Vietnam currently has 414 industrial parks covering 127,000 hectares and over 1,000 industrial clusters covering 31,000 hectares, contributing about half of the country’s total exports.
According to Dr Le Minh Nghia, Chairman of the Vietnam Financial Consulting Association, there are five groups of financial policies to promote industrial park development, namely tax and fee, investment, credit, land and other policies.
However, the role of credit policies remains relatively minor and financial resources for industrial park infrastructure development are very limited, resulting in incomplete infrastructure and construction delays.
Inconsistent preferential investment regulations also make some industrial parks ineligible for incentive policies.
Dr Can Van Luc, chief economist at the Bank for Investment and Development of Vietnam (BIDV), pointed out seven obstacles to financial resources for industrial park infrastructure development.
He proposed some measures to remove the hurdles, including fine-tuning the institutions, stepping up the resolution of difficulties facing industrial park projects and accelerating public investment to upgrade the infrastructure linking industrial parks.
The economist also called for promptly addressing problems in the financial markets and diversifying real estate financial institutions to open large capital mobilisation channels.
For investors of industrial parks, it is recommended that they restructure their products, diversify their capital resources and better meet environmental and safety regulations.
