According to the decision dated November 25, 2024, the project is characterized as a functional area within the economic zone, invested in and constructed for entertainment, cultural, tourism, and resort purposes. This decision adjusts the land-use structure in certain project areas compared to the 2020 decision by the People’s Committee of Cat Hai District.
The total area of adjusted land is nearly 138.9 hectares. Specifically, the land for resorts is now reduced to 104,687 square meters; land for mixed-use services, combined with green trees and water landscapes, has increased to 975,042 square meters; the area of green parks and landscapes has increased to 247,792 square meters; technical infrastructure land remains unchanged at 10,493 square meters; and transportation land has decreased to 46,387 square meters.
 Source: Decision 5265/QD-BQL dated November 25, 2024
|
The project was approved for investment licensing and granted to VinFast Joint Stock Company (formerly VinFast Limited Liability Company) in September 2019. The total investment capital amounts to VND 3,500 billion, of which the contributed capital is VND 525 billion (accounting for 15% of the total investment). The project is expected to be implemented over 50 years, with a construction period from the second quarter of 2019 to the third quarter of 2024. The project is exempt from land rent during the construction period, with a maximum duration of three years from the date of the land lease decision by the competent state agency (excluding cases of construction, renovation, and expansion of production and business facilities). It is also exempt from land rent for 15 years after the construction period.
On November 11, the Department of Natural Resources and Environment of the city sent a document to the Management Board of Hai Phong Economic Zone, stating that the city’s 2024 land use plan, according to Decision 2110/QGG-UBND dated April 14, 2024, identifies the locations of the land plots as commercial, service, port, warehouse, logistics, LPG warehouse, and power plant areas. However, the amusement park, entertainment area, park, and resort project on Cai Trap Island is not included in the list of projects to be implemented in the 2024 land use plan of Cat Hai District, as approved by the city’s People’s Committee in Decisions 1234/QD-UBND dated April 15 and 2481/QD-UBND dated July 19, 2024.
On February 28, 2023, the Management Board of Hai Phong Economic Zone issued a decision to extend the land use duration by 24 months for VinFast to implement the project.
Current progress of the project
According to the EIA report for the project, published in December 2024, the Ministry of Natural Resources and Environment is in the process of collecting opinions. The investor has shared that the investment preparation progress is expected to be completed by January 2025, with construction taking place from March 2025 to February 2027. The trial operation phase will be from March to September 2027, and official operations will commence in October 2027. As of December 2024, the project is in the preparation phase and has not yet started construction.
VinFast has shared that the project has a total land area of 316 hectares and comprises 308 resort service facilities distributed across eight land plots. These include resorts, mixed-use service areas, amusement parks, a water park with thrilling rides, a safari park with wild animals, and a domestic tourist wharf, among other attractions.
Location of Cai Trap Island, Hai Phong
|
In 2015, the People’s Committee of Hai Phong City had issued a notification approving the policy and allowing Xuan Truong Construction Enterprise to survey an area of approximately 500 hectares on Cai Trap Island, Cat Hai District, to research and establish a detailed 1/500 plan and the Cultural and Spiritual Tourism Project. However, the People’s Committee of Hai Phong City is currently in the process of annulling this notification.
The Cultural and Spiritual Tourism Project on Cai Trap Island, with a total land area of over 450 hectares and a total investment of VND 9,800 billion, was planned to be implemented from 2015 to 2025. Notably, it included a spiritual area of 88.7 hectares featuring a 150-meter-tall statue of Buddha Shakyamuni and a 108-hectare service area with a five-star hotel, casino, and golf course.
Thu Minh
Xanh SM Enters the Indonesian Market with a Bang, Signing MOUs with 9 Major Partners including Vietjet, Huawei, and Visa
Xanh SM is set to operate approximately 1,000 VinFast VF e34s in Southeast Asia’s most populous market.
The Ultimate In-House System: VinFast’s Revolutionary Approach to Manufacturing.
This facility plays a pivotal role in the initial stages of vehicle manufacturing. It is where the magic begins, with skilled technicians and state-of-the-art equipment coming together to lay the foundation for what will eventually become a sleek, powerful automobile.
The Top Car Sellers in Vietnam: Unveiling the Brands that Dominated the Market in 2024
The automotive industry in Vietnam is brimming with intense competition as Hyundai, Toyota, and VinFast go head-to-head for the coveted title of the top-selling car brand in 2024. With each company bringing their A-game to the table, the race to the finish line promises to be thrilling.
The Billionaire’s Joy: VinFast’s Success Story
VinFast’s stock has soared, pushing its valuation to an impressive $11.85 billion. This surge in value places the company sixth among the world’s most valuable electric vehicle manufacturers, following closely behind industry leaders such as Tesla, Xiaomi, Li Auto, Rivian, and XPeng.
Electric Dreams: Igniting Opportunities in Central Vietnam with VinFast’s New Plant
Vingroup has just kick-started an exciting new project with the development of the VinFast electric car factory in Central Vietnam. This marks a significant step forward for the group as they venture into the electric vehicle revolution. With this new initiative, Vingroup is poised to make a powerful impact on the automotive industry, not just in Vietnam but potentially on a global scale.
