Vingroup Lights Up the $53 Billion Investment Wave
On August 19th, a grand ceremony marked the commencement and inauguration of 250 projects and works across the nation, with a total investment of up to VND 1.28 quadrillion. The event was held virtually, connecting the central venue (National Convention Center) to 79 venues across 34 provinces and cities.
Vingroup, a prominent Vietnamese conglomerate, took center stage by inaugurating and commencing construction on six key projects nationwide. The highlight was the inauguration of the National Convention Center in Dong Anh, Hanoi.
Accompanying this were five socio-economic infrastructure projects in the fields of transportation, industry, urban development, and tourism in Hai Phong, Quang Ninh, Ha Tinh, Tay Ninh, and Dong Nai.
The inauguration of the National Convention Center, located on Cau Tu Lien Road in Dong Anh, Hanoi, served as the central venue for this momentous occasion.
General Secretary To Lam and Prime Minister Pham Minh Chinh attend the ceremony at the National Convention Center, Dong Anh, Hanoi.
Minister of Construction Tran Hong Minh shared, “With the dedication and collaboration of ministries, sectors, localities, and enterprises, we are proud to inaugurate and commence 250 projects across 34 provinces and cities. Of these, 161 projects are set to begin construction, while 89 are being inaugurated, totaling an investment of VND 1,280,000 billion. This includes VND 478,000 billion in state capital for 129 projects and VND 802,000 billion in other capital sources for 121 projects (including 5 FDI projects with VND 54,000 billion).”
He emphasized that these projects are not just the fruit of hard work and determination but also symbols of the nation’s aspirations and will to prosper. They stand as a testament to Vietnam’s infrastructure development and the commitment of the Party, State, and people to build a strong, prosperous, and modern Vietnam.
Minister Tran Hong Minh asserted that the 250 projects inaugurated and commenced today are not merely symbols of development but also pledges for a brighter future. They contribute to the nation’s journey towards becoming a powerful and prosperous country with a thriving civilization.
Minister of Construction Tran Hong Minh delivers a speech at the ceremony.
National Exhibition Center Prepares for a Historic Event
The National Exhibition Center spans over 900,000 square meters and is envisioned to become the largest exhibition complex in Southeast Asia and among the top 10 globally.
The project is among the top 10 largest exhibition complexes in the world.
The National Exhibition Center is officially inaugurated and ready for a significant national event commemorating the 80th anniversary of National Day.
The project was completed expeditiously within 10 months.
The heart of the complex is the Kim Quy Exhibition Hall, a symbolic structure with a massive 24,000-ton steel dome reaching a height of 56 meters. Its design is inspired by the legendary Golden Turtle, an iconic figure in the ancient legend of Co Loa.
Spanning approximately 130,000 square meters, the Kim Quy Exhibition Hall features 9 grand halls and a central hall, making it an ideal venue for large-scale exhibitions and events. Its versatile design and optimized space cater to diverse display requirements.
The exhibition ecosystem also encompasses the permanent exhibition center (Block A), 4 outdoor exhibition areas (East, West, South, and North), the internationally acclaimed VinPalace Co Loa with a scale of 16,800 square meters, 12 banquet and conference halls accommodating varying numbers of guests, and auxiliary facilities such as a 3,000-square-meter culinary area and a parking lot spanning over 18 hectares with a capacity of over 10,000 vehicles.
Vingroup’s 5 other key projects inaugurated or commenced today include:
The second venue was the inauguration of the Machine Chai Bridge (Royal Bridge) and its access roads on both sides, part of the Vinhomes Royal Island project in Hai Phong. With a length of nearly 2.2 km and a width of 21 meters accommodating 4 lanes, the bridge connects Vu Yen Island to Le Thanh Tong Street, reducing travel time to the city center to less than 5 minutes.
Beyond its functional role, the Royal Bridge stands as a new symbol of Hai Phong with its distinctive design: two arched head towers resembling a soaring bird, forming the “World Gateway Bridge” as a welcoming invitation to investors and businesses seeking exceptional opportunities in the region.
The third venue marked the commencement of an 18-hole international standard golf course in Quang Hanh, Quang Ninh, spanning approximately 100 hectares. Designed by renowned contemporary designer Dourgh Carrick, known for his philosophy of preserving natural landscapes, the course features holes that follow the valley’s terrain and offer views of the surrounding forest and the breathtaking Ha Long Bay. This project will elevate Quang Ninh’s reputation in both tourism and sports when operational.
The fourth venue was in Ha Tinh, where the Vinhomes Industrial Park project broke ground in Vung Ang. Located in lots CN4 and CN5 of the Vung Ang Economic Zone, the project covers nearly 965 hectares and boasts modern and synchronous infrastructure, including factories, ports, and logistics services.
The fifth venue was in Tay Ninh, where construction began on the Phuoc Vinh Tay New Urban Area , spanning approximately 1,089.6 hectares. This project will be developed as an eco-smart-sustainable city, complete with educational, commercial, and healthcare ecosystems, positioning it as a leading urban area in the region.
The sixth and final venue was in Dong Nai, where construction commenced on the first component of the North-South Expressway’s Western Section, connecting Gia Nghia (Dak Nong) and Chon Thanh (Binh Phuoc) . With a total length of approximately 124.13 km (23.1 km in Dak Nong and 101.03 km in Binh Phuoc) and a design of 6 lanes, this expressway holds strategic importance in connecting the Central Highlands with the Southeast region, particularly Dak Nong and Binh Phuoc with Ho Chi Minh City. It will unlock the economic potential of the region and drive new growth dynamics for the two key economic zones.
“Vietnam Unveils New Industrial Park, Generating 100,000 Job Opportunities”
The Nam Binh Xuyen Green Park Industrial Park (IP) in Phu Tho Province has just been inaugurated.
The Big Four: Unveiling the Power Moves of Vietnam’s Billionaires at an Unprecedented Event.
“The who’s who of Vietnamese business came together on the morning of August 19th, with the chairpersons of Vietjet Air, Vingroup, Hoa Phat, and Techcombank gracing the event as key investors and project contractors.”
“Vietnam Earns $4.5 Billion Annually from Rice Exports, but Spends $12 Billion on Animal Feed Imports.”
The young entrepreneur highlights the untapped potential in Vietnam’s agricultural product development.
Taking Stern Action Against Exploitative Practices During the Implementation of Decree 178.
The Government Steering Committee urges heads of agencies and units to uphold their responsibilities and accurately identify individuals subject to the provisions of Decree 178 (as amended and supplemented by Decree 67). This involves a careful consideration of staff streamlining, enhancing the quality of the workforce, and ensuring timely implementation. It is imperative to avoid any instances of shirking responsibility or exploiting these policies.
The New Heart of Ho Chi Minh City: Saigon Marina International Financial Centre Opens Its Doors
Ho Chi Minh City unveils the iconic Saigon Marina IFC, a transformative development that underscores Vietnam’s ascent as a prominent financial hub in the region. This landmark project serves as a testament to the country’s thriving economy and its ambition to become a key player in the global financial landscape.
