Investment

The Binh Duong Provincial People’s Committee has said that many businesses were registered and a great deal of foreign investment attracted in the southern province in the first nine months of this year. As of September 15, foreign investment stood at over $2.6 billion, representing 145 per cent of the annual plan and up 74 per cent year-on-year, including 54 new projects, 14 projects adding capital, and 134 instances of capital contributions and share purchases.

Construction of the second component project, “Flight management works”, at Long Thanh International Airport, with total investment of nearly VND3.5 trillion ($146 million), began sooner than expected on September 29. Main items are the Air Traffic Control Tower and auxiliary works, which are expected to be put into operation in 2025.

Four highway projects and the T3 passenger terminal project at Tan Son Nhat International Airport in Ho Chi Minh City and associated traffic routes were approved by the Prime Minister for addition to the list of key national projects and key transport projects. He also asked that expressway projects begin before June 30, 2023.

Central Da Nang city has a particularly favorable geographical location and is one of the coastal gateways in the East-West Economic Corridor, with the potential to become part of a global production and supply chain network due to connections with the Pacific and Indian Oceans. Under its plan, the city will have five main logistics centers on a total area of 229 ha. The most prominent is the Lien Chieu Port Logistics Center, which will be on 30 ha by 2030 and 69 ha by 2045.

The area in the eastern reaches of Hanoi now boasts a number of high-end projects from domestic and foreign investors with modern utilities and services. A number of world-famous brands such as Samsung and LG as well as many international schools have staked out a presence in the area, contributing to boosting housing demand and real estate investment. It is expected that the east of Hanoi will become a new center of Vietnam’s capital.

Hong Kong (China)’s Gaw NP Industrial Investment Fund cooperated with the Hai Long Construction Joint Stock Company on September 27 to hold a breaking ground ceremony for the GNP Nam Dinh Vu - Industrial Center project at the Nam Dinh Vu Non-tariff and Industrial Park in northern Hai Phong city. The project has total investment of $38.5 million and a construction area of some 170,000 sq m. Construction will take 300 days, with the first blocks of land expected to be leased in the second quarter of 2023.