Vingroup to build 2 industrial clusters in Quang Ninh
Vingroup, Vietnam’s biggest private conglomerate, is applying to invest in two industrial clusters in Quang Ninh province in the two years 2022-2023.
The first is a 75ha cluster and the second 68ha, both in the south of Luc Lam river in Hai Hoa ward, Mong Cai town. The investor is Vinhomes Industrial Zone Investment JSC, a subsidiary of Vingroup.
Mong Cai authorities said they had already received Vingroup’s investment application. Bordering China, Mong Cai is about 178 km from Ha Long town, home to the UNESCO-heritage site Ha Long Bay, northern Vietnam.
The main business lines in the two industrial clusters will be manufacturing of auto parts, electronic components, consumer goods, machinery, raw materials and other industries.
Vingroup is Vietnam's biggest listed company by market cap. Photo by The Investor.
In October last year, Vingroup and Vinhomes JSC, a subsidiary of Vingroup, embarked on constructing a 4,110 ha urban area called Ha Long Xanh (Green Ha Long), one of the most sizeable urban development projects in Quang Ninh in recent years.
Of the 4,110 ha, about 1,186 ha is in Quang Yen town and the remaining 924 ha in Ha Long town. The project, adjacent to the Haiphong-Ha Long-Van Don expressway and capitalized at over VND232 trillion (nearly $10.2 billion), can accommodate 244,000 residents.
It is a multi-purpose urban complex with a coastal identity, including eco-resorts, a golf course and services.
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