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

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • Honda shutters Siem Reap football club

    Japanese football legend Keisuke Honda, the owner of Siem Reap football club Soltilo Angkor FC, has been forced to shut the club down, after it failed to attract sponsorship for the upcoming season. Honda, the former manager of the Cambodia men's national football team, said

  • Hun Sen warns of regional tensions

    ASIA is becoming a dangerous geopolitical hotspot, with several countries announcing that they intend to send naval vessels towards Southeast Asia and on to the South China Sea, warned Prime Minister Hun Sen. “Heated geopolitical issues can easily escalate, namely to war. I am not

  • PM declares ASEAN Para Games open

    The 12th ASEAN Para Games officially kicked off on the evening of June 3 at Morodok Techo National Stadium in Phnom Penh, with a spectacular opening ceremony featuring fireworks and performances by some of the Kingdom’s most accomplished talents. Tens of thousands of sports fans

  • Waterway job still pending for Kampot tourism port’s opening

    The search is still on for a contractor to expand and deepen the Kampot International Tourism Port’s waterway and deliver additional enhancements allowing safe access for larger vessels, nearly a year after the main construction work on the 4.25ha site was completed on June 30, 2022.