Northern Port City Seeking Investors for Dinh Vu IP's Next Phase

A seminar to call investment into Dinh Vu Industrial Park (IP) in the northern port city of Haiphong was held on April 5 by the municipal People’s Committee in cooperation with Dinh Vu Development Company, which runs the IP.

 

Dinh Vu IP’s first phase has lured investment of $366.2 million, and up to 85 per cent of its area has been leased. The second stage of 370ha is still under construction and will be available later this year.

 

The IP has received investment commitments from many big firms like Petro Vietnam, Petrolimex, Proconco, Chevron, Shinpetrol and Vinachem.

 

As much as US$50 million was invested into the IP’s first stage, and the second is expected to cost $75.5 million.

 

Located on the Dinh Vu Peninsula, the IP is part of Dinh Vu Economic Zone, which houses a deep-water port and a 65ha residential area.

 

Haiphong will further invest in building infrastructure in its IPs, said the municipal People’s Committee Trinh Quang Su at the seminar. He said that when 1,200MW Thuy Nguyen Power Plant comes into operation next year, the city will have one of the best electricity supply systems for industries and residents anywhere in the country.

 

Haiphong, located in the northern economic triangle (Hanoi-Haiphong-Quang Ninh), possesses high development potential for sea transportation, heavy industry, mechanics, shipbuilding, seafood processing, footwear, and garment and textiles. (VNS)