| Abstract | Bien Hoa 1 industrial zone (BH1 IZ) was established in 1963 and was the first one in South of Viet Nam with a biggest total area. There is a major constraint that leads to the infrastructure system remained mired in a deep malaise. When it was established for the first time in 1963, there was no planning. Besides that, management and maintenance of infrastructure system didn't execute strictly. Therefore, the quality of the infrastructure system seriously degraded. Moreover, most of operating factories in BH1 IZ built before 1975, so there are only few factories that can transfer technology, replace old equipment and install effective waste water treatment system, while the majority of factories could not afford to do like that by their own means and finance. Under these circumstances, in 2001, the Prime Minister assigned Sonadezi Corporation (SND) the task is to upgrade the infrastructure system of BH1 IZ. As a consequence, SND has managed and changed the face of BH1 IZ with a synchronous infrastructure system. However, it could not prevent a continuous increase of environmental pollution in BH1 IZ, especially waste water pour into Dong Nai River. Up to the end of December 2012, there are 104 factories are running in BH1 IZ. So, together with economic development, environmental pollution in BH1 IZ has become a big problem which must be solved strictly. Another major problem is the existence of inefficient use of land within the area of factories. There are many factories which do not use all of their land area while others do not have enough land area for their production and expansion. Moreover, in recent years the fund of available land in big cities has become exhausted. Therefore, it is quite difficult not only for SND but also for those factories to seek favorable locations for developing new projects and thereby expanding their business either within the industrial zone or somewhere else. According to Department of Natural Resources and Environment of Dong Nai province, there is a huge amount of sewage from factories which pouring into Dong Nai River. This issue is very serious and difficult to overcome. Therefore, to reduce environmental pollution and protect Dong Nai River and to improve the inefficient use of land, SND has to research, analyze and propose appropriate solutions. The big challenge, which has already taken the shape of a project, is how to transform BH1 IZ by changing land use purpose to meet the needs of SND and local Government. The company wants to change land use purpose from land for industrial park into land for urban development. So, given a new planning, BH1 IZ will become a commercial, service area and modern residential area. The new project is a housing development project. One of the most important things is to find an optimal solution to relocate factories from BH1 IZ. There is no precedent for such a project in Viet Nam. In an effort to transform an old industrial zone into a commercial, service area and modern residential area (below collectively referred to as housing area development project - grade I project) to decrease environment pollution as well as meet the requirements for the growth of SND and all factories in BH1 IZ, SND try to prepare a business plan which serves as a blueprint for developing a new project. Moreover, this business plan enables the company for securing financing and for sustaining its growth. Finally, it can attract lenders and investors who will provide needed capital. |