Delegates participate in the groundbreaking ceremony. — Photo haiphong.gov.vn
MV EARTH Co., Ltd., a subsidiary of Japan's Mitsubishi Estate Group, broke ground on the Logicross Hải Phòng project at Nam Đình Vũ Industrial Park, Hải Phòng City, on November 19.
The project involves a total investment of VNĐ1.3 trillion (US$52.2 million) and encompasses a construction floor area of 88,000 square metres on a 151,000 square metre plot within Lot CN14 of the Nam Đình Vũ Free Trade Zone and Industrial Park.
The Logicross Hải Phòng project is a key initiative in Hải Phòng's economic development strategy, aiming to bolster the city’s logistics infrastructure, warehousing and storage capabilities in order to better meet the growing demand of local and international businesses.
The project is expected to generate significant employment opportunities and contribute positively to Hải Phòng's socio-economic growth.
General Director of Mitsubishi Estate Vietnam, Takashi Kagamoto, highlighted Hải Phòng's geographical advantages and favourable policies, which have spurred robust foreign direct investment (FDI) growth in the region. He noted that the demand for high-quality logistics infrastructure has risen significantly alongside this economic expansion.
“Nam Đình Vũ Industrial Park, with its state-of-the-art infrastructure and strategic location near Hải Phòng Port, coupled with the ongoing expansion of Sao Đỏ Investment Group, is expected to attract new manufacturing industries, driving logistics demand in the surrounding areas,” Kagamoto said.
To address these needs, Mitsubishi Estate Group decided to invest in Hải Phòng and leverage its decade-long expertise in logistics facility development in Japan to ensure the successful execution of the Logicross Hải Phòng project.
During the ceremony, Lê Trung Kiên, head of the Hải Phòng Economic Zone Authority, emphasised the city’s role as a critical transportation hub and gateway to the sea.
Hải Phòng has made significant strides in attracting investment and improving its business environment.
“The city continually improves its infrastructure, simplifies administrative procedures, enhances workforce quality and fosters a transparent, stable, and attractive investment climate for both domestic and international investors,” Kiên said.
The Logicross Hải Phòng project reinforces Hải Phòng's appeal to investors and underscores their confidence in the local business environment.
“With the steadfast principle that 'the success of enterprises is the success of Hải Phòng,' the city remains committed to providing the most favourable conditions for investors, especially Japanese businesses and Mitsubishi Estate Group, to grow and thrive,” Kiên said. — VNS