Hai Phong city to turn Vu Yen island into eco-urban area
Hai Phong authorities have decided to turn the city's Vu Yen island into a high-end eco-urban area.
Under a plan approved in 2017, the whole island of 872 hectares and 48 hectares of the banks of Cam river would be shaped into a forest eco park, golf course, hotel, luxurious recreational and eco-residential complex, accommodating over 6,800 people,
According to an amended plan just approved by municipal authorities, the project will become a high-end eco-urban area. It will also cover part of May Chai ward in Ngo Quyen district to build a bridge over the Cam river, connecting roads as well as social housing.
Vu Yen island, surrounded by Bach Dang, Cam and Ruot Lon rivers, is located in Thuy Nguyen and Hai An districts, about a 10-minute drive from Hai Phong's center.
The project’s accommodation size will increase to 61,200 people with an adjustment that 20% of the total area will be allocated for building social housing. The original plan for two golf courses has been changed to just one, the 36-hole course that opened in 2016.
Per the Prime Minister’s decision, the project’s investment will triple to VND55.87 trillion ($2.4 billion). It will have 200 hectares for building 7,000 villas, 3,550 shophouses and 50 hectares for social housing.
The investor is Vingroup, Vietnam's largest private conglomerate.

The golf course on Vu Yen island, Hai Phong city, northern Vietnam. Photo courtesy of the golf course.
Also in July, Vinhomes, a Vingroup subsidiary, obtained approval from Hai Phong authorities to build a new urban area covering more than 240 hectares - 107 hectares in Duong Kinh district and 133 hectares in Kien Thuy district. It will spend more than VND23 trillion ($971.3 million) on the project.
Hai Phong has outperformed the nation’s H1/2023 economic expansion of 3.72% year-on-year with a growth of 9.94% in gross regional domestic product (GRDP), according to municipal data. The growth, the third-highest in the country, was driven by a 0.95% increase in agriculture-forestry-fisheries, 10.22% in industry-construction, and 11.12% in services.
- Read More
Vietnam's auto distributor TMT to launch $3.8 mln charging station firm
Vietnamese auto distributor TMT Motors has announced the establishment of a charging station company with a charter capital of VND100 billion ($3.84 million).
Companies - Thu, May 29, 2025 | 4:45 pm GMT+7
US's Excelerate Energy affirms intention to turn Vietnam into LNG hub for ASEAN
Excelerate Energy wants to make Vietnam a center for LNG distribution to the ASEAN region, president and CEO Steven Kobos told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Thursday.
Energy - Thu, May 29, 2025 | 4:33 pm GMT+7
Bourse shifts to heat up Vietnam's banking stocks
Several Vietnamese banks are planning to move their shares from the Unlisted Public Companies Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) this year, creating new momentum for banking stocks, long dubbed the “king” group.
Finance - Thu, May 29, 2025 | 2:48 pm GMT+7
Dairy giant TH Group proposes 5 projects in southern Vietnam
TH Group, one of Vietnam’s leading dairy producers, has proposed five major projects in the southern province of Binh Phuoc, in the fields of industrial production and urban area, golf course and high-tech agricultural production zone developments.
Industries - Thu, May 29, 2025 | 12:02 pm GMT+7
2024 cyberattack 'a blessing in disguise' for Vietnam's leading broker VNDirect: chairwoman
The cybersecurity breach that major Vietnamese brokerage VNDirect Securities encountered in 2024 was "an unfortunate incident, but also a lucky chance", chairwoman Pham Minh Huong said on Wednesday.
Finance - Thu, May 29, 2025 | 9:48 am GMT+7
Vietnam prioritizes smart, green seaport projects: Deputy PM
Vietnam encourages smart and green seaport investments, as technical barriers related to CO2 emissions and CO2 taxes begin to be tightened up globally.
Infrastructure - Wed, May 28, 2025 | 10:07 pm GMT+7
New Zealand, Vietnam expand timber trade partnership
New Zealand Forestry and Trade Minister Todd McClay on Tuesday unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the two countries' forestry sectors.
Companies - Wed, May 28, 2025 | 8:53 pm GMT+7
Norway vows to support Vietnam's energy transition
Norway is committed to supporting Vietnam’s energy transition, Norwegian Ambassador to Vietnam Hilde Solbakken said at a technical seminar held in Hanoi on Wednesday.
Companies - Wed, May 28, 2025 | 8:49 pm GMT+7
Thailand expected to become regional luxury retail hub
Thailand's luxury retail market is valued at $4.4 billion and projected to grow by approximately 5% annually through 2028, placing the country at the forefront of luxury retail in Southeast Asia and seventh in Asia-Pacific, according to property consultant CBRE Thailand.
Southeast Asia - Wed, May 28, 2025 | 8:44 pm GMT+7
Indonesia affirms role as leading global maritime hub
The Indonesia Maritime Expo, held as part of Indonesia Maritime Week 2025 on May 26-28, is the first large-scale maritime event in the country, aiming to affirm its role as a global maritime hub and promote the sustainable development of the region’s maritime industry.
Southeast Asia - Wed, May 28, 2025 | 8:41 pm GMT+7
Vietnam benchmark VN-Index hits 3-year high
The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), recorded a four-day gaining streak on Wednesday, rising 2.06 points, or 0.15%, to 1,341.87 points - the highest since May 2022.
Finance - Wed, May 28, 2025 | 6:37 pm GMT+7
HSBC launches sustainability improvement loan in Vietnam
HSBC has introduced its Sustainability Improvement Loan, a new financing solution tailored for businesses with annual turnover less than $550 million, in Vietnam, after launching it in 12 markets including the UK, Middle East, Hong Kong and Singapore last year.
Banking - Wed, May 28, 2025 | 6:15 pm GMT+7
CMA CGM, Saigon Newport to jointly develop deep-sea terminal in northern Vietnam
France's CMA CGM Group, a global player in sea, land, air, and logistics solutions, has signed a partnership agreement with Vietnam's Saigon Newport Corporation (SNP) to develop a deep-water terminal in Hai Phong city, northern Vietnam.
Infrastructure - Wed, May 28, 2025 | 5:01 pm GMT+7
Japan’s chipmaker Rapidus pledges semiconductor workforce training for Vietnam
Rapidus Corporation, a semiconductor manufacturer of Japan, has affirmed its readiness to train semiconductor workforce for Vietnam.
Economy - Wed, May 28, 2025 | 3:21 pm GMT+7
Corporate leaders offer insight into Vietnam's social housing investment landscape
Corporate leaders explained why they are reluctant to invest in social housing, despite the enormous demand in Vietnam, and recommended solutions. Kim Ngan reports.
Real Estate - Wed, May 28, 2025 | 2:49 pm GMT+7
France’s pharma giant Sanofi to transfer vaccine production tech to VNVC factory in southern Vietnam
Sanofi will transfer vaccine production technology to a Long An province-based factory of Vietnam Vaccine Joint Stock Company (VNVC), whose construction began on Tuesday.
Companies - Wed, May 28, 2025 | 11:54 am GMT+7