Hanoi has officially approved the establishment of the Phung Xa Industrial Cluster in Tay Phuong Commune.
The Phung Xa Industrial Cluster will cover approximately 63 ha with a total estimated investment of nearly VND1.2 trillion (approx. $46 million). The cluster is designed to primarily host industries including mechanical engineering, agricultural and forestry processing, textiles, and footwear.
The technical infrastructure is scheduled to be completed within 18 months from the date of the establishment decision. The project has an operational term of 50 years.
Infrastructure developers and businesses operating within the cluster will be entitled to investment incentives in accordance with the Law on Investment, Government Decree No. 32/2024/ND-CP, and other relevant legal provisions.
According to the Hanoi Capital Master Plan with a 100-year vision, the city aims to become a national leader in high-tech industrial development. Hanoi intends to play a leading role in regional and inter-regional industrial corridors, participating effectively in global value chains and distribution networks.
The city is prioritizing the development of supporting industries—specifically the production of components and parts for the textile, footwear, aviation, and railway sectors—as well as new materials, digital technology, software, semiconductors, quantum technology, and biotechnology.
Moving forward, Hanoi will focus on attracting high value-added projects with large capital investment and high domestic revenue potential. Preference will be given to projects that require minimal industrial land, utilize labor efficiently, and practice energy conservation.
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