New Northern Vietnam industrial cluster an investment ‘magnet’: authorities

Tien Cuong II Industrial Cluster will be a "magnet" for investments in various fields including light industry, mechanics, supporting industries, information technology and hi-tech businesses, Hai Phong city authorities say.

Work on the VND700 billion ($27.5 million) project kicked off on Saturday in the city’s Tien Lang district with Tien Phat Industrial Zone Infrastructure Investment JSC as its developer.

The 50 hectare project boasts a convenient location that offers easy connection with northern provinces and cities. It lies adjacent to National Highway 10, just 30 kilometers from downtown Hai Phong and the Cat Bi international airport; less than 40 km from seaports; and 3 km from Hanoi-Hai Phong Expressway

It is expected to attract investments in a variety of industries, including: mechanics; electronics, refrigeration, telecommunications, IT and high technology; localization for high-tech industries; production of electrical equipment and building materials; and light industries like food processing, garment, footwear, stationery and agricultural product processing.

The project received in-principle approval from the municipal People's Committee in January 2022 and had its detailed 1/500 scale plan passed by Tien Lang district about four months later. Its environmental impact report was approved by the Ministry of Natural Resources and Environment on December 5, 2023.

On December 22, 2023, the Hai Phong People's Committee allowed Tien Phat Industrial Zone Infrastructure Investment JSC to lease land to implement the project’s first phase; and 128,125 square meters of land handed over to the developer on February 5, 2024.

The project obtained a land use right certificate for its first phase from the municipal Department of Natural Resources and Environment on March 8, 2024; and a construction permit form the city’s Department of Construction on April 26, 2024.

An announcement on the city’s portal says the project is one of the industrial cluster infrastructure construction and business projects being implemented right after the Hai Phong Master Plan for the 2021-2030 period with vision until 2050 was approved by the Prime Minister after several adjustments were made.

At the groundbreaking ceremony, Tien Phat signed in-principle land lease contracts with secondary investors to deploy production and business investment activities at the new industrial cluster.