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Wednesday, June 26, 2024

Binh Duong allocates 1,300 ha of land for factory relocation

By Nguyen Tan

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HCMC – Binh Duong Province has earmarked 1,300 hectares of land to accommodate around 2,900 enterprises and factories set to be relocated from residential areas between 2024 and 2030.

Numerous facilities currently located in residential areas across Thuan An, Di An, Tan Uyen, and Thu Dau Mot cities will be required to move to industrial clusters in Bau Bang and Dau Tieng districts. The province also plans to establish specialized industrial clusters to house pottery factories and wood processing facilities.

In a bid to support the relocated facilities, authorities have proposed a range of incentives, including the conversion of land use purposes, deferment of fee payments for land use conversion, and reduced lending rates for the construction of new facilities.

Moreover, projects involved in building infrastructure for industrial clusters will be exempt from land rentals for 11 years and eligible for Government loans not exceeding 70% of the total investment capital.

The province is also considering allowing 70% of the factories subject to relocation to inherit the land use rights at their current locations.

According to authorities in Binh Duong, the decision to relocate factories in the southern province is driven by several factors, including the failure of some facilities to meet environmental protection and fire prevention requirements. Furthermore, the plan aims to repurpose land for future service development, urban revitalization, and social housing projects.

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