Funding the Infrastructure development for Tân Phước 1 Industrial park in Tiền Giang

June 04, 2024 - 20:13
Deputy Prime Minister Lê Minh Khái has recently signed Decision No. 471/QĐ-TTg regarding the investment policy to develop and operate the infrastructure of Tân Phước 1 Industrial Park in Tiền Giang Province.


The highway system connects Tiền Giang province with HCM City and other provinces — VNA/VNS Photo

HÀ NỘI — Deputy Prime Minister Lê Minh Khái has signed Decision No. 471/QĐ-TTg regarding the investment policy for the infrastructure of a major industrial park in Tiền Giang Province.

The project involves VNĐ5.93 trillion and covers an area of 470 hectares. It will be located in Tân Lập 1 Commune, Tân Phước District, Tiền Giang Province.

The project will have a lifespan of 50 years from the date of approval of the investment policy and the acceptance of the investor. The implementation timeline is set to be no more than 60 months from the date the land is handed over by the State.

The Deputy Prime Minister has assigned several responsibilities to ensure the smooth execution of the project. The Ministry of Planning and Investment is required to be responsible for the appraisal and state management of the industrial zone in accordance with the Investment Law. Relevant ministries and sectors are to appraise the investment project proposal within their respective functions.

The People's Committee of Tiền Giang Province is responsible for the accuracy of the information and data reported, ensuring the project aligns with approved plans and guaranteeing the precision regarding land use to avoid any disputes or complex complaints.

The People's Committee must also update the industrial zone's area into the land use plan for 2021-2025, organise land recovery, compensation and the conversion of land use purposes as per regulations. If there are public assets involved, these must be managed in accordance with the law on public asset management.

IDICO Tiền Giang Joint Stock Company, the investor, is responsible for the legality and accuracy of the project dossier, it must bear all risks and responsibilities if the commitments are violated and needs to collaborate with all the relevant agencies to implement compensation and resettlement in accordance with regulations.  — VNS