Binh Dinh attracts another $20 million project; Hai Phong breaks ground on a $45 million steel sheet factory.
Binh Dinh attracts additional foreign investment projects totaling $20 million; Groundbreaking ceremony for the $55 million Logicross Hai Phong project at Nam Dinh Vu Industrial Park…
Those are two of the most noteworthy investment news stories from the past week.
Hai Phong: Groundbreaking ceremony for the $45 million Viet Phap steel sheet manufacturing plant.
On the morning of November 12th, the groundbreaking ceremony for the construction of the Vietnam-France Steel Sheet Manufacturing Plant No. 2, with a total investment of 45 million USD, was held at the Nam Dinh Vu Industrial Park, Hai Phong City.
The factory covers a total area of 75,000 m2, with a total investment of nearly 45 million USD for phase 1; it has a production capacity of up to 350,000 tons of steel sheet products per year. The project is invested by Vietnam-France Steel Sheet Joint Stock Company and constructed by Hai Long Construction and Installation Joint Stock Company.
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| The Nam Dinh Vu Industrial Park boasts superior transportation advantages, being located near a major seaport, which helps shorten shipping times, optimize logistics costs, and increase the competitiveness of Vietnamese products when reaching international partners. Photo: Thanh Son |
Ms. Mai Minh Nguyet, Chairwoman and General Director of Viet Phap Steel Joint Stock Company, stated that the factory will apply the most modern production technology from international partners, ensuring high quality standards, efficiency, and environmental friendliness. Upon completion, the factory will contribute not only to providing quality products but also to promoting local economic development and creating many new job opportunities.
Located in the Nam Dinh Vu Industrial Park, the factory boasts superior transportation advantages, being close to major seaports and national connecting routes. This helps shorten shipping times, optimize logistics costs, and increase the competitiveness of Vietnamese products when reaching international partners.
Speaking at the groundbreaking ceremony, Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, congratulated Viet Phap Steel Joint Stock Company on its achievements in recent times. Viet Phap Steel chose the Nam Dinh Vu Industrial Park of Sao Do Group, an industrial park with good infrastructure connections, excellent electricity and other facilities, and close proximity to the port. Hai Phong City and the Management Board are committed to supporting and creating the most favorable conditions for businesses to operate and develop their production and business activities with the best results and satisfaction.
The Head of the Hai Phong Economic Zone Management Board requested the investor and contractor to focus human and material resources to bring the project into operation as quickly and efficiently as possible, ensuring safety during construction. The Hai Phong Economic Zone Management Board will provide support and resolve difficulties during implementation to ensure the project becomes operational soon.
Further information at the groundbreaking ceremony, Mr. Le Trung Kien stated: Hai Phong is planning to establish a new coastal economic zone in the South of Hai Phong with an area of approximately 20,000 hectares – a 3.0 generation ecological economic zone, multi-sector, focusing on high-tech industries, seaports, modern logistics, and smart cities, serving as a hub for the city to participate in regional and global value and supply chains. In particular, Hai Phong proposes the establishment of a free trade zone with many specific mechanisms and policies, promising to create a large, dynamic, attractive, and potentially lucrative development space for the city.
On behalf of the main contractor, Mr. Pham Anh Tien, Chairman of Hai Long Construction Joint Stock Company, stated: "With our capabilities and experience, we will successfully complete this project according to the quality and schedule as committed to the investor, Viet Phap Steel and Sheet Metal Joint Stock Company."
Binh Dinh attracts additional foreign investment projects with a total investment capital of 20 million USD.
Representatives from the Binh Dinh Provincial Economic Zone Management Board stated that the unit has just granted an investment certificate to HGQ Asia Pte (headquartered in Singapore) to implement the TnB Vietnam Fashion Products Manufacturing Plant Project.
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| Leaders of Binh Dinh province visit a livestock feed production factory in Hoa Hoi Industrial Park (illustrative photo). Photo: Trang Le. |
The project is being implemented at Lot A2, Hoa Hoi Industrial Park, Cat Hanh Commune, Phu Cat District. The project is divided into two phases: Phase 1 covers an area of over 3.2 hectares, with a production capacity of 1.5 million products per year and an investment of over 198 billion VND; Phase 2 covers an area of over 4.7 hectares, with a production capacity of 5.5 million products per year and an investment of over 297 billion VND.
Phase 1 is expected to officially commence production and business operations in October 2026; the entire project is expected to be operational in November 2027.
According to the Department of Planning and Investment of Binh Dinh province, in early November 2024, in addition to the project of HGQ Asia Pte, the locality attracted two domestic investment projects to Phu My district: the GA Apparel garment processing factory project of GA Apparel Company with a total investment of 3.2 billion VND; and the factory producing rattan-look plastic furniture, wooden furniture, and pellets by Nam Viet General Trading and Manufacturing Company Limited in Dai Thanh Industrial Cluster with a total investment of over 38.6 billion VND.
Cumulatively from the beginning of the year to date, Binh Dinh has attracted 57 investment projects with a total registered investment capital of VND 10,926.4 billion; including 54 domestic projects and 3 foreign investment projects. Of these, the industrial sector accounts for the majority with 46 projects.
Proposal to provide 1.87 trillion VND in support for the construction of a connecting road between Dai Ngai Bridge and National Highway 60.
The People's Committee of Soc Trang province has recently sent a document to the Prime Minister regarding the investment and construction of a road section connecting Dai Ngai bridge with National Highway 60 within the territory of Soc Trang province.
Specifically, the People's Committee of Soc Trang province requested the Prime Minister to provide early support for the locality to invest in a road connecting the Dai Ngai Bridge to the existing National Highway 60. This road will be approximately 14 km long, with 2 lanes, and classified as a Class III road in a flat area (similar to the Dai Ngai Bridge Project).
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| Construction of Dai Ngai 2 Bridge underway (Photo: Xuan Luong). |
The estimated investment cost for constructing the road from Dai Ngai Bridge to National Highway 60 is approximately 1,870 billion VND, sourced from the surplus of the Dai Ngai Bridge construction project on National Highway 60 in Tra Vinh and Soc Trang provinces.
According to Mr. Tran Van Lau, Chairman of the People's Committee of Soc Trang province, investing in this road will contribute to maximizing the effectiveness of the Dai Ngai Bridge construction project on National Highway 60; the Chau Doc - Can Tho - Soc Trang expressway construction project (phase 1); and the National Highway 91B renovation and upgrading project (South Hau River road).
The project also improves regional connectivity in the southeastern part of Soc Trang province and connects with Bac Lieu and Tra Vinh provinces, which will receive investment in the future, creating new development spaces and maximizing the potential and strengths of Soc Trang province in particular and the Ca Mau peninsula region in general.
The Dai Ngai bridge project on National Highway 60, connecting Tra Vinh and Soc Trang, has been approved by the Prime Minister for investment with an implementation period from 2022 to the end of 2026.
The project, approximately 15.14km long, is divided into two main sections: Dai Ngai 1 cable-stayed bridge and Dai Ngai 2 bridge, with a total investment of over 7,962 billion VND from the state budget.
Currently, the Dai Ngai 2 bridge section, the route and related structures have completed the technical design, contractor selection, and are being simultaneously implemented on-site; expected to be completed in 2028.
XGIMI begins construction on a $13 million projector manufacturing project in Nam Dinh.
XGIMI is a high-tech company from China specializing in the design and manufacture of smart projectors and high-performance laser TVs.
The company's products are available in over 100 countries, and are particularly popular in major markets such as the US and Europe. Currently, XGIMI owns a network of over 5,000 retail stores worldwide, affirming its leading position in the projection technology industry.
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| Representatives of the investor and contractor performed the groundbreaking ceremony for the construction of the XGIMI Vietnam Technology Co., Ltd. projector manufacturing investment project – Phase I. |
The project in Nam Dinh is part of XGIMI's production expansion strategy.
According to the plan, the project will complete the commencement procedures by the second quarter of 2025. The basic construction phase is expected to run from the second quarter of 2025 to the second quarter of 2026. Following that, the company will install machinery and conduct trial operations in the second and third quarters of 2026, before officially commencing operations in the third quarter of 2026. Upon completion, the factory will have a production capacity of 400,000 products per year.
According to information from the Management Board of Industrial Parks in Nam Dinh province, the project has a total investment capital of 13 million USD and utilizes an area of 56,694.5 m2 in My Thuan Industrial Park. This is a 100% foreign-owned investment, with a project operating period of 47 years, starting from the date of issuance of the Investment Registration Certificate. The investor enjoys many attractive preferential policies such as exemptions and reductions in corporate income tax, import and export taxes, and support policies such as exemptions and reductions in land rent and usage fees.
In addition, the project also applies an accelerated depreciation policy and increases the deductible expenses when calculating taxable income, creating favorable conditions for investors to implement the project effectively.
The construction of the XGIMI factory in Nam Dinh contributes to promoting local economic development and is expected to be a project with a positive impact, making Nam Dinh a bright spot for attracting high-tech investment in Vietnam.
LG increases its investment by $1 billion, bringing foreign investment in Hai Phong to a surge of $3.5 billion.
Hai Phong City has just awarded new investment certificates and increased capital certificates for projects with a total capital of over 1.8 billion USD, raising the total foreign investment capital by the end of November 2024 to 3.5 billion USD, equivalent to 140% of the annual plan.
Among the projects for which Hai Phong recently granted investment adjustment certificates, there is the LG Group's (South Korea) expansion project in Trang Due Industrial Park, which increased its investment by an additional US$1 billion, bringing the total investment to US$5.65 billion. Also in Trang Due Industrial Park, the Heesung investor's (South Korea) project also increased its capital in this round, with an additional US$125 million, raising the total capital to US$279 million.
At the DEEP C Industrial Park Complex, the Industrial Park Infrastructure Business Project increased its capital by an additional $169 million, bringing the total capital to $286 million; the USI Group's project (Taiwan) increased its capital from $215 million to $290 million (an increase of $75 million).
In addition, the project of Chinese investor Moons' Industries in VSIP Industrial Park increased its investment by $69 million; the Vietnam Advance Film Material (China) project in DEEP C 2A Industrial Park increased its investment by $60 million, bringing the total investment to $158 million; and the Jeil Logistics 1 project of a South Korean investor in Nam Dinh Vu Industrial Park increased its capital by $21 million.
Regarding newly approved projects, the joint venture between Hai Phong Port Joint Stock Company, Terminal Investment Limited (TIL), and MSC Group (Switzerland) has a total investment of US$156 million. The companies established the joint venture to operate international container berths No. 3 and 4 of the Hai Phong International Gateway Port Project at Lach Huyen, with a cargo throughput of 1.1 million TEU/year.
In addition, the Sembcorp Integrated Hub Hai Phong IV project (Singapore) in DEEP C Industrial Park has a total investment of US$56 million. The Smart Logistics Service Co., Ltd. project in Hai Phong International Gateway Port Industrial Park has an investment of US$20 million. The Hoda Strategic Holdings Private project (China) has a total investment of US$10 million in DEEP C Industrial Park. The DAP – Vinachem Joint Stock Company project, with an investment of VND 626 billion, aims to invest in depth, improve the quality of phosphoric acid, and produce MAP fertilizer on a scale of 60,000 tons/year.
The implementation of these projects in Hai Phong will contribute to bringing many new, cutting-edge technologies from around the world into industrial production, helping to improve the skills of workers, forming research and development centers, and generating budget revenue.
According to Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, the city is committed to providing the best incentives for investors and is ready to prepare all favorable conditions in the investment environment. In the coming time, Hai Phong will develop the Southern Coastal Economic Zone with a scale of more than 20,000 hectares, oriented as a 3.0 generation ecological economic zone, multi-sector, focusing on high-tech industries, seaports, modern logistics and smart cities.
In particular, Hai Phong has proposed the establishment of a free trade zone with many specific mechanisms and policies, promising to create a large, dynamic, attractive, and potentially lucrative development space for the city. From here, Hai Phong and other localities will form a chain of coastal economic zones, an important driving force in the socio-economic development of the entire Red River Delta region.
According to the Hai Phong Economic Zone Management Board, from January 2021 to the present, Hai Phong City has attracted $14.5 billion in investment, equivalent to 97% of the investment attraction plan for the 2021-2025 term, and 74% of the 1993-2020 period ($19.6 billion), averaging $3.6 billion per year. It is projected that by the end of 2024, the city will attract over $4.5 billion in foreign investment (180% of the annual plan).
To date, Hai Phong has attracted 1,000 foreign investment projects from 40 countries and territories, with a total capital of US$32.2 billion, mainly concentrated in the manufacturing and processing industries in industrial parks and the Dinh Vu - Cat Hai Economic Zone. Hai Phong has become a hub for many large investors, deeply involved in global value chains, notably LG Group and SK Group.
An investment of 12,728 billion VND will be made to upgrade and expand the road section from Ca Mau City to Dat Mui.
The Ho Chi Minh Highway section from Ca Mau City to Ca Mau Cape (of which the section from Ca Mau City to Nam Can town coincides with National Highway 1) is included in the plan for developing the expressway network with a plan for implementation before 2030.
The Ministry of Transport has recently sent a document to the Prime Minister proposing investment in upgrading and expanding National Highway 1 and the Ho Chi Minh Highway from Ca Mau City to Dat Mui, Ca Mau province.
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| The road from Ca Mau City to Dat Mui will soon receive significant investment to develop the local economy and tourism. |
According to the Ministry of Transport, the investment projects to upgrade and expand National Highway 1 and the Ho Chi Minh Highway from Ca Mau City to Dat Mui, Ca Mau province, are not included in the medium-term public investment plan for the period 2021-2025, and are not yet on the list of projects, therefore the investment capital source has not been determined, and there is insufficient basis to submit them to the Prime Minister for approval of the investment policy.
Currently, the Ministry of Transport has basically completed the pre-feasibility study reports for the projects. To expedite the investment implementation of these projects, meet transportation needs and local aspirations, contribute to socio-economic development, ensure national security and defense, and guarantee traffic safety, the Ministry of Transport requests the Prime Minister to assign the Ministry of Planning and Investment to take the lead, with the coordination of relevant ministries and agencies, in carrying out the necessary procedures to balance and allocate capital for the projects from the contingency fund of the medium-term public investment plan for the period 2021-2025 or other legitimate sources, and report to the competent authority for consideration and decision.
To facilitate the appraisal process of the pre-feasibility study reports for the projects, the Ministry of Transport will continue to take the lead in organizing the implementation, while the People's Committee of Ca Mau province will cooperate in finalizing the pre-feasibility study reports and submit them to the competent authorities for appraisal and approval as soon as the funding source is identified.
The project's managing agency will be considered and decided by the Prime Minister when approving the investment policy for the projects.
It is known that the Ho Chi Minh Highway section from Ca Mau City to Ca Mau Cape, Ca Mau province (of which the section from Ca Mau City to Nam Can town coincides with National Highway 1) is included in the plan for developing the expressway network with a plan for implementation before 2030.
Currently, the section from Ca Mau City to Nam Can is being developed to a scale equivalent to a Class IV road in the delta region (roadbed and surface width of 9/8 m), with a crushed stone and asphalt surface; approximately 12 km of the section through Nam Can town is being developed to a scale equivalent to a Class III road in the delta region (roadbed and surface width of 25/21 m and 12/11 m).
The remaining section from after Nam Can town to Dat Mui is developed on a scale equivalent to a Class V road in the delta (roadbed and surface width 7.5/6 m), with a crushed stone and asphalt surface, and many sections are frequently flooded during high tides.
In implementing Resolution No. 102/NQ-CP dated August 9, 2022, of the Government at the regular Government meeting in July 2022 held online with localities, the Ministry of Transport assigned the Ho Chi Minh Highway Project Management Board to organize the preparation of a pre-feasibility study report for the investment project to upgrade and expand National Highway 1 from Ca Mau City to Nam Can and the Ho Chi Minh Highway from Nam Can to Dat Mui.
According to the research results, the National Highway 1 expansion project, specifically the section from Ca Mau City to Nam Can, has a research length of approximately 47.5 km. The investment scale meets the standards of a Class III road in the plains; the cross-sectional width is 20.5/19.5 m (specifically, the section through Ca Mau City and Nam Can Town is 23/19 m), comprising 4 lanes for motorized vehicles and 2 lanes for mixed traffic.
The project also involves expanding existing bridges to match the roadbed width, with the Tan Duc bridge being newly constructed.
With the investment scale as described above, the preliminary total investment for the Project is 7,142.1 billion VND, of which land clearance costs are 1,048 billion VND (land clearance has basically been completed in the previous phase). The form and source of investment are expected to be public investment, from the state budget.
The project to upgrade and expand the Ho Chi Minh Highway section from Nam Can to Dat Mui has a research length of approximately 58.5 km. The planned investment is based on a design that meets the standards of a Class III road in the plains, with a cross-sectional width of 12/11 m. Some sections passing through urban areas will be invested in according to the current situation and local planning; the road surface will be asphalt concrete for the section from Km0 to Km12, and asphalt paving for the remaining sections. The bridges will be designed as permanent structures using reinforced concrete, with bridge widths matching the roadbed width.
The preliminary total investment for the project is approximately VND 5,586.7 billion, of which VND 842.7 billion is for land clearance (land acquisition was essentially completed in the previous phase); investment form and source: Public investment, state budget funds.
If the investment capital is secured in November 2024, the Ministry of Transport will immediately proceed with submitting the project for appraisal and approval of the investment policy.
Assuming the Prime Minister approves the investment plan in February-March 2025, the Ministry of Transport expects to be able to complete and put the projects into operation by the end of 2028.
Groundbreaking ceremony for the $55 million Logicross Hai Phong project at Nam Dinh Vu Industrial Park.
On the afternoon of November 19th, the groundbreaking ceremony for the Logicross Hai Phong project took place at the Nam Dinh Vu Industrial Park, Hai Phong City. This is the second project of Mitsubishi Estate Group (Japan) – the project investor in Vietnam.
Logicross Hai Phong boasts a strategic location near the port area of Hai Phong City, the largest trade gateway in Northern Vietnam. The project enjoys convenient transportation connections to key transportation networks in the leading logistics center of Northern Vietnam.
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| Rendering of the Logicross Hai Phong project. Photo: Logicross Hai Phong |
Spanning 150,968 m2, Logicross Hai Phong offers approximately 85,768 m2 of modern, pre-built warehouse space, comprising two independent warehouse blocks. The project, with a total investment of US$55 million, is owned by Mitsubishi Estate Group and is expected to be operational in Q3 2025. Built to international standards, the project meets tenant needs, complies with EDGE Advanced certification requirements, and integrates sustainability features to optimize tenant operating costs and minimize environmental impact.
Speaking at the groundbreaking ceremony, Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, said: “This is a key project, part of the city's economic development strategy. This project promises to make a significant contribution to the development of logistics infrastructure, warehousing and goods storage services, meeting the increasing needs of businesses in the region and internationally. At the same time, the project will also create many job opportunities and contribute positively to the socio-economic development of the locality. The presence of Logistics Hai Phong once again affirms Hai Phong's investment attractiveness, as well as the confidence of investors in the business environment here.”
Furthermore, the Hai Phong Economic Zone Management Board is committed to working alongside the investor, creating the most favorable conditions for the project to be implemented on schedule, ensuring quality and efficiency.
Logicross Hai Phong is expected to become a key logistics hub in the northern gateway region, serving a diverse range of goods across various sectors. Tenants at Logicross Hai Phong will benefit from a convenient location and the flexibility to choose floor space that suits their business needs, optimizing operational efficiency. The project provides sufficient power capacity to support automation systems and ample space for flexible storage.
Logicross Hai Phong is equipped with 96 automated lifting platforms, with a clear height of 10.5 m and a load capacity of 3 tons/m2. The warehouse is fitted with an ESFR sprinkler system according to TCVN standards, 3 forklift charging points in each leased unit (2 in the warehouse, 1 in the loading/unloading area), a 150 lx LED lighting system, and an electrical power of 25 VA/m2. A 24/7 security system with high-level monitoring capabilities also helps ensure the safe and continuous operation of the supply chain.
At the groundbreaking ceremony, Mr. Takashi Kagamoto, General Director of Mitsubishi Estate Vietnam Co., Ltd., emphasized: “Thanks to its advantageous geographical location and preferential policies from the Government, FDI investment in Hai Phong has experienced strong growth in recent years. This has created a rapid increase in logistics demand from domestic and international manufacturing industries. This has led to a significant increase in the demand for high-quality logistics infrastructure to meet the development requirements of the economy. Following the start with the Nam Thuan Logistics project in Long An province, Mitsubishi Estate is aiming to expand its presence in the North with the Hai Phong Logistics project. This is part of the group's long-term strategy to meet the growing demand for logistics infrastructure in Vietnam.”
Specifically in Hai Phong, Mitsubishi Estate has chosen the Nam Dinh Vu Industrial Park of Sao Do Group – an industrial park with good infrastructure, excellent electricity and other facilities, and close to Hai Phong Port. Along with the continuous expansion of Sao Do Group, it is predicted to attract new manufacturing industries, leading to increased demand for logistics in the area surrounding the project.
Earlier, on October 18th, Mitsubishi Estate also held the groundbreaking ceremony for the Nam Thuan Logistics project in Long An province. This project in Long An officially marks Mitsubishi Estate's entry into the Vietnamese logistics infrastructure market.
An additional 189 billion VND has been allocated to the Bim Son – Nga Son – Hoang Hoa Industrial Zone road project.
The People's Committee of Thanh Hoa province has just approved the adjustment of the project for the road connecting Bim Son Industrial Park to the coastal road section from Nga Son to Hoang Hoa, increasing the budget from 900 billion VND to over 1,089 billion VND.
According to the Thanh Hoa Provincial People's Committee, adjusting the project is necessary because during implementation, changes in state policies increased land clearance costs, and fluctuations in the prices of fuel, materials, labor, and construction machinery increased construction costs, leading to exceeding the total investment approved by the Provincial People's Committee.
The initial total investment for the Project, approved by the Chairman of the Provincial People's Committee in Decision No. 490/QD-UBND dated February 5, 2021, was 900 billion VND. After adjustment, the total investment is over 1,089 billion VND.
In addition, the People's Committee of Thanh Hoa province also adjusted the capital source and capital structure. Public investment capital managed by the province, sourced from project costs and compensation costs for land clearance in Ha Trung district, has been allocated 718.6 billion VND, of which 716.6 billion VND comes from the central government budget and 2 billion VND from the provincial budget.
The investment capital for land clearance in the section passing through Nga Son district includes: 120 billion VND from the provincial budget; 80 billion VND from increased revenue and savings in the provincial budget; and the remaining amount will be covered by the Nga Son district budget.
The remaining funds from the Bim Son town budget will cover the compensation costs for land clearance for the project within the Bim Son town area.
The timeframe for allocating funds for the project to build a road from Bim Son Industrial Park to the coastal road section from Nga Son to Hoang Hoa has been adjusted according to the project's implementation schedule.
The road project connecting the Bim Son Industrial Park to the coastal road section between Nga Son and Hoang Hoa will be operational in 2025.
An investment of over 2.975 billion VND is being made in the construction of infrastructure for the Dong Van VI Industrial Park in Ha Nam province.
Deputy Prime Minister Tran Hong Ha signed Decision No. 1426/QD-TTg dated November 19, 2024, on the investment policy for the construction and operation of infrastructure in Dong Van VI Industrial Park, Ha Nam province.
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| Illustrative image. (Source: Internet) |
Approval of the investment policy for the project to build and operate infrastructure in Dong Van VI Industrial Park.
With the approval of Deputy Prime Minister Tran Hong Ha, Ha Nam International Port Joint Stock Company is the investor of the Project.
The project is being implemented in Tien Ngoai commune, Yen Nam commune, and Tien Son commune, Duy Tien town, Ha Nam province, covering an area of 250 hectares, with a total investment capital of VND 2,975.581 billion.
The Deputy Prime Minister requested the Ministry of Planning and Investment to be responsible for the assigned tasks of appraising investment policies for projects and implementing state management of industrial parks in accordance with the law on investment and related laws.
The relevant Ministries are responsible for the content of the appraisal of investment policies for projects within their functions and duties, as stipulated by investment law and related laws.
The People's Committee of Ha Nam province is responsible for the truthfulness and accuracy of the information, data reported, and assessment contents as prescribed by law; receiving opinions from ministries; organizing the development and implementation of land acquisition, compensation, support, resettlement, land use conversion, and land leasing plans for the project in accordance with the documents approved by competent authorities regarding the scale, location, and progress of the project; ensuring there are no disputes or complaints regarding the right to use the project site; supplementing the lost area of specialized rice-growing land or increasing the efficiency of rice-growing land use as prescribed in point b, clause 4, Article 182 of the Land Law.
In cases where public assets are located within the project area, it is requested that the regulations on the management and use of public assets be followed, ensuring that no state assets are lost. The allocation and leasing of small, narrow plots of land managed by the State (if any) must meet the criteria stipulated in Article 47 of Government Decree No. 102/2024/ND-CP dated July 30, 2024, detailing the implementation of certain provisions of the Land Law.
Strictly fulfill the responsibilities of state management agencies on investment in supervising and evaluating investment projects as stipulated in point a, clause 2 and point b, clause 3 of Article 70 of the Investment Law, and Articles 72 and 93 of Government Decree No. 29/2021/ND-CP dated March 26, 2021, regulating the procedures for appraising nationally important projects and supervising and evaluating investments.
The People's Committee of Ha Nam province directs the Management Board of Industrial Parks of Ha Nam province and relevant agencies to monitor and supervise the implementation of the project, ensuring it is in accordance with the requirements for protecting and promoting the value of cultural heritage and the conditions stipulated by law on cultural heritage.
Simultaneously, the investment registration agency shall fulfill its responsibility to supervise and evaluate investment projects under its authority to issue Investment Registration Certificates as stipulated in point b, clause 2 and point c, clause 3 of Article 70 of the Investment Law, and Articles 71 and 94 of Decree No. 29/2021/ND-CP; guide, inspect, and supervise investors in implementing the approved zoning plan for the Dong Van VI Industrial Park, and complete construction procedures in accordance with the law on construction.
Ha Nam International Port Joint Stock Company (the investor) is legally responsible for the legality, accuracy, and truthfulness of the project dossier and documents submitted to competent state agencies; comply with legal regulations in implementing the project according to this Decision; invest in and construct infrastructure systems according to the approved Dong Van VI Industrial Park construction plan; bear all risks, costs, and full responsibility as stipulated in Articles 47 and 48 of the Investment Law in case of violations of investment law and land law…
Investment in Aeon Mall Can Tho shopping center, capital of 5,400 billion VND.
The Vice Chairman of the People's Committee of Can Tho City, Duong Tan Hien, has just signed a Decision approving the investment policy and simultaneously approving the investor, Hoa Lam Can Tho Investment and Development Joint Stock Company, to implement the Aeon Mall Can Tho Commercial and Service Center Project for tourism and office business (abbreviated name: Aeon Mall Can Tho Commercial Center).
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| The Aeon Mall Can Tho shopping center is expected to open at the end of 2027. (Illustrative image) |
The project's objective is to invest in, construct, manage, operate, and develop a comprehensive shopping center and provide related services, including: food and beverage services, a children's play area (excluding electronic games with prizes), and leasing of completed, constructed, installed, and decorated stalls, shelves, and retail spaces.
Renting and subleasing premises, warehouses, halls, and other facilities within the shopping mall.
Real estate consulting services; real estate management services; installation services; finishing and completion services for construction projects; construction of buildings; exercising the right to import, export, wholesale distribution (without establishing wholesale establishments) and retail distribution (without establishing retail establishments) of goods as prescribed by Vietnamese law…
Regarding land use scale, the project has a total land area of approximately 84,998.5 m2 that is expected to be transferred, and the state-managed land interspersed within the project does not meet the conditions and criteria for separation into an independent project according to Decision No. 19/2024/QD-UBND dated October 11, 2024 of the People's Committee of the city, with an area of approximately 3,871.57 m2 (actual data based on the results of measurements and decisions of competent authorities on land allocation and leasing in accordance with regulations).
The total floor area of the entire project is approximately 195,073 m2 (excluding the basement), of which: Phase 1 (shopping center 1) has a floor area of approximately 113,921 m2; Phase 2 (shopping center 2 and parking building) has a floor area of approximately 81,152 m2.
The project has an investment capital of VND 5,400 billion; of which, VND 1,080 billion is contributed by investors and VND 4,320 billion is mobilized capital.
The project's operating period is 50 years from the date of issuance of the Decision approving the investment policy and simultaneously approving the investor.
The project will be implemented in Binh Nhut area, Long Hoa ward, Binh Thuy district, Can Tho city.
Regarding the project implementation schedule, Phase 1 (Shopping Center 1): It is expected that all relevant administrative procedures will be completed, construction will commence, and the facility will be completed and put into operation within 36 months from the date of issuance of the Decision approving the investment policy and simultaneously approving the investor.
Phase 2 (Shopping Center 2 and parking building): Within 10 years after Phase 1 opens, subject to the local and regional economic conditions.
The Prime Minister has approved an increase in state funding for the Dong Dang – Tra Linh expressway project to 9,800 billion VND.
The Prime Minister has just signed Decision No. 1436/QD-TTg adjusting the investment policy for the Dong Dang (Lang Son province) - Tra Linh (Cao Bang province) expressway construction project under the PPP form, which was approved in Decision No. 20/QD-TTg dated January 16, 2023.
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| Construction is underway on tunnel number 2 on the Dong Dang – Tra Linh expressway. |
Accordingly, the preliminary adjusted total investment for Phase 1 of the Project is VND 14,114.781 billion; the exact total investment for Phase 2 will be calculated once the start date is determined.
The Prime Minister also decided to adjust the investment capital structure for Phase 1 of the Project. Accordingly, the capital mobilized by the investor (equity capital, loans, and other legal sources of capital) is VND 4,314.781 billion; the state budget contribution is VND 9,800 billion (previously VND 6,580 billion).
State funding will include capital to support the construction of works and infrastructure systems within the project, as well as compensation for land clearance, resettlement support, and support for the construction of temporary structures for the entire project.
Of this, central government budget capital is VND 5,720 billion (including VND 2,500 billion allocated in the medium-term public investment plan of the state budget for the period 2021-2025 and VND 3,220 billion for the period 2026-2030); local government budget capital is VND 4,080 billion.
In addition, the project's implementation timeline has been adjusted, with Phase 1 running from 2020 to 2026; the operational and toll collection period for capital recovery is approximately 22 years and 4 months. Phase 2 will be implemented after 2026.
Investors can use their own capital and capital raised from other legal sources to invest in the project; they will be recouped through closed toll collection along the entire expressway.
The project fees will be collected in accordance with legal regulations and will ensure a balance of interests between the state, users, and investors. The state budget's contribution to the project will be implemented in accordance with Articles 69 and 70 of the PPP Law.
The projected toll rates on the Dong Dang – Tra Linh expressway, using a closed toll collection system, are as follows: 2,000 – 2,860 – 3,520 – 5,710 – 7,710 VND/km for five vehicle categories. Every three years, the competent state agency, in coordination with relevant agencies, will conduct an assessment to review and adjust the road usage fees for the project.
The Prime Minister has authorized the Project to apply the special mechanism under Appendix III (road projects passing through localities with one locality as the managing agency) and Appendix IV (projects applying the policy on exploiting mineral resources for common construction materials) of Resolution No. 106/2023/QH15 dated November 28, 2023, of the National Assembly.
Other provisions remain unchanged according to Decision No. 1212/QD-TTg dated August 10, 2020 and Decision No. 20/QD-TTg dated January 16, 2023 of the Prime Minister.
The Prime Minister assigned the People's Committee of Cao Bang province full responsibility for the information and data in the report proposing the adjustment of the investment policy for the Project; to organize the preparation of the adjusted feasibility study report in accordance with regulations and incorporate the appraisal opinions of the inter-ministerial appraisal council; and to be fully responsible for selecting the investor within its authority and reviewing the investor selection process when the Project's investment policy is adjusted, ensuring strict compliance with the law.
The People's Committee of Cao Bang province is responsible for coordinating with the Ministry of Planning and Investment to review the contents of the contract negotiated and signed between the parties, and to adjust the BOT project contract in accordance with the PPP Law and guiding decrees, ensuring a balance of interests between the State, the investor, and the people.
According to Mr. Ho Minh Hoang, Chairman of Deo Ca Group (the leading enterprise in the consortium of investors), as of mid-November 2024, land clearance for the Dong Dang – Tra Linh expressway project has reached 87.4 km/93.35 km (equivalent to 93.6%), including 41.1/41.55 km (equivalent to 99%) in Cao Bang province and 46.3/51.8 km (equivalent to 90%) in Lang Son province.
With the spirit of "overcoming the sun and rain," "eating quickly, sleeping urgently," and working in "3 shifts and 4 teams," investors, project enterprises, and construction contractors mobilized 1,020 personnel and 357 pieces of machinery and equipment, deploying 36 simultaneous teams to access and organize construction day and night as the land sections were handed over.
Currently, the project has disbursed 1,429 billion VND from various sources, including state budget funds, investor-mobilized capital, and 120 billion VND in credit funds.
The projected total output to be completed in 2024 is 1,010 billion VND, with total disbursement of funds reaching 2,000 billion VND, laying the foundation for the determined goal of opening the route in 2025.
Clarifying the investment cost of the Quy Nhon – Pleiku Expressway Project, worth 35,940 billion VND.
The Ministry of Transport has been requested to coordinate with local authorities to assess and clarify the preliminary total investment cost and the difference in investment costs for the Quy Nhon - Pleiku expressway project between the two sections located in Binh Dinh and Gia Lai provinces.
This is one of the points included in document No. 9505/BKHĐT – PTHTĐT recently sent by the Ministry of Planning and Investment to the Ministry of Transport for comments on the investment plan for the Quy Nhon – Pleiku expressway project passing through Gia Lai and Binh Dinh provinces.
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| Illustrative image. |
According to the Ministry of Planning and Investment, in the Road Network Planning for the period 2021-2030, with a vision to 2050, the Quy Nhon - Pleiku expressway project is expected to be 180 km long, starting at Nhon Hoi port, Binh Dinh province and ending at Pleiku city, Gia Lai province, with a scale of 4 lanes, and investment progressing after 2030.
Currently, the Ministry of Transport and local authorities are proposing to invest in the Quy Nhon – Pleiku expressway project, with a length of 123 km, starting in An Nhon town and with an investment timeline before 2030, which is inconsistent with the plan approved by the Prime Minister in Decision No. 1454/QD-TTg dated September 1, 2021.
Therefore, the Ministry of Planning and Investment requests the Ministry of Transport to clarify the basis and necessity, and report to the Prime Minister on the discrepancies between the project's investment scale and the approved plan; and to clarify whether the managing agency for the project will be the Ministry of Transport or the People's Committees of Gia Lai and Binh Dinh provinces, as a basis for determining responsibility for completing the project's pre-feasibility study report.
According to the current review and update, the preliminary total investment for the Quy Nhon – Pleiku expressway project is 35,940 billion VND, with a length of approximately 123 km and a planned scale of 4 lanes; the investment cost per kilometer is approximately 292 billion VND.
According to the Ministry of Planning and Investment, this investment is quite large compared to some East-West expressways connecting the Central Coast with the Central Highlands, such as: the Khanh Hoa - Buon Ma Thuot expressway with a length of approximately 117.5 km, a 4-lane road in phases with a total investment of VND 21,935 billion, an investment cost of approximately VND 187 billion/km; the Gia Nghia - Chon Thanh expressway with a length of approximately 128.8 km, a complete 4-lane road with a total investment of VND 25,540 billion, an investment cost of approximately VND 198 billion/km; and the Nha Trang - Da Lat expressway with a length of approximately 99 km, a complete 4-lane road with a total investment of VND 25,058 billion, an investment cost of approximately VND 253 billion/km.
According to a report submitted by the People's Committees of Gia Lai and Binh Dinh provinces to the Ministry of Planning and Investment in May 2024, the section passing through Binh Dinh province has a length of 57.6 km, with a total estimated investment of approximately 18,200 billion VND and an average investment cost of about 317 billion VND/km; the section passing through Gia Lai province has a length of 85.6 km, with a total estimated investment of approximately 19,373 billion VND and an average investment cost of about 226 billion VND/km.
Therefore, the Ministry of Planning and Investment proposes that the Ministry of Transport coordinate with local authorities to further assess and clarify the preliminary total investment cost, the difference in investment costs of the Project between the two sections in the two provinces and other routes, as a basis for reporting to the Prime Minister to submit to the National Assembly for approval of the investment policy according to regulations when the conditions for implementation are met.
In addition, the People's Committees of Gia Lai and Binh Dinh provinces reported that "with a scenario where the state's capital support is capped at 50% of the total investment as stipulated in the PPP Law, the project does not guarantee financial efficiency as required."
"For the project to be financially viable and have a payback period of approximately 25 years, 18 years, and 10 years, the state's capital contribution to support the project would need to account for 76% to 88% of the total investment. Therefore, investing through the PPP method is inefficient and difficult to implement."
According to the Ministry of Planning and Investment, in the aforementioned analysis, the People's Committees of Gia Lai and Binh Dinh provinces only provided a preliminary report and lacked a detailed assessment and analysis of the input and output data and parameters of the PPP project, which would have been necessary to provide a basis for reporting to the Prime Minister.
Therefore, the Ministry of Planning and Investment requests the Ministry of Transport to coordinate with Gia Lai and Binh Dinh provinces to analyze, clarify, and provide specific information and data to prove the above-mentioned statement; and at the same time, to unify the information and data between the Ministry's report and the reports of the two localities (the percentage of state capital participation to ensure the project's financial viability) to demonstrate the appropriateness and necessity of converting the investment form from PPP to public investment.
The Ministry of Transport was also advised to only propose investment using public funds when it is impossible to mobilize investment capital for the Project through other investment methods and when there is a possibility of balancing the funding from the state budget to invest in the Project, ensuring feasibility, including considering the option of decentralizing to each locality to proactively use the state budget funds managed by the locality to invest in the sections of the route passing through their management area, in order to reduce pressure on the central budget in the period 2026 - 2030.
Ho Chi Minh City proposes allocating 1,850 billion VND from the state budget to invest in the Phan Dinh Phung Gymnasium.
The Ho Chi Minh City Department of Culture and Sports has just submitted report No. 5955/BC-SVHTT to the City People's Committee, the City People's Council, and the Department of Planning and Investment regarding the pre-feasibility study report for the construction project of the Phan Dinh Phung Sports Center in District 3 (hereinafter referred to as the Phan Dinh Phung Gymnasium Project).
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| The land intended for the Phan Dinh Phung stadium has been left unused for many years in the heart of Ho Chi Minh City – Photo: Le Toan |
According to the report, the project is being developed on a 14,417 m2 plot of land formerly occupied by the Phan Dinh Phung Stadium in District 3, Ho Chi Minh City.
The project is planned to construct 3 above-ground floors and 3.5 basement floors, with a maximum total floor area (including the underground section) of 59,679 m2 and a building height of 28 m.
The Phan Dinh Phung Gymnasium will accommodate training and competition needs for 13 sports such as volleyball, basketball, fencing, badminton, etc. The grandstand is designed with 4000-5000 seats.
The project has a total estimated investment of 1,850 billion VND, funded by the city's budget.
The project implementation period is from 2024 to 2029. In 2024, the pre-feasibility study report will be prepared and submitted for approval. In 2025, an architectural design competition (if any) will be held; the feasibility study report will then be prepared and submitted for approval.
In 2026, the design drawings and cost estimates will be prepared, reviewed, and approved; the contractor will be selected; and construction will commence. Construction will continue in 2027; the project will be completed and put into operation in 2028. The project will be finalized and settled in 2029.
With the progress schedule proposed by the Ho Chi Minh City Department of Culture and Sports, it is very difficult for the project to commence before April 30, 2025, as directed by the Chairman of the City People's Committee.
Previously, at the end of April 2024, the Ho Chi Minh City People's Committee decided to halt the implementation of the Phan Dinh Phung Stadium Project under the BT (Build-Transfer) model and switch to investment using the city's budget.
However, to date, the termination agreement with the investor has not been finalized because the two parties have not agreed on a compensation plan for the business.
The Phan Dinh Phung Gymnasium project, located on a prime 1.44-hectare plot of land in the heart of District 3, Ho Chi Minh City, received investment approval under the BT (Build-Transfer) model in 2010 and project approval in 2016.
In June 2018, the Ho Chi Minh City People's Committee signed an investment agreement with the joint venture of the Compensation and Resettlement Corporation and Phat Dat Real Estate Corporation to implement the project.
However, before the project could even begin construction, the BT investment model was abolished under the Law on Public-Private Partnership (PPP Law), which came into effect at the beginning of 2021. Since then, the project has been stalled and unable to proceed.
Due to delays, the total investment for the project increased from 988 billion VND to 2,215 billion VND. At the end of April 2024, the Ho Chi Minh City People's Committee issued a decision to stop implementing the project under the BT (Build-Transfer) model and switch to investment using state budget funds.
Over 2.3 trillion VND invested in Binh Thuan's industry.
The Management Board of Industrial Parks in Binh Thuan Province recently awarded investment registration certificates to the Neotek Vietnam Industrial Park project at Ham Kiem II – Bita's Industrial Park and the project for a factory producing flooring and natural wood furniture products at Tan Duc Industrial Park.
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| Binh Thuan Province grants investment certificates to two projects worth 2,300 billion VND (Illustrative image: Tan Duc Industrial Park) |
The Neotek Vietnam Industrial Plant project of NeoSCM Limited has a registered investment capital of over VND 2,200 billion (equivalent to USD 88 million), implemented on an area of 13,238 hectares in Ham Kiem II Industrial Park, Ham Thuan Nam district.
According to Mr. Phung Huu Cu, Head of the Binh Thuan Industrial Parks Management Board, Neotek Vietnam is a factory producing brake discs for various types of motor vehicles with a production capacity of approximately 120,000 tons of products per year. The project will be implemented in the fourth quarter of 2024 and completed and put into production and business in 2027.
Meanwhile, the Aurawood Binh Thuan Co., Ltd.'s natural wood flooring and furniture manufacturing plant project, with a registered investment capital of over 100 billion VND, is being implemented on an area of 1.5 hectares in Tan Duc Industrial Park, Ham Tan district. This plant has a production capacity of 50,000 m2 of wood flooring and 6,000 m3 of other types of wood per year. The project is scheduled to commence investment in the fourth quarter of 2024 and be completed and put into production and business in 2026.
Evaluating these projects, Mr. Cu affirmed that they are large-scale projects with considerable capacity in sectors that the province is encouraging investment in; moreover, these projects are also part of the development strategy and investment attraction plan for the coming period, and are consistent with the Binh Thuan Provincial Planning for the period 2021-2030, with a vision to 2050.
Da Nang grants licenses to 60 new FDI projects.
According to the Da Nang Department of Planning and Investment, as of the end of October 2024, the city had attracted $210.055 million in foreign direct investment (FDI). This included the approval of 60 new projects with a registered capital of $203.684 million.
These new projects bring the total number of FDI projects in Da Nang City to 1,012, with a total investment capital of nearly US$4.55 billion. In addition, there are currently 40,984 businesses and branches/representative offices operating in Da Nang with a total registered capital of VND 255,462.3 billion.
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| Da Nang city welcomed a large influx of FDI capital in 2024. |
Da Nang city also attracted 34,694.60 billion VND in domestic investment. This included the issuance of new investment policy decisions and investment registration certificates for 8 projects with a total investment capital of 26,945 billion VND; and the adjustment of investment policy approval decisions/investment certificates for 6 projects with an additional capital increase of 7,749 billion VND.
To date, Da Nang City has accumulated 380 domestic investment projects outside of industrial parks, high-tech parks, and information technology parks, with a total investment capital of 224,044 billion VND.
At the same time, there are 399 domestic projects located in industrial parks, high-tech parks, and information technology parks with an investment capital of 34,780 billion VND.
According to the Da Nang Department of Planning and Investment, the city has implemented comprehensively and decisively Government Resolution No. 02/NQ-CP on key tasks and solutions to improve the business environment and enhance national competitiveness.
In particular, Da Nang is focusing on implementing the Da Nang City Planning for the period 2021-2030, with a vision to 2050, which has been approved by the Prime Minister.
Focus on removing difficulties and obstacles, accelerating procedures, and implementing key, large-scale projects; implement procedures to remove obstacles related to projects in order to unlock resources according to the "Plan to remove difficulties and obstacles related to projects".
Da Nang City has also actively implemented the activities of the Inter-sectoral Task Force on Investment Promotion and Support, reviewing and compiling the difficulties and obstacles of projects currently being promoted and supported in the city.
In addition, Da Nang also has many groups of policies to support businesses, including business support policies issued by the central government and the city's own support policies. To date, there are 15 business support policies in the city.
Da Nang city has stepped up its investment promotion activities, prioritizing the attraction of high-tech industries, focusing on semiconductor chip design technology, artificial intelligence technology, big data technology, digital technology, etc., anticipating the shift of foreign direct investment to Vietnam…
An advance payment of over 410 billion VND has been made for the upgrade project of National Highway 91 in Can Tho City.
The Chairman of the People's Committee of Can Tho City, Tran Viet Truong, has just signed a Decision on advancing capital for the project to upgrade and expand National Highway 91 (section from Km0 – Km7), Can Tho City, from local budget sources.
Accordingly, the People's Committee of Can Tho City allocated 410.161 billion VND in advance capital for the project to upgrade and expand National Highway 91 (section from Km0 – Km7), with the City's Investment and Construction Project Management Board as the investor, from local budget sources.
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| The project starts at the intersection of Cach Mang Thang 8, Hung Vuong, Tran Phu, and Nguyen Trai streets, in Ninh Kieu district. |
Of this amount, revenue from land use fees in 2023 was VND 196.573 billion; and revenue from lottery sales in 2023 was VND 213.588 billion.
The People's Committee of Can Tho City assigns the Director of the Department of Planning and Investment, the Director of the Department of Finance, the Director of the Can Tho State Treasury, the Director of the City's Investment and Construction Project Management Board, and the heads of relevant agencies and units to implement the plan, ensuring strict adherence to regulations and full disbursement of allocated capital.
The project to upgrade and expand National Highway 91 (section from Km0 – Km7), Can Tho City, was approved by the People's Committee of Can Tho City in Decision No. 1644/QD-UBND dated July 23, 2024.
The project starts at Km0+000 at the intersection of Cach Mang Thang 8 – Hung Vuong – Tran Phu – Nguyen Trai roads, in Ninh Kieu district. The end point is at Km7 of National Highway 91, connecting with the Km7+00 – Km14+000 section (implemented by the Ministry of Transport) currently in operation, in Binh Thuy district.
In terms of project scale, the main section is an urban road with a design speed of Vtk = 60 km/h. The total length of the route is approximately 7,040m, including the Binh Thuy bridge section which is approximately 145m long (the length of the main bridge).
Regarding the road's cross-section, the sections from Km0+000 (beginning of the route) to approximately Km3+772.06 (connecting and widening to the road at the beginning of Binh Thuy Bridge) and from approximately Km4+496.15 (connecting and widening to the road at the beginning of Binh Thuy Bridge) to Km7+045.81 (end of the route, Km7 marker of National Highway 91), have a road cross-section width of Bnền = 37.0m.
The section of Binh Thuy Bridge, from Km3+832.06 (the bridge approach road on the Ninh Kieu district side) to Km4+435.83 (the bridge approach road on the Binh Thuy district side), has a bridge cross-section width of Bbridge = 28.0m.
The connecting sections are widened from approximately Km3+772.06 to Km3+832.06 and from Km4+435.83 to approximately Km4+496.15, with a widened cross-section from Bnền = 37.0m – 48.0m.
The route includes 11 at-grade intersections connecting to existing roads. The design incorporates smooth transitions to existing roads and includes a waiting lane for left-turn vehicles on the main route. The initial intersection at the beginning of the route has been redesigned from a roundabout to a divided lane system with traffic islands and traffic lights.
The project has a total construction investment of nearly 7,238 billion VND, sourced from the central and local government budgets. Of this, over 5,556 billion VND is allocated to compensation, support, and resettlement; over 1,302 billion VND to construction costs; and the remainder to equipment costs, project management costs, construction investment consulting costs, other costs, and contingency costs.
The project is expected to be completed in 2027. At that time, it will improve the efficiency of National Highway 91 section through Can Tho City, especially connecting the Tra Noc Port and Industrial Zone, Can Tho Airport with neighboring areas; reducing frequent traffic congestion and potential traffic accidents on the Km0 – Km7 section.
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