Capital flows into Móng Cái City

June, 08/2020 - 10:07
With both border gates and seaports with China, the city of Móng Cái in Quảng Ninh Province is a top spot for realty businesses and project developers.


Móng Cái City in Quảng Ninh Province is an attractive destination for investors. — Photo

HÀ NỘI — With both border gates and seaports with China, the city of Móng Cái in Quảng Ninh Province is a top spot for realty businesses and project developers.

Last year, the total import-export turnover in the city reached US$4.5 billion.

Viên Đình Mười, general director of Sacoland Real Estate Trading Exchange, said:  "Many businesses are planning to survey and expand their investment in the city.”

He also said it is becoming an economic transhipment point and bridge between trade and tourism as well as a service centre for not only the province of Quảng Ninh but also in the entire north east region of Việt Nam.

Mười said the city has the key role of cooperation between ​"two corridors of the Việt Nam-China economic belt", the inter-regional Tonkin Gulf and the Nanning-Singapore economic corridor as well as the important bridge of ASEAN-China economic cooperation

The area is also a tourism hub. According to local data, the city is one of the four key tourist centres in Quảng Ninh Province with many famous landscapes. It welcomed 14 million visitors including more than 5.7 million international tourists in 2018.

Mười said all these factors has helped attract a lot real estate businesses. Quảng Ninh Province People's Committee has so far allowed five large local economic groups and enterprises to research investment plans in the city.

Vingroup is proposing three major projects, including a shopping complex in Zone 3 in Trần Phú Ward, a realty project near Bắc Luân II Bridge and an industrial, logistics and service urban complex at Bắc Luân III Bridge in Hải Hòa Ward.

FLC Group proposed to invest in four realty and hospitality projects in Ninh Dương Zone, Trà Cổ 1 and Trà Cổ 2 and a high-tech agricultural application area combined with eco-tourism in Hải Đông, Hải Tiến and Hải Yên wards.

Sungroup are planning an urban project of 70ha connecting the Bắc Luân 1 and Bắc Luân 2 bridges.

TDH ECOLAND Urban Development and Investment Joint Stock Company is proposing several urban area projects in the economic zones of Móng Cái border gate in Hải Xuân Commune.

T&T Group Joint Stock Company are planning two projects, a new urban zone and a commerce service and tourism complex of over 625ha in Hải Hòa Ward.

Together with the possible investment, Móng Cái City is also speeding up the implementation of five major projects.

These include projects that renovates and upgrades roads running through islands of Vĩnh Thực and Vĩnh Trung communes, an urban development project along the Greater Mekong Subregion (GMS) corridor; a project of renovating and upgrading Highway 18C, a  bridge at km6 + 650 provincial road 335 and a project connecting Vân Đồn-Móng Cái highways to Vạn Ninh Port.

An experienced investor told that the COVID-19 pandemic caused disruption of the supply chain in China and made many investors look at Việt Nam for investment opportunities.

With a young and more mobile workforce and low labour costs, Việt Nam is always an attractive destination for foreign businesses, he said, adding that Móng Cái City would benefit from the trend. — VNS