Malaysia's ParkCity eyes mega industrial-urban complex in Long An

By Tri Duc
Fri, September 9, 2022 | 9:29 am GTM+7

Malaysia's ParkCity Property Holdings has proposed a 2,600ha industrial and urban complex in southern Vietnam’s Long An province.

Representatives of the corporation presented their investment proposal at a recent meeting with provincial authorities.

ParkCity executive chairman Datuk Seri Yaw Chee Siew said that the complex in the northern part of Ben Luc district would feature a 36-hole golf course; a universities and urban area; a high-tech agricultural and industrial zone; an eco-urban and eco-industrial area; and an innovation hub.

Long An Chairman Nguyen Van Ut said local authorities would take ParkCity's ideas as reference in provincial planning.

An illustration of part of ParkCity's proposed industrial and urban complex project in Long An province, southern Vietnam. Photo courtesy of the group.

An illustration of part of ParkCity's proposed industrial and urban complex project in Long An province, southern Vietnam. Photo courtesy of the group.

ParkCity Property Holdings is also exploring investment opportunities in real estate and infrastructure development in the central city of Danang.

Chee Siew had told the coastal city’s leaders late June that the group was surveying locations in the city and saw a lot of development potential.

“We are exploring opportunities in properties and infrastructure development. We hope to receive support from municipal authorities to facilitate investments because we have experience in developing synchronous urban areas,” he said.

ParkCity Property Holdings has a diverse investment portfolio including real estate, commerce, education, forestry, infrastructure, clean water factories, wastewater treatment, and automobile distribution.

In Vietnam, the group has invested in the 77-hectare urban complex ParkCity Hanoi in the capital city's Ha Dong district with 7,000 apartments and villas.

Vietnam attracted $31.15 billion in registered foreign direct investment (FDI) in 2021, up by 9.2% year-on-year, according to the Ministry of Planning and Investment. Of this, Long An lured $3.84 billion, the highest after the northern coastal city of Hai Phong.

A major FDI project licensed in the province last year was the Singapore-backed Long An LNG-to-power plant 1 and 2, with a total registered capital of over $3.1 billion.

So far, Long An has attracted 2,113 domestic investment projects worth VND251,614 billion ($10.68 billion) and 1,124 FDI projects worth $9.3 billion, according to Huynh Van Son, director of the provincial Department of Planning and Investment.

Comments (0)
  • Read More
Vietnam welcomes 1.87 mln foreigners, South Koreans in the lead

Vietnam welcomes 1.87 mln foreigners, South Koreans in the lead

Vietnam welcomed 1.87 million foreign visitors in the first nine months of the year, up 16.4 times year-on-year, with South Korea and the U.S. leading the pack.

Travel - Sat, October 1, 2022 | 8:26 pm GTM+7

US firm Molex expands Vietnam facility with solar panel installation

US firm Molex expands Vietnam facility with solar panel installation

Molex, a U.S. manufacturer of electronic, electrical and fiber optic connectivity systems, has expanded its manufacturing facility in Hanoi with solar panel installation.

Industries - Sat, October 1, 2022 | 6:46 pm GTM+7

EVN, Trungnam Group hold talks on solutions for solar power usage deadlock

EVN, Trungnam Group hold talks on solutions for solar power usage deadlock

State-owned Vietnam Electricity (EVN) has asked Trungnam Group to put the 172-megawatt capacity portion without a pricing mechanism of its 450 MW solar farm in Ninh Thuan into the competitive power generation market.

Energy - Sat, October 1, 2022 | 3:54 pm GTM+7

Danish firm Spectre opens third Vietnam factory in An Giang

Danish firm Spectre opens third Vietnam factory in An Giang

Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in An Giang province Friday, the company’s third in Vietnam.

Industries - Sat, October 1, 2022 | 3:06 pm GTM+7

Foreign firm accountant gets death sentence in $9.6 mln corruption case

Foreign firm accountant gets death sentence in $9.6 mln corruption case

A Dong Thap province court on Friday handed a death sentence to Nguyen Trung Thanh, chief accountant of Filipino-invested Pilmico Vietnam, on corruption charges.

Society - Sat, October 1, 2022 | 2:43 pm GTM+7

Vietnam’s nation brand valued at $431 billion

Vietnam’s nation brand valued at $431 billion

Vietnam has seen the third biggest brand value gain over the course of the pandemic in absolute terms, up $184 billion year-on-year to $431 billion in 2022, says London-based Brand Finance.

Economy - Sat, October 1, 2022 | 11:22 am GTM+7

Jail term reduced to 3 years for former deputy health minister

Jail term reduced to 3 years for former deputy health minister

An appeal court in Hanoi has reduced the jail term for former deputy minister of health Truong Quoc Cuong to three years, from the four years ruled by an instance court in May.

Society - Sat, October 1, 2022 | 11:05 am GTM+7

Fever cools, townhouse, villa segment turns lethargic in major cities

Fever cools, townhouse, villa segment turns lethargic in major cities

Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.

Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7

AES gets ministerial nod for 2,250 MW LNG power project in Binh Thuan

AES gets ministerial nod for 2,250 MW LNG power project in Binh Thuan

American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.

Energy - Fri, September 30, 2022 | 9:24 pm GTM+7

Coro Energy operates pilot rooftop solar power project in Vietnam

Coro Energy operates pilot rooftop solar power project in Vietnam

Coro Energy has completed commissioning of its Vietnam rooftop solar pilot project, the UK-based energy firm announced Friday.

Energy - Fri, September 30, 2022 | 6:59 pm GTM+7

VN-Index pulls one back after five losing sessions

VN-Index pulls one back after five losing sessions

Vietnam’s benchmark VN-Index reversed a consecutive five session decline with a six-point gain Friday to close at 1,132 points.

Finance - Fri, September 30, 2022 | 6:30 pm GTM+7

Vietnam’s GDP growth to keep driving southern industrial property market: report

Vietnam’s GDP growth to keep driving southern industrial property market: report

The industrial and logistics market in Ho Chi Minh City, Dong Nai, Binh Duong, Long An, and Ba Ria-Vung Tau will continue to grow in 2022-2023 thanks to Vietnam’s resilient economic expansion, according to Cushman and Wakefield.

Real Estate - Fri, September 30, 2022 | 3:32 pm GTM+7

Vietnam needs bonded warehouses for US cotton imports

Vietnam needs bonded warehouses for US cotton imports

Building a Vietnam bonded warehouse for U.S. cotton would benefit both countries, Vietnam Textile and Apparel Association (Vinatas) chairman Vu Duc Giang said Friday.

Industries - Fri, September 30, 2022 | 3:19 pm GTM+7

Thai giant Central Retail eyes mall investment in Binh Thuan

Thai giant Central Retail eyes mall investment in Binh Thuan

Thailand's Central Retail is seeking opportunities to build malls and supermarkets in Binh Thuan province.

Industries - Fri, September 30, 2022 | 3:05 pm GTM+7

Vietnam Q3 unemployment lowest in 3 years

Vietnam Q3 unemployment lowest in 3 years

Vietnam's unemployment rate dropped 1.7 percentage points year-on-year to 2.28% in the third quarter, the lowest since 2020.

Economy - Fri, September 30, 2022 | 11:38 am GTM+7

Looking up HCMC’s highest high-end homes

Looking up HCMC’s highest high-end homes

Housing projects like The River Thu Thiem, Lumière Riverside, Grand Marina Saigon, and The Opera Residence are home to the most expensive penthouses in Ho Chi Minh City.

Real Estate - Fri, September 30, 2022 | 9:36 am GTM+7