Phu Son Industrial Park, Hoa Binh province

Perspective Renderings of the Phu Son Industrial Park Project (formerly Nhuan Trach Industrial Park).Phu Son Industrial Park was renamed from Nhuan Trach Industrial Park under Decision No. 993/QD-UBND dated April 29, 2025, issued by the Hoa Binh Provincial People’s Committee. Previously, the project was approved for investment policy under Decision No. 256/QD-TTg dated February 22, 2022, by the Prime Minister. Phu Son Industrial Park is expected to be handed over in the first quarter of 2026.

I. Overview of Phu Son Industrial Park

As one of the key projects of Hoa Binh province, the Phu Son Industrial Park has a total area of 213.68 hectares (of which industrial land accounts for 69.74%) with a total investment capital of VND 2,389.5 billion, including VND 366 billion of investor equity. Once put into operation, the project is expected to create approximately 30,000 direct jobs and about 10,000 indirect jobs through commercial and service activities for the local area and neighboring provinces.

RSL Group would like to introduce an overview of the Phu Son Industrial Park project as follows:

Phu Son Industrial Park (formerly Nhuan Trach Industrial Park) commenced construction on January 10, 2025. This marks an important milestone in the economic development strategy of Hoa Binh Province while creating strong momentum for the real estate market in Luong Son.

II. Location of Nhuan Trach Industrial Park

Situated at the “gateway to the capital”, Phu Son Industrial Park lies between the center of Luong Son District and Xuan Mai Town (Chuong My District, Hanoi), giving it a strategic advantage in transportation connectivity in the northern region. From the project, it is easy to connect to key economic zones via National Highway 6, National Highway 21A, and Ho Chi Minh Road.

Transportation connectivity

• 2 km from Tan Mai Interchange
• ~2.5 km from National Highway 6
• ~1.2 km from National Highway 21A
• 35 km east of Hoa Binh City
• 40 km west of Hanoi’s city center
• 60 km from Noi Bai International Airport
• 160 km from Hai Phong Port

III. Infrastructure in Nhuan Trach Industrial Park

The Phu Son Industrial Park is currently undergoing active site clearance and leveling of surrounding infrastructure to ensure timely handover by Q1/2026. Below is the detailed master plan of the project:

Technical infrastructure of Phu Son Industrial Park

• Internal road system: The IP comprises five internal roads: road No. 1: 38 meters wide, road no. 2: 34 meters wide, road no. 3: 24 meters wide, road no. 4: 21 meters wide, road no. 5: 17.5 meters wide
• Power supply system: Electricity is sourced from the 110kV E19.2 Luong Son substation with a capacity of 2x25MVA. From 2026–2035: The Luong Son substation will be upgraded to 2x63MVA. An additional 110kV substation is planned during 2025–2030 adjacent to Phu Son Industrial Park.
• Clean water supply system: A water treatment plant with a capacity of 10,000 m³/day is in place. Backup (2025–2030): Water will be supplied from the planned Luong Son water supply network (originating from Hoa Binh City), passing through the Phu Son IP interchange.
• Wastewater treatment system: total capacity: 6,700 m³/day, including: one plant with 5,700 m³/day capacity, one plant with 1,000 m³/day capacity. All treated wastewater will meet environmental standards before discharge.
• Telecommunications system:
  Communication services are provided by major operators including VNPT, FPT, and Viettel, ensuring stable domestic and international connectivity.
  Available services include landline, mobile, fax, and high-speed Internet for all tenants.

Service infrastructure of Phu Son Industrial Park:

• The Phu Son IP Management Center covers an area of 2.2 hectares.
• Housing facilities are planned for experts and workers.
• During the initial project phase, major financial institutions such as VietinBank, BIDV, MB Bank, Agribank, and the Luong Son State Treasury are located within 5 km of the IP. Once the IP becomes operational, these institutions will establish branches directly inside the park to serve investors.
• Tax department, social insurance, and post office of Luong Son district: 4 km. Hoa Binh Customs Sub-department: 5 km. Luong Son General Hospital: 4.5 km. Luong Son District Police: 4.5 km

IV. Investment costs in Phu Son Industrial Park

• Industrial management service fee: Estimated about 0.5 USD/m2/year
• Electricity prices: normal hours: 1,555 VND/kWh; off-peak hours: 1,007 VND/kWh; Peak hours: 2,871 VND/kWh
• Clean water price: According to the unit price issued by the People’s Committee of Hoa Binh province.
• Wastewater treatment fee: depends on COD concentration.

V. Investment incentives at Phu Son Industrial Park

Enterprises operating in Phu Son Industrial Park are entitled to the following investment incentives:

Corporate income tax (CIT) incentives

• Preferential CIT rate of 17% for 10 consecutive years, starting from the first year the enterprise has revenue from the project. After this period, the tax rate returns to 20%.
• Exemption from CIT for 2 years and 50% reduction for the following 4 years, starting from the first year the enterprise has taxable income. This exemption and reduction period is applied consecutively from the first year taxable income arises. If the enterprise has no taxable income in the first 3 years (from the first year it has revenue), the exemption/reduction period will begin from the 4th year.

(Applicable to new investment projects.)

Import-export tax incentives

• Exemption from import tax on goods imported to create fixed assets; raw materials, supplies, and components imported for production.

Support from the Phu Son Industrial Park infrastructure investor

• Free support for investors in carrying out procedures for obtaining the Investment Registration Certificate and the Land Use Rights Certificate.
• Support and guidance on procedures for construction permits, fire prevention & fighting (PCCC), environmental licensing, and other related processes.

RSL Group will update investment costs and incentive policies for Phu Son Industrial Park in the near future.

This article highlights Phu Son Industrial Park as a prime investment location for both domestic and international businesses. We believe this information from RSL Group is valuable to our readers.

Discover more about potential IPs/ICs in Vietnam here.

V. RSL Group – leading investment consulting firm

When a business enters the stage of expanding production or building a new factory, there are numerous factors to consider – from selecting the right location, evaluating technical infrastructure, rental costs, and legal procedures to managing logistics, workforce, and supply chain efficiency.
Partnering with a professional consulting firm from the very beginning helps investors save time, costs, and resources while minimizing potential risks.
With nearly 4 years of experience successfully facilitating over 300 DDI and FDI projects totaling more than USD 4 billion in investment capital, Redsunland (a member of RSL Group) has become one of the leading investment consulting firms in Vietnam’s industrial real estate sector.
Thanks to its comprehensive service ecosystem and team of highly experienced consultants, investors partnering with RSL Group benefit from exceptional advantages:

• Access the most competitive prices in the market, along with attractive investment incentive policies.

• Negotiate directly with industrial park developers on behalf of investors regarding pricing, procedures, and all investment-related matters, while assisting in resolving legal issues and supporting factory design and construction.

• Offer financial solutions with funding packages covering up to 80% of land and machinery value and 100% of factory and working capital costs.

Contact RSL Group today for detailed consultation on investment opportunities at Dong Van VI Industrial Park.

RSL Group – Comprehensive investment promotion solutions

Selecting the appropriate consulting partner is crucial for a successful investment in Vietnam. RSL Group, with an experienced team, extensive property portfolio, and comprehensive service ecosystem, is dedicated to providing optimal investment solutions for our clients.

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