Deputy Prime Minister Bui Thanh Son has signed Decision No. 1431/QĐ-TTg on November 19, 2024, approving the investment policy for the WHA Smart Technology Industrial Park infrastructure construction and business project in Thanh Hoa province.
The decision outlines the approval of the investment policy and the acceptance of the following investors: WHA Industrial Development 2 (SG) Pte. Ltd.; WHA Industrial Management Services Vietnam Co., Ltd.; and WHAUP Nghe An JSC.
The project aims to develop and operate industrial park infrastructure. It will cover a total land area of 178.51 hectares, located in the Hoang Quy, Hoang Xuyen, and Hoang Cat communes of Hoang Hoa district, Thanh Hoa province.
The total investment for the project is 1.32 trillion VND (approximately 55 million USD), with investors contributing 216 billion VND (about 9 million USD).
The project is set to operate for a duration of 50 years, starting from the date of investment policy approval and investor acceptance.
The implementation timeline is capped at 36 months from the date the state allocates land to the investor-established economic organization.
Investors must comply with all environmental protection regulations and procedures.
The Ministry of Planning and Investment will oversee the appraisal of the project’s investment policy and manage the industrial park in accordance with the Investment Law and related legislation.
Relevant ministries are tasked with appraising the project’s investment policy within their respective functions and responsibilities, as prescribed by the Investment Law and other applicable laws.
The People’s Committee of Thanh Hoa province is responsible for ensuring the accuracy of information, reporting data, and appraisal content as required by regulations. Additionally, it must confirm that the project aligns with approved planning and allocate sufficient industrial land quotas to meet the approved timeline, as specified in Thanh Hoa’s land allocation plan and the annual land use plan for Hoang Hoa district.
Investors are required to:
- Ensure the legality, accuracy, and truthfulness of project applications and supporting documents submitted to state agencies.
- Establish an economic organization to implement the project.
- Ensure timely and sufficient capital contributions as stipulated by law.
- Comply with regulations on land, real estate business, and other relevant laws.
- Complete environmental protection procedures as mandated by legal regulations and guidelines.
