“Reviving a Multi-Billion Dollar Investment Project on the West Thang Long Axis after Years on Paper”

adminApril 10, 2024

A significant investment project on the West Thang Long axis, which has been stagnant for nearly 15 years, is now set to be revitalized. This exciting development was announced during a dialogue conference chaired by Tran Sy Thanh, Chairman of the Hanoi People’s Committee, on April 5th. The event aimed to address difficulties and drive production and business activities for enterprises operating in industrial clusters within Hanoi.

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Industrial Development in Hanoi

Tran Sy Thanh highlighted that Hanoi currently has ten operational industrial parks, covering a total area of 1,348 hectares. Additionally, 102 industrial clusters are currently under construction, with a total area of 2,188 hectares. These projects have achieved an impressive occupancy rate of nearly 100%.

In recent times, Hanoi has focused on expediting the infrastructure investment process for two industrial parks, namely Quang Minh 2 Industrial Park (160 hectares) and Clean Soc Son Industrial Park (302.8 hectares). The city has also completed the establishment procedure for Dong Anh Industrial Park, covering an area of 300 hectares. Furthermore, efforts are being made to overcome obstacles faced by 25 out of 43 industrial clusters established during the period of 2018-2020. The goal is to commence construction on all 43 clusters by 2024.

Addressing Challenges

During the conference, business representatives from industrial parks and export processing zones raised several key issues grouped into three categories. The first category focused on land planning, development policy, and industrial park cluster development. The second addressed infrastructure development within industrial parks and clusters, including investment, land, construction, and environmental factors. Finally, the third category covered production and business activities of enterprises within industrial parks and clusters, specifically labor, fire prevention, tax incentives, administrative reform, and more.

Overcoming Obstacles for Specific Projects

Nguyen Hoang Hai, Deputy General Director of Urban Infrastructure Development Investment Corporation (UDIC), stated that progress has been made in clearing the site and transferring approximately 56 hectares of land for the CN3 Industrial Cluster project in Soc Son district. However, some sections of the project are still facing difficulties due to burial grounds in the area. The district and city authorities have been requested to extend the project implementation deadline and expedite burial ground planning to resolve this issue.

Ulrich Petersen, the Investment and Marketing Director of the HaBiotech project in Bac Tu Liem district, stated his expectations for a swift resolution of land clearance procedures to restart the project. Petersen emphasized the close coordination between their company and the local government to complete the necessary procedures for establishing the high-tech zone. Furthermore, the city and district administrations should accelerate the planning process to facilitate subsequent project activities.

The HaBiotech Project

The HaBiotech project, approved for zoning in February 2009, covers approximately 200 hectares in Tay Tuu, Lien Mac, Minh Khai, Thuy Phuong, and Co Nhue communes in Bac Tu Liem district. The Pacific Land Vietnam Company is the project’s investor.

With an expected total investment of over $1 billion, HaBiotech aims to allocate $250 million for technical infrastructure, service facilities, high-rise apartments, and dormitories (excluding land for family housing). The remaining $800 million will be invested in specialized equipment, such as laboratories, research centers, universities, and more.

The project borders the Nam Thang Long Industrial Park to the north, a planned 40-meter-wide road to the west, a planned 40-meter-wide road and residential areas to the east, and a planned 60-meter-wide road (the West Thang Long axis) to the south.

Despite the completion of surrounding infrastructure, such as the Văn Tiến Dũng road, and the gradual development of the West Thang Long axis, HaBiotech is yet to commence its operations.

Upholding Commitments

At the conference, leaders of the Hanoi People’s Committee, departments, boards, associations, and localities responded directly to the concerns raised by enterprises. To overcome challenges and facilitate business operations, Hanoi will continue to actively guide departments, agencies, district and town people’s committees, and industrial park investors with periodic and ad-hoc meetings. These meetings will focus on timely resolving difficulties and obstacles faced by businesses.

Moreover, Hanoi is determined to eliminate small-scale and unregulated industrial development that does not meet environmental standards, fire prevention requirements, and other modern city development criteria.

With concerted efforts and a commitment to progress, Hanoi is revitalizing long-standing investment projects and paving the way for economic growth and prosperity.