March 7. The main investor is the Viglacera Thai Nguyen Joint Stock Company.

Straddling Ba Xuyen and Tan Quang communes in the city of Song Cong, the project is divided into two zones, of which Zone 1 covers 152.52 ha and Zone 2 120.72 ha.

The Ministry of Planning and Investment (MPI) is tasked with appraising the project along with overseeing State management concerning industrial parks in accordance with State investment regulations. Other ministries and agencies are responsible for evaluating the project within their jurisdiction.

The Thai Nguyen Provincial People’s Committee is required to ensure the accuracy of information and report on data and content assessed according to the provisions of the law as well as the compatibility of the project with approved planning by competent authorities, while taking into account the opinions of relevant ministries and sectors.

The province is also responsible for directing the provincial Management Board of Industrial Parks and relevant agencies to facilitate and supervise project implementation, including land allocation and compensation and resettlement support.

Viglacera Thai Nguyen is responsible for the legality and accuracy of the project dossier and documents sent to relevant State authorities.

The company is only allowed to carry out the project after obtaining approval for the land use change from rice cultivation to project implementation according to the provisions of the land law and land use management regulations. It is also required to pay a fee for protecting and developing rice cultivation land as prescribed by law.

It also needs to have a forest replacement plan approved by the relevant State authority or take the responsibility for paying for forest replacement according to regulations after obtaining approval for the project.