Logo of Phnom Penh Post newspaper Phnom Penh Post - Property scene set to heat up in Binh Phuoc, Vietnam

Property scene set to heat up in Binh Phuoc, Vietnam

Content image - Phnom Penh Post
An industrial cluster in the southern Vietnamese province of Binh Phuoc. CAT THUONG GROUP

Property scene set to heat up in Binh Phuoc, Vietnam

The property market in the southern Vietnamese province of Binh Phuoc is expected to heat up because a series of infrastructure projects including an airport and industrial parks is planned to be built from now through 2030.

Nguyen Minh Chien, head of the province’s Economic Zone Authority, said administrative procedures are being streamlined, favourable policies are being offered to investors, activities to facilitate online investment are being carried out, and modern and smart technologies are being adopted to speed up the projects.

Nguyen Tan Hung, director of the province’s Department of Transport, said the focus is on transport infrastructure works such as the Ho Chi Minh City-Thu Dau Mot-Chon Thanh-Dak Lak Expressway, the Di An-Hoa Lu Railway and Highway 14C to Dak Nong province.

The highway between Chon Thanh in Binh Phuoc province and Ho Chi Minh City would be built by 2025, he said.

Binh Phuoc has proposed lengthening the highway by 1km to 70km.

It is estimated to cost 36 trillion dong ($1.5 billion), with 19 trillion coming from private sources.

It will facilitate socio-economic development in Binh Phuoc and Central Highlands provinces, according to the former’s People’s Committee.

Tran Tue Hien, chairwoman of the People’s Committee, said the province is soliciting $2 billion worth of investment in 80 key projects.

Priority would be given to key areas such as technology including information technology, supporting industries, agriculture, environmental protection, infrastructure, culture, sports, tourism, and healthcare, she said.

The province is famous for two crops with high economic value, rubber and cashew, and has 243,000ha of land under the former and 138,000ha under the latter.

The province plans to establish 35 industrial clusters in its 11 districts and towns by 2030 at a cost of 5.9 trillion dong.

Of them, 21 will be built on 583ha of land from now to 2025, and the other 14 will be built by 2030 on another 580ha.

The industries to be developed here include farm processing, rubber and plastic, metal, electronics, vehicle parts, and textiles and apparel. They are expected to create around 30,000 jobs.

The demand for housing is expected to grow because of the new industrial zones.

Of new residential projects proposed, Asian Holding Real Estate Co has invested in the Asian Lake View project in Dong Xoai city.

The 4.7ha project includes a residential area, shophouses and an area for entertainment.

Another residential project is the 92.7ha Cat Tuong Phu Hung Complex Urban Area in Dong Xoai city at a cost of $70 million.

Binh Phuoc will focus on attracting investments in technology, organic agriculture and processing of agricultural products like cashew, pepper and fruits.

A major industrial hub in Vietnam’s Southern Key Economic Region, Binh Phuoc is the largest of the 19 southern provinces and shares a 260km border with Cambodia’s Tbong Khmum, Kratie and Mondulkiri provinces.

VIET NAM NEWS/ASIA NEWS NETWORK

MOST VIEWED

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and

  • Thai boxers to join SEA Games’ Kun Khmer event

    The Cambodian SEA Games Organising Committee (CAMSOC) – together with the Kun Khmer International Federation (KKIF) and Khmer Boxing Federation – have achieved a “great success” by including Kun Khmer in the upcoming biennial multi-sports event on its home soil for the first time, said a senior