He also held a working session with the infrastructure developer of the Phu My 3 Specialized Industrial Park in Tan Phuoc Ward, Ho Chi Minh City.
During the inspection of the Long Son Petrochemical Industrial Park and a working session with the developer of the Phu My 3 Specialized Industrial Park, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc called for maximizing the area's potential to plan and develop it into a modern coastal economic zone.
Unlocking resources and expanding development space
During the field inspection of the Long Son Petrochemical Industrial Park, the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) presented a report on the project's status and implementation progress.
The Long Son Petrochemical Industrial Park was granted investment policy approval by the Prime Minister in 2008. Following several adjustments to its master plan, the project has now received investment policy approval for an area of approximately 850 hectares, with Long Son Petrochemical Industrial Park Investment Joint Stock Company (Long Son PIC) serving as the project developer. The project has a total registered investment capital of more than VND3.309 trillion (US$126 million).
However, the project is currently facing a number of challenges related to legal procedures, planning adjustments, land clearance, and resettlement, which have affected its implementation progress.
To accelerate the implementation of the Long Son Petrochemical Industrial Park project, the developer proposed several solutions to transform the industrial park into a green and environmentally friendly development in line with the master plan approved by the Prime Minister, while enhancing its capacity to attract between US$15 billion and US$20 billion in foreign direct investment (FDI).
Regarding the Phu My 3 Specialized Industrial Park in Tan Phuoc Ward, Ho Chi Minh City, after more than a decade of development, the industrial park has become one of the largest and most modern industrial parks in southern Vietnam, attracting nearly US$6 billion in investment capital. It is also working toward becoming the country's first eco-industrial park.
Reporting to the Ho Chi Minh City leadership, Ms. Nguyen Thi Thao Nhi, Chairwoman of the Board of Directors and Chief Executive Officer of Thanh Binh – Phu My Joint Stock Company, said that the Phu My 3 Specialized Industrial Park was established in 2014 with a planned area of nearly 1,000 hectares.
The industrial park has been comprehensively developed with modern technical infrastructure and an integrated system of business support services. It also enjoys a strategic location near the Cai Mep–Thi Vai deep-water port complex, the Long Son Petrochemical Complex, gas storage terminals and ports, and the region's logistics hubs, providing favorable conditions for import-export activities and supply chain connectivity.
Leveraging these advantages, the developer has established the Phu My Global Supply Chain Center, featuring a large-scale logistics ecosystem that includes a 38-hectare inland container depot (ICD), a port system, smart container depots, and approximately 320,000 square meters of multi-purpose warehousing facilities.
To date, the industrial park has attracted nearly US$6 billion in investment capital and is expected to exceed US$7 billion by 2027 once the projects currently under review complete the licensing process. At the same time, the developer has finalized its application for recognition of the park as Vietnam's first eco-industrial park.
Building on these achievements, the investor proposed expanding the industrial park's area to establish a large-scale industrial ecosystem, enhance its competitiveness, and attract additional high-tech investment projects.
Developing modern port cities
Concluding the inspection, Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc emphasized that the field survey was conducted to comprehensively assess the potential and competitive advantages of the Long Son–Phu My–Tan Phuoc area. The findings will serve as the basis for planning and developing a modern coastal economic zone, creating a new growth driver to support Ho Chi Minh City's ambition of becoming a megacity capable of achieving double-digit economic growth.
He acknowledged the difficulties and bottlenecks facing the Long Son Petrochemical Industrial Park project, while directing relevant agencies to thoroughly review the outstanding issues and submit reports and recommendations to the Deputy Prime Minister to facilitate the timely removal of obstacles, ensuring that the project is implemented in accordance with the approved plan.
At the Phu My 3 Specialized Industrial Park, Mr. Nguyen Van Duoc highly appreciated its well-planned development, integrated technical infrastructure, and comprehensive provision of essential services, including electricity, water, gas, and logistics, which effectively meet investors' requirements. With an occupancy rate of approximately 60 percent and a further 20 percent of its area already committed by registered investors, the industrial park has largely met the conditions for expansion in accordance with prevailing regulations. He described it as a modern, eco-industrial park with high investment efficiency, well aligned with the city's strategy for high-tech industrial development.
The Chairman of the Ho Chi Minh City People's Committee affirmed that the city would continue to accompany and facilitate businesses in expanding their investments and developing industrial parks along green, modern, and sustainable lines. The city will also explore opportunities to connect with strategic investors.
Regarding the remaining industrial land, the city will carefully select investors with strong capabilities, advanced technologies, and long-term development commitments, while rejecting land speculation. The overarching goal is to develop Long Son, Phu My, and Tan Phuoc into modern port cities, creating a new growth pole, maximizing the potential of the marine economy, and ensuring the sustainable development of Ho Chi Minh City.
