Vietnam’s Phu Yen province officially approved the investment policy for Phase 1 of the Hoa Tam Industrial Park infrastructure development project and business investment project on May 30. Led by Hoa Phat Group’s Hoa Tam Industrial Park Infrastructure Development JSC, the project spans approximately 491.87 hectares with an investment exceeding VND 4,188 billion.

Located in Hoa Tam commune, Dong Hoa town, Phu Yen province, the park aims to develop industrial infrastructure, lease land, factories, and offices. This 70-year project is expected to complete construction and begin operations within 48 months of land allocation.

This is a key component of Hoa Phat's VND 120,000 billion investment plan in the Nam Phu Yen Economic Zone, which includes Bai Goc Port, investment in the construction and business of infrastructure for the Hoa Tam Industrial Park, and the Hoa Phat Steel Complex project. The industrial park will primarily support the 6-million-ton/year steel complex and is anticipated to create tens of thousands of jobs.