Date set for relocation of Bien Hoa 1 Industrial Zone in southern Vietnam

By Vietnam News
Tue, June 11, 2024 | 9:32 pm GMT+7

A date has been set to relocate factories and businesses in the Bien Hoa 1 Industrial Zone in the southern province of Dong Nai, according to Vo Tan Duc, acting Chairman of the provincial People's Committee.

The Bien Hoa 1 Industrial Zone in Dong Nai province, southern Vietnam. Photo courtesy of Vietnam News Agency.

The Bien Hoa 1 Industrial Zone in Dong Nai province, southern Vietnam. Photo courtesy of Vietnam News Agency.

Phase 1 of the relocation is expected to be completed by the end of November this year, freeing up approximately 75.1 hectares in the southern part of the zone, which could affect up to 14 factories and businesses.

Phase 2 is expected to be completed before the end of next year.

The provincial authority had earlier approved a plan to transform the industrial zone into a new urban service-residential center.

All relocation and compensation must be finished by December 31, 2025, Duc said.

According to the committee, the industrial zone's relocation could cost the province up to VND7.5 trillion ($294.8 million), including compensation for nearby residential areas.

The Bien Hoa 1 Industrial Zone, first established in 1963, was among the first industrial zones in the country and is home to 76 factories and businesses.

Comments (0)
  • Read More
Clear M&A potential in Vietnam clouded by legal gray areas: ONE-VALUE exec

Clear M&A potential in Vietnam clouded by legal gray areas: ONE-VALUE exec

Vietnam's mergers and acquisitions (M&A) market has been vibrant in recent years but some legal gray areas that dishearten foreign investors, Japanese included, have prevented its full exploitation.

Executive Talk - Fri, November 8, 2024 | 7:55 am GMT+7

Mega Long Thanh airport should have one more runway in first phase: cabinet

Mega Long Thanh airport should have one more runway in first phase: cabinet

The Long Thanh International Airport in Vietnam's southern province of Dong Nai should have a second runway added to its first phase of construction, increasing the airport’s capacity, says the government.

Infrastructure - Thu, November 7, 2024 | 9:57 pm GMT+7

Thailand receives over 29 mln foreign tourists in Jan-Oct

Thailand receives over 29 mln foreign tourists in Jan-Oct

Thailand welcomed more than 29 million foreign tourist arrivals in the first 10 months of this year, generating THB1.35 trillion ($39.3 billion) in tourism revenue, according to Tourism and Sports Minister Sorawong Thienthong.

Southeast Asia - Thu, November 7, 2024 | 8:01 pm GMT+7

Vietnam inflation up 3.78% in first 10 months

Vietnam inflation up 3.78% in first 10 months

Vietnam's consumer price index (CPI), an indicator of inflation, went up 0.33% from September to October and 3.78% in the first 10 months of this year, the General Statistics Office (GSO) said Wednesday.

Economy - Thu, November 7, 2024 | 7:50 pm GMT+7

Vietnam agricultural machinery firm VEAM plans 50.35% dividend payout for 2023

Vietnam agricultural machinery firm VEAM plans 50.35% dividend payout for 2023

State-controlled Vietnam Engine and Agricultural Machinery Corporation (VEAM) has announced its 2023 dividend payout plan – a cash dividend rate of 50.35%, equivalent to VND5,035 ($0.2) per share.

Companies - Thu, November 7, 2024 | 5:42 pm GMT+7

New realty-related laws enhance investor confidence in Vietnam: Savills

New realty-related laws enhance investor confidence in Vietnam: Savills

The recent enactment of new real estate-related laws is augmenting investor confidence in Vietnam’s stable and transparent legal environment, with foreign investors showing strong interest in diverse segments, says a Savills Vietnam executive.

Real Estate - Thu, November 7, 2024 | 5:09 pm GMT+7

Vietnam invites China railway builder to join project linking 2 nations, begin in 2025

Vietnam invites China railway builder to join project linking 2 nations, begin in 2025

Vietnamese Prime Minister Pham Minh Chinh has urged China Railway Construction Corporation (CRCC) to join the railway project linking the two nations, with an aim to start the construction in 2025.

Infrastructure - Thu, November 7, 2024 | 3:21 pm GMT+7

Vietnamese tea undervalued by lack of innovation: national association chairman

Vietnamese tea undervalued by lack of innovation: national association chairman

Tea growers in Vietnam primarily concentrate on meeting immediate production and sales agreements; and not enough of “polishing or innovating,” which undervalues Vietnamese tea, says Hoang Vinh Long, chairman of the Vietnam Tea Association.

Economy - Thu, November 7, 2024 | 2:28 pm GMT+7

Korean Air announces new country manager for Vietnam

Korean Air announces new country manager for Vietnam

Korean Air has appointed Kyoung Hee Kang as its new regional manager for Vietnam as the Korean airline is looking to serve the increasing demand of travelers between the two countries.

Companies - Thu, November 7, 2024 | 1:08 pm GMT+7

Northern Vietnam province okays Taiwan’s $120 mln fan manufacturing investment

Northern Vietnam province okays Taiwan’s $120 mln fan manufacturing investment

Thai Binh province has licensed Taiwanese-invested Yuan Long International Limited's $120 million project to manufacture ceiling fans and fan components.

Industries - Thu, November 7, 2024 | 11:59 am GMT+7

China’s Comac partners with Vietjet to operate homemade planes in Vietnam

China’s Comac partners with Vietjet to operate homemade planes in Vietnam

China’s state-owned aerospace manufacturer Comac has been partnering with Vietjet to operate its self-made airplanes in Vietnam as the former looks to tap the Southeast Asian country’s fast-growing aviation market.

Companies - Thu, November 7, 2024 | 11:43 am GMT+7

Japan firms ready to build $2 bln northern Vietnam LNG power plant in 2025

Japan firms ready to build $2 bln northern Vietnam LNG power plant in 2025

Truong Thanh Vietnam Group and Japanese firms Tokyo Gas and Kyuden International are meeting deadlines to kick off construction of the $2-billion LNG Thai Binh power plant in northern Vietnam in Q3/2025.

Energy - Thu, November 7, 2024 | 11:29 am GMT+7

Vietnam President to attend APEC in Peru, first overseas trip since inauguration

Vietnam President to attend APEC in Peru, first overseas trip since inauguration

Vietnamese State President Luong Cuong will pay an official visit to Peru and attend the 2024 APEC Economic Leaders’ Week in Lima from November 12-16, marking his first overseas trip since taking office late last month.

Politics - Thu, November 7, 2024 | 10:19 am GMT+7

How Trump's presidency could affect Vietnam's economy, stock market

How Trump's presidency could affect Vietnam's economy, stock market

Donald Trump’s election as the United States' 47th President could have a strong impact on Vietnam's economy and stock market, say some Vietnamese analysts.

Economy - Thu, November 7, 2024 | 9:36 am GMT+7

Vietnam hydropower firms see robust Q3 profit growth

Vietnam hydropower firms see robust Q3 profit growth

Hydropower developers in Vietnam posted strong year-on-year profit growth in Q3/2024, thanks to higher electricity consumption and favorable hydrological conditions.

Finance - Thu, November 7, 2024 | 8:03 am GMT+7

Thai rice exports to face stiffer competition from India

Thai rice exports to face stiffer competition from India

Thailand’s rice exports are expected to face stiffer competition as India has removed export restrictions and taxes, allowing unlimited rice exports, according to Charoen Laothammatas, president of the Thai Rice Exporters Association.

Southeast Asia - Wed, November 6, 2024 | 10:51 pm GMT+7