The plan to change the land use purpose of Bien Hoa 1 IP has been delayed for 10 years now because parties failed to negotiate a roadmap for compensation. The initial plan, under which the province was to shut down the IP by 2020, has failed after complications in administrative procedures. The province estimated that it may take VND15 trillion ($652.17 million) to switch the function of the IP.
Property firms have mobilized capital from the corporate bond market. In January-November last year, these firms raised over VND71.3 trillion from corporate bond sales, accounting for 34.5% of the total corporate bond value and equivalent to 15.4% of the outstanding loans for the real estate business in 2018, according to SSI Securities Corporation.
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.
The new industrial park will also have convenient traffic connections and infrastructure and will be accessible to main roads such as Highway 1A, HCM City – Trung Lương Highway and Ring Road 3, which crosses the industrial park and connects with the Mekong Delta province of Long An.
According to the General Statistics Office, from January to December 20, total foreign investment into Vietnam, including newly-registered, additional, and stake-acquisition capital, reached nearly $31.8 billion, up 3.1 per cent on-year. In the 2019 e-Conomy SEA report by Google, Temasek, and Bain & Company, Vietnam was designated as the third-most funded country in Southeast Asia, after Singapore and Indonesia.
The People’s Committee of the northern province of Bac Ninh has given green light to the establishment of Tan Chi 2 and Cach Bi supporting industrial clusters with more than 1.6 trillion VND (68.75 million USD) in total investment.
Minister of Construction Phạm Hồng Hà said at the time that the ministry would work with the Ministry of Natural Resources and Environment to complete regulations on condotels and officetels, but nothing has been issued.
The city's People’s Committee has also directed authorities to propose further regulations on management and use of State-owned houses and land funds, along with regulations related to auction of land-use rights and land leases.