The Minato Residence
Foreign firms relocate productions lines amid Trade War
Vietnam’s remarkable economic progress looks set to continue, despite a global slowdown in 2020 due to the Trade War and pandemic. Foreign firms, including those from China, are taking advantage of Vietnam’s attractive business environment. Multinational electronics company, LG, relocated its production line to Hai Phong in June, while Apple’s assembly partner Pegatron Corp. plans to invest USD 1 billion in the northern city.
Favorable geographic conditions
As Vietnam’s 3rd largest city with a population of 2.02 million, Hai Phong has transformed into a major economic player. Hai Phong has a strategic location to serve as a deep-sea outport for Northern Vietnam and southwestern China. The China-Vietnam “Two Corridor, One Belt” initiative places Hai Phong as the spearhead of economic modernization in Northern Vietnam to foster connectivity across Eurasia.
Vietnam’s highest GDP above Hanoi and HCMC
Hai Phong saw a GDP growth of 16.7% in 2019, the highest of the country — doubled that of Hanoi’s 7.5%.
Resemblance to the Shenzhen success story
Hai Phong is home to 13 industrial zones. Dinh Vu and Deep C are the most comprehensive industrial zones in Hai Phong. Hai Phong has stepped up its infrastructure system. Developments include the USD 155 million Cat Bi Airport Terminal 2 expansion, the USD 1 billion deep-sea port expansion, and the Hanoi-Hai Phong Highway, shortening driving time to 1.5 hours to Hanoi. Hai Phong is set to be a major trade gateway to facilitate world-class land, sea, and air transport.
About The Minato Residence, Hai Phong:
First 100% Japanese-developed residence in Hai Phong
Situated in Hai Phong’s CBD, Le Chan
15-min walk to the future Aeon Mall
Steps to international schools and a medial centre
15-min drive to FLC Diamond 72 Tower City, the city’s future tallest skyscraper
90-min drive to Hanoi
1-3 bedroom apartments, size from 440 to 1,198 sqft
An array of entertainment and lifestyle facilities
Staring from HKD1M, approx. HKD1,500 per sqft
10% Down payment, expected rental yield up to 10%