Hoa Binh Green City complex at No 505, Minh Khai Street in Ha Noi. Its owner Hoa Binh Company Ltd is offering land fee exemption for Vietnamese enterprises, which locate their booths at its V+ commercial center. — Photo baodautu.vn

HA NOI (Biz Hub) — Hoa Binh Company Ltd is offering land fee exemption for Vietnamese enterprises for 10 years at its V+ commercial centre.

The centre, which is located in Hoa Binh Green City complex at No 505, Minh Khai Street in Ha Noi, will come into operation in December this year.

The amount of land fee for 25,000 square metres is estimated at VND400-500 billion (US$19 to 23.8 million). Five floors of the city complex will be earmarked for Vietnamese businesses.

Nguyen Huu Duong, Chairman-cum-General Director of Hoa Binh Company Ltd, confirmed this information with Biz Hub on July 22.

He said that Vietnamese firms only needed to pay basic costs such as electricity and water bills, security and management fees to operate the centre.

Hoa Binh will select prestigious brands producing high-quality Vietnamese products. These firms are required to make a commitment to sell their products at competitive prices.

"This is being done by Hoa Binh to support Vietnamese enterprises boost domestic consumption," said Duong.

The complex comprises 556 apartments with gold plated balconies and elevator doors. Hoa Binh handed over semi-furnished apartments to its customers in May and started to transfer fully furnished apartments from July 11.

The enterprise was founded by a group of ex-servicemen in 1989. At the moment, the firm has five member companies specializing in different fields such as real estate, alcoholic beverage manufacturing and trading, civil and industrial construction. Last year, its revenue reached nearly VND5 trillion (over $238 million) and contributed VND423 billion ($20.1 million) to the State budget. — VNS