The Vietnam Industrial Parks Finance Association (VIPFA) has opened a representative office in Hanoi with the aim of enhancing support for businesses and investors investing in industrial parks (IPs).

Addressing the opening ceremony, VIPFA Chairman Phan Huu Thang said the opening of the representative office will create conditions for the association to connect its business members and improve support for the business community and IP investors.

“The business community is facing many challenges and difficulties, including those relating to markets, technology and environment protection. To support businesses, VIPFA will promote investment and business activities in Vietnam, particularly at IPs, economic zones and industrial clusters for more effective and sustainable operation,” he said.

The association will focus on specific tasks for 2024 and 2025 such as boosting investment promotion activities, developing existing IPs, updating market information and amending, supplementing and issuing new regulations and policies relating to businesses and IPs, according to Mr. Thang.

The association will also supervise operation of IPs to provide timely support in dealing with emerging difficulties in production and trade activities of businesses; and promote international cooperation to seek international support for the development of the IP system in Vietnam.

The association will make recommendations to state management agencies on pending issues of businesses related to policies, management mechanisms, and operations of IPs and economic zones.

VIPFA is also act as a source to update and provide information for strategic partners on policies, mechanisms and regulations related to investment, finance, tax, customs and issues relating to the operations of IPs, economic zones, and industrial clusters.

Within the framework of the opening ceremony, the VIPFA signed cooperation agreements with eight strategic partners, including domestic and international investment funds, IP development firms and businesses operating at IPs.