Real estate projects on dwarka expressway

A road widening project, a key one in Bến Lức and Đức Hòa districts in the Mekong Delta province of Long An. The delta is becoming a hotspot for investors seeking long-term returns in the real estate market. — VNA/VNS Photo

The Cửu Long (Mekong) Delta, known as Việt Nam’s “rice bowl”, is emerging as a promising destination for real estate investment due to its improving connectivity and transportation infrastructure and growing tourism, according to industry insiders and experts.

Lê Bảo Long, strategy director at Batdongsan.com.vn , said the improving transportation creates opportunities for housing developers.

An estimated VNĐ20 trillion (US$818.64 million) is set to be invested in the region in the construction of new expressways and bridges, he said.

There will be 760km of expressways by 2030, and 1,180km by 2050.

Lê Quyết Tiến, director of the Construction Investment Management Department under the Ministry of Transport, said key infrastructure projects such as the Rạch Miễu 2, Mỹ Thuận 2, Đình Khao, and Đại Ngãi bridges would be completed over the next few years.

The region already has expressways like Bến Lức-Trung Lương, Trung Lương-Mỹ Thuận, Cao Lãnh-Lộ Tẻ, and Lộ Tẻ-Rạch Sỏi.

These not only improve transportation but also stimulate the real estate market, he said.

The impending completion of projects like the Mỹ Thuận-Cần Thơ Expressway, Mỹ Thuận 2 Bridge, Cà Mau bypass, upgrades to the Hậu River (phase 2) and Chợ Gạo Canal (phase 2) will improve infrastructure.

The Chợ Gạo Canal will allow large vessels to sail easily.

Đặng Hùng Võ, former deputy minister of Natural Resources and Environment, said key factors that make the property market in the region attractive are the favourable natural conditions and climate.

It could thus potentially attract people from all over the country and foreigners to come and live and work there, he said.

Real estate projects connected to the agricultural eco-system and sustainable and smart tourism would be highly attractive to investors, he added.

The region holds great potential for agricultural and seafood exports.

It also attracts a lot of FDI in industries such as clean energy and logistics.

The recent approval of the regional plan for 2021-30 by the Government shows its commitment to developing the region.

Under the plan, trade connections within and beyond the region will be enhanced, which presents opportunities for investors to develop real estate projects.

Dương Quốc Thủy, chairman of the Cần Thơ City Real Estate Association, said abundant land at low prices and a large and affordable labour force make the region an attractive destination for property investors.

“The market is still relatively new and less volatile, reducing the risk of speculation and price manipulation.” — VNS

The northeastern province of Quang Ninh has decided to establish a task force whose ultimate job is to lure in large-scale foreign-invested enterprises as soon as 2025.

Vice Chairman of Quang Ninh People’s Committee Bui Van Khang, who was appointed the head of the task force, immediately organised a meeting to assign work to members.

“To build a detailed and specific project to pull in foreign investors, departments and relevant authorities need to determine the specific sectors and the portfolio of schemes calling for funding. In addition, the task force will combine detailed targets about capital volume for each specific schedule, attached with specific solutions,” Khang said.

The province will also organise investment promotion events in developed countries to approach groups that own source technology or lead supply chains, Khang added.

The task force is assigned to compile specific and detailed criteria to lure investors and submit to the committee before the end of the year.

To enhance competitiveness in attracting such capital, Quang Ninh has collaborated with other localities such as Haiphong, Hai Duong, and Hung Yen to build economic links based on promoting the potential and advantages of each locality, increasing the growth rate, and forming a growth pole in the Red River Delta.

When united, the four localities could boast the conditions to form a dynamic economic development area that includes a large international seaport in Haiphong, land and sea border gates with the China in Quang Ninh, an international airport, and abundant human resources.

This is one of a series of programmes to realise the Eastern Expressway Economic Connection Cooperation Agreement that was signed in July 2022 by the Vietnam Chamber of Commerce and Industry and the four localities.

Elsewhere, Hanoi, Nam Dinh, and Bac Giang are also focused on attracting high-tech projects with large amounts of capital, in tandem with Haiphong.

Vice Chairman of Bac Giang People’s Committee Phan The Tuan said, “The province spends priority selecting large projects with the direction of sustainable development with zero pollution and high technology. It will also focus on developing the eco-industrial system to engage funding methodically.”

Production line of Hana Micron Vina at Van Trung Industrial Park, Viet Yen district (Bac Giang), Source: tapchicongthuong.vn

With that direction, Bac Giang is gaining momentum. Last week, South Korea’s Hana Micron Vina Co., Ltd. inaugurated a semiconductor plant in the northern province. The new venture, located in Van Trung Industrial Park, is the second Bac Giang-based factory from Hana Micron Vina, which manufactures integrated circuit boards used for mobile phones and other smart electronic products.

The first factory came into operation in 2022. With the second factory, Hana Micron Vina’s total investment in Bac Giang has reached nearly $600 million.

Chairman Choi Chang Ho said Hana Micron Vina plans to increase its total fundingt to over $1 billion by 2025, generating annual revenues of $800 million and creating 4,000 jobs for Vietnamese workers.

Meanwhile, Ho Chi Minh City wants to entice 50 high-tech projects worth $3 billion by 2025, according to the city’s Department of Planning and Investment.

To realise this, the city crafted a plan for this decade in which the city expects strategic investors to pour an average of VND30 trillion ($1.26 billion) into manufacturing initiatives and at least VND3 trillion ($126 million) in research and development (R&D) centres.

Tran Viet Ha, deputy head of Ho Chi Minh City Export Processing and Industrial Zones Management Authority, said the city wants to see more ventures in the digital economy, electrical tech, semiconductors, and high-tech agriculture, among others.

“The city is also expanding available land for larger groups. At present, more than 10 industrial real estate developers, such as LOGOS and Techtronic Industries, are interested in developing industrial parks in the city,” Ha said.

In June, the National Assembly approved pilot implementation of specific policies for the development of the city, which took effect in August. According to the plan, companies can make a 150 per cent additional deduction for expenses related to R&D. Regarding criteria, the city’s portfolio of industries and professions to pull in strategic investors in innovation facilities and R&D centres, as well as in tech transfer in IT, biotechnology, automation, new material tech, and clean energy, is valued at around VND3 trillion ($126.5 million).

In addition, priority projects include investment in the semiconductor integrated circuit industry, design technology, component manufacturing, integrated electronic circuits, flexible electronics, chips, battery technology, and more with capital of VND30 trillion ($1.26 billion) upwards.

By Oanh Nguyen

DMCI Mining Corp., a subsidiary of DMCI Holdings, has acquired a 31-percent stake in Nickeline Resources Holdings Inc. for $6.552 million.

In a disclosure to the Philippine Stock Exchange, DMCI Holdings said its subsidiary had entered into a memorandum of understanding with Toledo Mining to acquire the minority interest.

The acquisition means that DMCI’s mining subsidiary will join the Berong nickel project in Palawan, and will be a partner of Toledo Mining and Filipino company Atlas Consolidated Mining and Development Corp.

Nickeline owns 60 percent of Berong Nickel Corp. (BNC), a joint venture of Toledo Mining, Atlas Consolidated and ENK (where DMCI Holdings and a British investment firm D&A Income Ltd. recently raised their combined stake to 60.7 percent). ENK also owns the Acoje nickel and Zambales chromite projects.

The $6.552 million from DMCI will be used to fund Toledo Mining’s acquisition of ENK plc’s direct 18.7 percent stake in BNC, a move that was announced on June 29, 2012.

“Toledo will be delighted to welcome DMCI as a partner to the Berong Venture Agreement, alongside Atlas and we both look forward to DMCI’s input into the shared vision for the future of Berong,” Toledo Mining CEO Victor Kolesnikov said. “Having two renowned Philippine companies as our partners will be a significant advantage for the next stage of development for BNC.”

The completion of the BNC sale by December 15 this year is subject to board approvals at DMCI and Toledo Mining, the signing of definitive legally binding agreements, Toledo Mining’s acquisition of ENK’s direct stake in BNC, and “any third party, regulatory, and taxation consents and approvals required for the transaction,” Toledo Mining said.

Toledo Mining said that while its overall interest in BNC “will not materially change” as a result of these transactions, it is an important step for the company to have greater representation on the BNC board through its increased direct holding.

DMCI has interests in construction services, power generation, water utility, infrastructure development, real estate, mining and coal exploration.

BNC successfully restarted mining operations in May 2011. The company is into the exploration, development, and mining of mineral properties in the Philippines.

BNC’s projects include the Berong nickel mining project in Palawan. It also has a stake in an exploration permit for an area of about 1,069 hectares in the municipalities of Quezon and Aborlan in Palawan.