HAI PHONG – The coastal road project in the Hai Phong – Thai Binh section is scheduled to open to traffic in early 2021, but only 35% of the volume has been completed so far.

The investment project to build a coastal road covering Hai Phong – Thai Binh section will be 29.7 km long, with 4 motorized lanes, and 2 non-motorized lanes, with a total investment of more than 2,460 billion VND in the form of Building –Operation – Transfer (BOT). In which, the section through Hai Phong city is 20.7 km long and the section through Thai Thuy district (Thai Binh) is 9 km long.

The project was started in May 2017, according to the plan it was expected to open to traffic in early 2021. However, the project has only completed 35.4% of the construction and installation (equivalent to VND 872 billion of the contract value).

The bridge over the Van Uc river with a length of nearly 2km belongs to the Hai Phong – Thai Binh coastal road project, is under construction on the side of Kien Thuy district, while the other side of Tien Lang district has not been constructed due to problems of site clearance and investors ’capital shortage. Photo: Giang Chinh

Mr. Huynh Van Hieu, Project Manager of Hai Phong Coastal Road Investment Co., Ltd., explained that it was difficult for businesses to access loans from banks and was facing problems in site clearance. As many as 1,523 households and organizations whose properties are in the area of land have basically agreed to receive compensation. However, some households have not received the compensation, even some have but they still want to make a petition about the compensation price and the origin of the land.

For example, 4 aquaculture households in Tien Lang district located in the clearance area for construction of the Van Uc river bridge have temporarily received more than VND 2.7 billion since 2019, but they have not yet handed over the site to the contractor for construction, even they are still claiming.

The first part of one kilometer long has been covered with asphalt. Photo: Giang Chinh

From the investor’s perspective, Mr. Do Anh Tuan, Director of Hai Phong Construction Investment Project Management Board, said that the project did not reach the signed schedule due to the dependence on bank loans. When the bank tightened the loan, the contractor almost stopped the construction.

Inspecting the construction of the route in mid-March, the Secretary of the Hai Phong’s Party Committee Tran Luu Quang affirmed that the coastal road project is an important traffic route related to the development of regional connectivity and national security. He required localities to focus on clearing land and arranging resettlement for affected people.

It is expected that the project will be completed and put into operation from June 2023, after the parties agree to sign the contract appendix in March 2022.

Source: VnExpress

Under unprecedented difficult conditions, Vietnam has overcome great challenges from the Covid-19 pandemic with the achievement of attracting FDI which is considered the “bright spot” of the national economic picture. By September 2021, Vietnam has 1,212 new projects, with a total newly registered capital of nearly 12.5 billion USD (up 20.6% over the same period last year). In which, Phu Tho contributed 900 million USD/31 billion USD from foreign investment, ranking 14th out of 63 provinces and cities. Phu Ha Industrial Park is considered a key industrial zone of the province, a potential destination for domestic and foreign investors.

In March 2022, Future Innovation Co., Ltd. decided to expand in Phu Ha Industrial Park. This is an enterprise of the Hong Kong electronics group, which has been operating a factory since November 2021. In less than 6 months of operation, the company quickly decided to lease more land in the same area to develop production. On an expanded area of 55,000m2, with a total investment of 30 million USD, Innovation will produce bluetooth wireless headsets and other products related to audio and electronic equipment, and supply them to Apple Corporation. This choice has shown the trust of the business to the investor, as well as affirmed the prestige of Viglacera Corporation.

Phu Ha Industrial Park has synchronous and modern technical infrastructure and services.

Started in 2015, Phu Ha Industrial Park has become a reliable address, continuously receiving attention from domestic and foreign investors, especially electronic and high-tech enterprises with a coverage of leasing land over more than 100ha. Among the investors, some can be mentioned such as company BYD Electronic (International) (China) pours 269 million USD into investment capital in manufacturing, assembling and repairing electronic devices for iPad; Asentec company (Korea) manufactures wheel speed sensors, power cables and components and spare parts for Hyundai cars; ActRo Vina company (Korea) manufactures and processes camera components for mobile phones and other electronic devices to export and supply to Samsung, LG, etc.; INOUE Rubber company (Japan) owns the tire brand IRC Tire with more than 90 years of experience in manufacturing all kinds of tubes and tires for two-wheeled vehicles including bicycles, motorbikes, wheelchairs, and 7 factories worldwide, supplying products to Honda Vietnam, Yamaha Vietnam and other assemblers, with a total investment of 60 million USD.

Factory in Phu Ha Industrial Park

Despite the complicated developments of the Covid-19 epidemic, the industrial zones developed by Viglacera are still the destinations of more than 40 domestic and foreign investors, successfully attracting large production and technology corporations, large corporations multinational companies such as Wiselead, Foxconn (Taiwan), BYD (China), Hyosung, Amkor (Korea), etc. with investment capital up to billions of USD, total leased area of more than 220 hectares. In response to optimistic forecasts about the economic recovery in 2022, Viglacera Corporation has been constantly making efforts to focus on site clearance and infrastructure improvement in order to promptly meet the land demand for industrial production and welcome the next wave of investment.

Phu Ha Industrial Park (Viglacera) with a scale of 350 hectares, is located in Phu Tho town, easily connected to Noi Bai – Lao Cai highway through Interchange (IC) 9, belongs to the economic corridor Hai Phong – Hanoi – Lao Cai – Kunming (China), near Ho Chi Minh road, convenient to move to Noi Bai airport (45 minutes), Hanoi center (1 hour) and surrounding areas. The industrial park has completed synchronous and modern technical and service infrastructure. In the future, the social housing area located right next to the industrial park is expected to provide 698 apartments, housing for 2,500 workers in the industrial park. With the above advantages, Phu Ha Industrial Park becomes one of the top choices for businesses wishing to expand production in the North.

For more information, please contact: Viglacera Real Estate Company – Phone: (+84) 888 25 22 88 | Website: www.viglaceraip.com

Under the direction and sponsorship of the Vietnam Real Estate Association, Reatimes and VIRES successfully held the Ceremony of Honoring the Leading Real Estate Brand in 2021 – 2022 on March 15, 2022 in Hanoi.

The Ceremony of Honoring the Leading Real Estate Brand in 2021 – 2022 recognizes and honors the steadfast spirit and development strategy that adapts to the new circumstances of Vietnamese real estate enterprises. These are also excellent brands with many contributions, known as “leading birds” driving the real estate market to develop more transparently, healthily, stably, and reach new heights. At the same time, the Honor Ceremony also inspires real estate businesses to make efforts to build and create modern and civilized living spaces in each Vietnamese city.

Mr. Pham Hong Hai – Deputy Director of Trade Department on behalf of Viglacera Corporation – JSC is honored to receive this award.

Despite being significantly affected by the Covid-19 pandemic from the beginning of 2020, the industrial zones developed by Viglacera are still the destination of more than 40 domestic and foreign investors over the past time, they are also the choices of manufacturing corporations. and large technology, multinational corporations such as Foxconn (Taiwan), BYD (China), Hyosung, Amkor (Korea), … with investment capital up to billions of USD and a total leased area of more than 220 hectares.

Currently, Viglacera has been investing in 11 industrial zones in Vietnam and one economic zone in Cuba, attracting 15 billion USD in FDI from more than 300 domestic and foreign enterprises, creating jobs for tens of thousands of workers in the local area. Thanks to the advantage of being located in many provinces, its industrial zones bring diverse choices for investors, meeting the needs of each business. Facing optimistic forecasts about economic recovery in 2022, Viglacera Corporation will continue to focus on site clearance and infrastructure improvement to promptly meet land demand for the production industry and be in a good position to welcome the next wave of investment.

The program collects vote for the leading brand in Vietnam’s real estate market in the period of 2021- 2022 from 500,000 readers on the Reatimes.vn system and a direct, independent and objective voting Council, including journalists who are in charge of economic – construction – real estate sector; leading experts in economics – law – planning – architecture – construction – real estate in Vietnam.

Singapore topped the foreign investors’ list with more than $1.7 billion, up 59.3 percent year-on-year in the in the first two months of this year.

Workers at a garment factory in Ho Chi Minh City in 2021. Photo by VnExpress/An Phuong

It was followed by South Korea with over $1.4 billion, down 12 percent, and China with nearly $538 million, down 29.3 percent, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

As of Feb. 20, 51 countries and territories had pledged to invest a total amount of $5 billion in the country; 91.5 percent of the same period last year.

FDI disbursement in the first two months rose 7.2 percent against last year to $2.7 billion, the FIA said.

The investments in the first two months this year had gone into 17 industries, with the processing and manufacturing industry dominating with an intake of over $3.13 billion, or nearly 63 percent of the total registered capital.

The real estate segment ranked second with a total capital of more than $1.5 billion, making up more than 30 percent of the total.

Among large-scale FDI projects registered in the first two months are one to build urban service infrastructure for the Vietnam Singapore Industrial Park in the northern province of Bac Ninh, which attracted an additional capital of $941 million, and the Samsung Electro-mechanics Vietnam Company project with an increased investment capital of $920 million in the northern province of Thai Nguyen.

Ho Chi Minh City continues to lead in overall FDI attraction with more than $52.8 billion, accounting for 12.6 percent of the total, followed by its neighbor Binh Duong Province with nearly $37.8 billion and Hanoi with nearly $37.6 billion.

Source: VnExpress