Investing in Key Transport Routes
According to the Department of Planning and Investment of Long An province, in 2024, the locality will continue to focus its resources on allocating funds for important transport projects in the province to ensure their timely completion and operation.
Specifically, in 2024, Long An has been allocated approximately VND 2,886 billion for transport infrastructure development. The majority of this funding is directed towards vital transport routes that foster regional connectivity.
One such project is the Ho Chi Minh City Ring Road 3 segment passing through Long An province, which broke ground in June 2023. With a length of 6.84 km, it starts at the boundary between Ho Chi Minh City and Long An and ends at the intersection of the Ben Luc-Long Thanh Expressway and the Ho Chi Minh City-Trung Luong Expressway, traversing Ben Luc district. The plan is to have this section of Ring Road 3 technically operational by October 2025 and fully completed and in use by 2026.
Upon completion, the entire Ring Road 3 will stretch over 75 km, connecting Long An with Ho Chi Minh City, Dong Nai, and Binh Duong. This route will not only enhance transportation connectivity in the southern key economic region but also open up new opportunities for the development of logistics, industrial parks, and new urban areas.
Transport infrastructure investments are shortening the distance between Long An and Ho Chi Minh City.
In addition, Long An province is expediting the construction of Provincial Road 823D to ensure its completion in 2024. With a length of 14.2 km, it starts at Km 0+000 in Duc Hoa district, Long An, and Ho Chi Minh City, and ends at Km 14+274, the Hau Nghia roundabout in Duc Hoa district. This project, with a total investment of over VND 1,105 billion, is managed by the Long An Department of Transport. The funding sources include VND 1,000 billion from the central government’s budget, with the remaining amount coming from the provincial budget and other mobilized capital. Construction of this road began in December 2021.
Another inter-regional route, Provincial Road 830E , with a total investment of VND 3,700 billion, was inaugurated in March 2023 and is expected to be completed by 2025. This road, stretching over 9.3 km, starts at the Ben Luc intersection of the Ho Chi Minh City-Trung Luong Expressway in An Thanh commune, Ben Luc district, and ends at Provincial Road 830 in Long Dinh commune, Can Duoc district.
Recently, the Luong Hoa-Binh Chanh Road segment in Long An was also inaugurated and is expected to be completed by 2025. This road is a driving force for the province’s development, providing a quick connection to Ho Chi Minh City and other regions. Once completed and connected, it will reduce travel time from Ben Luc to Ho Chi Minh City to just 5 minutes and to Vo Van Kiet Boulevard in 15 minutes. In the future, this route will also provide access to key national transport projects such as Ho Chi Minh City Ring Road 3.
The continuous new investments in infrastructure have also brought about new developments in the real estate market in Long An in terms of both supply and demand.
According to the Long An real estate market report for June 2024, Ben Luc, Duc Hoa, and Can Giuoc are the three localities with the highest increases in rental property demand, with month-over-month increases of 10%, 15%, and 21%, respectively.
In May 2024, there were limited new real estate project launches in Long An. The only apartment project currently selling units is EHome Southgate in the Waterpoint township, which has sold out its entire inventory. Several new projects are in the planning stages but are still finalizing legal procedures and have not yet announced official launch dates.
In the segment of terraced houses, only a few projects are launching new phases, such as Waterpoint Ben Luc by Nam Long, which is introducing the Grand Villa product line within the compound The Aqua, with prices starting at VND 12 billion per unit, and the Park Village project, which is expected to announce new sales policies soon. Notably, the Waterpoint township is distinguished by its comprehensive investment in urban amenities. The EMASI Plus school is currently under construction and is expected to open in August 2024, while the polyclinic and food store will be operational this year.
Attracting Investments for 27 Industrial Cluster Infrastructure Projects
Recently, the Department of Industry and Trade of Long An province announced the planning of infrastructure projects for industrial clusters in the province for the period of 2021-2030 to attract investments.
Accordingly, Long An plans to attract investments for 27 industrial cluster infrastructure projects located in various parts of the province. These are newly established industrial clusters that will provide additional industrial land to attract more investors to the region.
According to Mr. Huynh Van Quang Hung, Director of the Department of Industry and Trade of Long An province, attracting investments for industrial cluster infrastructure projects is in line with the Decision No. 686/QD-TTg dated June 13, 2023, issued by the Prime Minister, approving the Planning of Long An province for the period of 2021-2030, with a vision towards 2050. It also aims to increase the province’s industrial land fund to attract more investments. Enterprises and investors interested in becoming the infrastructure developers of these industrial clusters need to prepare the necessary documents as per the regulations.
In addition to infrastructure, the development of industrial parks is also impacting the real estate market in Long An.
According to the planning, by 2030, Long An province will have 51 industrial parks covering an area of nearly 12,500 hectares. Additionally, the province has planned for 28 new industrial clusters with a total area of over 1,800 hectares.
With this expansion, Long An becomes the second locality in Vietnam (after Binh Duong) in terms of industrial park area, providing significant opportunities for investment attraction.
The locality will focus on developing the industry towards technological innovation, improving productivity and competitiveness, and efficient and economical use of resources. It aims for an average industrial production index growth rate of about 13% per year during the 2021-2030 period.
Long An prioritizes the development of processing and manufacturing industries, as well as renewable energy. Key industries include metal production and products, mechanical engineering, food processing, electronics, chemicals and chemical products, and energy.
According to the People’s Committee of Long An province, there are currently 26 industrial parks in the province that are eligible to receive investments, with an area of nearly 2,900 hectares of leased industrial land and an occupancy rate of 67.72%. Additionally, there are 17 operating industrial clusters with a total area of over 600 hectares of leased land and an occupancy rate of 83.62%.
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