QUE VO 3 IP sees outbound investment boom

Wednesday - 07/12/2016 00:49
After transfer of ownership of Que Vo 3 IP from Dabaco Vietnam to VID Group, within a short time, the face of Que Vo 3 IP has changed greatly with VID Group’s tremendous effort to push up the construction and development of comprehensive infrastructure, actively call for and attract investments from domestic companies and foreign companies from China, Japan, Korea….
Que Vo 3 IP
Que Vo 3 IP
In January of 2016, Prime Minister of the government approved the transfer of ownership of Que Vo 3 IP, Bac Ninh province from Dabaco Group to Vietnam Investment Development Group (VID Group). Bac Ninh province authority expected that with a strong base of healthy financial conditions, profound experience in development of IP and investment attraction of FDI, VID Group would be considered as nuclear to promote the completion of industrial and urban area in Que Vo area in particular and Bac Ninh in general.
The fact that, since handover, VID Group has quickly implemented design, construction and completion of infrastructure and proactively investment attraction activities and also gained some initial achievements.

Up to date, Que Vo 3 IP has become an attractive destination for investments for both domestic and foreign companies.

As being one of first Korean companies who lease land in Que Vo 3 IP, HS Chemical Vietnam realized the advantage and potential of locating business in the IP. Not only HS Chemical Vietnam, all other companies operating in Que Vo 3 shall be guaranteed an open and favorable investment condition with unique advantages including highly competitive leasing price; strategic location in the Northern economic hub of Hanoi – Hai Phong – Quang Ninh; modern transportation system and comprehensive social and technical infrastructure. Moreover, companies also receive active and enthusiastic support in terms of legal and administrative procedure from VID Group and Bac Ninh province authorities.
 

With Decision on approval of investment attraction in Bac Ninh in the period 2013 – 2020, vision to 2030, Bac Ninh People’s Committee commits to create a transparent, attractive and reliable investment environment to lure further source of investments from overseas and contribute greatly to socio-economic development of the country.

According to Report of Bac Ninh IP Management Department, until now, the province has called for investment from 844 projects with the total registered investment of above 8.82 billion USD, of which 522 foreign projects creating more than 7.46 billion USD of registered investment. Currently, Bac Ninh has succeeded in drawing investments from various large and prestigious companies and groups in the world, such as Canon, Sumitimo from Japan; Samsung, Orion from Korea; Foxconn, Mictac from Taiwan; Tyco Electronics from USA; ABB from Sweden; Nokia from Netherland…Annually, the industrial production growth rate of these FDI companies reached more than 20%.
 

Source: VID Group

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