northern port city of Hai Phong is making full use

Hanoi (VNA) – The northern port city of Hai Phong is making full use of its
advantages to lure investments, including those made by overseas Vietnamese.

The city has to date granted licences to 27 projects run by overseas Vietnamese with
a combined capital of over 100 million USD. The projects mainly involve in real
estate, manufacturing, garments, services and transport.

Many overseas Vietnamese said abundant, skilled labour force, lower living cost and
convenient transport system, including airport and seaport are the city’s
advantages.

Two overseas Vietnamese-invested real estate projects have been launched recently in
Hai Phong, namely the international overseas Vietnamese village ( 21 million USD) by
the Viet Anh Construction Investment and Development Co. Ltd, and the 450 billion
VND 250- bed international hospital by the Hoang Vu Co. Ltd.

The Hoang Vu Co. Ltd plans to invest 1 trillion VND to build first international
university in Hai Phong on an area of 50 hectares which will be capable of
accommodating about 600-700 students.

Chairman of the Viet Anh Construction Investment and Development Co. Ltd’s Nguyen
Tai Phuong, an overseas Vietnamese in the US, said the international overseas
Vietnamese village project is expected to call on Vietnamese expatriates to return
home and participate in local economic development.

Many OV businesspeople said apart from investment promotion programmes abroad, Hai
Phong needs to set up an overseas investment promotion centre managed by the
municipal People’s Committee in order to provide more assistance for investors,
helping increase foreign investment.-Enditem




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