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Investment

Last updated: Thursday, September 20, 2018

 

Hai Phong Rises as FDI Hotspot with Development of Key Transportation Infrastructure

Posted: Wednesday, September 12, 2018


On September 2, the expressway connecting the two coastal cities – Hai Phong and Ha Long of Quang Ninh Province – was fully opened for traffic. With a total length of 24.6km, the Hai Phong – Ha Long Expressway connects the Hanoi – Hai Phong Expressway and the National Highway No. 18 in Ha Long’s Dai Yen Ward.

Part of the project includes the first made-in-Vietnam Bach Dang Bridge, located at the Hai Phong end with a 3.5km span above the river and speed limit of 100km/h. Travelling time from Hai Phong to Ha Long is now reduced by two third to half an hour. Later this year it is expected that the Ha Long – Van Don Expressway will also be opened for traffic, and the Van Don – Mong Cai Expressway leading to the border to China is expected to be completed by 2020.

Together with the Hanoi – Hai Phong Expressway, these expressways form an essential transportation network among the three northern economic powerhouses – Hanoi, Hai Phong and Quang Ninh. Further, this also brings businesses closer to trading activities with the vast south China market.

Moreover, earlier in May this year, the Hai Phong International Gateway Port, also known as Lach Huyen Deep Sea Port, officially started operation. Having a draft of -14m, the port can handle vessels of up to 100,000DWT, while shipping time to Europe is reduced from 30 to 23-25 days, to the US West Coast from 35 to 27-30 days, and to the US East Coast from 20 to 13-15 days, thanks to new direct routes and the elimination of transshipment time. Further, this allows businesses to save significant shipping cost comparing to using the existing port of 20,000DWT.

The Cat Bi International Airport in Hai Phong has also seen sharp increase in passenger throughput of over 25 per cent per year and is also planning to double its capacity to accommodate 8-8.5 million passengers/year by 2025.

As such, the city of Hai Phong has been consolidating its position as a key transportation hub in the north of Vietnam. Being at the centre of these infrastructure development, Hai Phong will become the main gateway of north Vietnam to regional and world markets. Industrial zones in the region such as DEEP C Industrial Zones have foreseen such rapid development and have taken the opportunity to expand their land lease portfolio, creating more opportunities for businesses to tap into this promising location.

DEEP C lies at a unique location with direct connection to the Hanoi-Hai Phong Expressway and the Bach Dang Bridge to Ha Long, as well as to Lach Huyen Deep Sea Port via the Tan Vu Bridge. Not only does DEEP C offer a logistics advantage to its tenants, but it also offers international-standard utilities provision, economic zone tax incentives, and supporting services to start business such as licensing and recruitment.

Over 20 years developing in Vietnam, DEEP C has become home to over 80 investment projects from Vietnam, Japan, Korea, Europe, US and ASEAN countries, operating in various industries such as heavy manufacturing, general industries, automotive, renewable energy equipment. Recently they have officially launched DEEP C II Industrial Zone at the centre of these infrastructure developments, adding another 645ha of industrial land as potential investment base for companies wanting to enter the market. So far this year more than 10 Korean investors have decided to set foot in DEEP C II Industrial Zone.

For more information please visit DEEP C’s website at www.deepc.vn or email to info@deepc.vn.








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