Construction of 105 million USD project begins in Hai Phong

Hai Phong (VNA) – Construction of an apartment and trade centre complex worth more than 2.2 trillion VND (105 million USD) began in the northern port city of Hai Phong on May 11.

Covering 1.26 ha in the city’s Le Chan district, the Minato Residence project is funded by the Japan-invested Minato Vietnam Ltd Co. It will include two buildings with 926 apartments and a trade centre.

Once operational, the project is expected to meet the rising demand for housing and shopping of local people and foreigners working in the city, the investor said. 

Hai Phong is home to many large domestic and international investors, said Chairman of the municipal People’s Committee Nguyen Van Tung at the groundbreaking ceremony.

In the recent three years, the city has recorded a number of achievements in socio-economic development. Under the Politburo’s Resolutions No.45 dated January 24, 2019, the city is expected to become a leading locality in modernisation and industrialisation and a driving force for socio-economic growth of the northern regionand the whole country.

By 2025, the city will basically complete the modernisation and industrialization process, and become a smart city by 2030.

Hai Phong has attracted 642 projects worth more than 17 billion USD from 38 countries and territories, Tung said.-VNA