14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

Hanoi to invest US$257 million in building Dong Anh Industrial Park

Anh Kiet

Apr 02, 2024 / 10:48 PM

Hanoi’s government has prepared and approved subdivision plans for the US$257-million industrial park in line with the law.

The Hanoi People's Committee announced on April 1 the development of the Dong Anh Industrial Park at a cost of VND6.34 trillion (US$257 million).

The 50-year project, approved by Deputy Prime Minister Le Minh Khai, will cover an area of 300 hectares in the communes of Nguyen Khe, Xuan Non, Thuy Lam and Lien Ha and the Dong Anh township.

Approximately $51.4 million of the investment will be contributed by the lead developer, Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex).

The deputy chairman of the Hanoi People's Committee, Nguyen Manh Quyen, handed over the investment registration certificate to Vinaconex. Photo: Hanoimoi

Tran Dinh Tuan, deputy general director of Vinaconex, said that Dong Anh Industrial Park has the advantage of being well-connected and aims to become a logistics center for Hanoi.

"Construction will take place in two phases, with the first covering 179.1 hectares and the second 120.35 hectares. Vinaconex is committed to focusing its resources and ensuring that the Dong Anh Industrial Park project is completed on time and with high quality," Tuan said.

Speaking at the conference, Deputy Chairman of the Hanoi People's Committee Nguyen Manh Quyen said that there are 10 industrial parks in the capital with a total area of more than 1,300 hectares, nine of which are in operation with a 100% occupancy rate.

He stressed that the city government will supervise land clearance and compensation, as well as land use change and land lease, to ensure that they comply with official procedures, the provisions of the Land Law and other related regulations.

"The Hanoi government has prepared and approved subdivision plans for Dong Anh Industrial Park in accordance with the law, and is considering allocating industrial land in the park for sublease to small and medium-sized enterprises," the official added.

He noted that the People's Committee will also instruct the Hanoi Industrial and Export Processing Zone Authority and relevant agencies to monitor and evaluate project implementation, including investors' capital contributions.