Foreign firms relocate productions lines amid Trade WarVietnam’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 conditionsAs 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 HCMCHai 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 storyHai 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 PhongSituated in Hai Phong’s CBD, Le Chan15-min walk to the future Aeon MallSteps to international schools and a medial centre15-min drive to FLC Diamond 72 Tower City, the city’s future tallest skyscraper90-min drive to Hanoi1-3 bedroom apartments, size from 440 to 1,198 sqftAn array of entertainment and lifestyle facilitiesStaring from HKD1M, approx. HKD1,500 per sqft10% Down payment, expected rental yield up to 10%
*Projected Rental Yield and is not guaranteed. Subject to Terms & Conditions. Prices are for reference only.Disclaimer:The information, text, photos contained herein are provided solely for the convenience of interested parties and no warranty or representation as to their accuracy, correctness or completeness is made by Ashton Hawks or the sellers, none of whom shall have any liability or obligation with respect thereto. These offerings are made subject to contract, correction of errors, omissions, prior sales, change of price or terms or withdrawal from the market without notice. Information provided is for reference only and does not constitute all or any part of a contract. Ashton Hawks and its representatives work exclusively in relation to properties outside Hong Kong and are not required to be nor are licensed under the Estate Agents Ordinance (Cap. 511 of the Laws of Hong Kong) to deal with properties situated in Hong Kong. Digital illustrations are indicative only. ^Travel times are an approximation only, sourced from Transport for London. *Rental yield is projected by the agency and not guaranteed by the developer.Digital illustrations are indicative only.