The project is expected to accommodate about 4,000 employees, helping them shorten time to go to their working places and thus contributing to reducing traffic congestion at peak hours.
Covering an area of over 20 ha in Dong Tien commune, the project includes 7,000sq.m for a kindergarten, parking-lot, and facilities for cultural activities, over 23,800sq.m for transport facilities and over 13,000sq.m for greenery areas, and sport grounds.
The ground-breaking ceremony
Addressing the ground-breaking ceremony, Minister of Construction Pham Hong Ha said this is a practical project, contributing to realizing Bac Ninh’s socio-economic development target.
As a key construction enterprise in Vietnam, Viglacera is not only a prestigious brand name in terms of construction material but also a pioneer in developing social housing, including those for workers.
According to the minister, around 179 projects of social housing (71,150 apartments) in urban areas and IPs have been completed, accounting for only 28 percent of the goal set in the National Housing Development Strategy by 2020.
A representative from Samsung Display of the Republic of Korea said the project will help better workers’ living conditions, and contribute to improving the investment environment in Bac Ninh.
Built in 2005 on a total area of over 658ha, the Yen Phong IP is home to many investment projects of foreign renowned trade names such as Samsung, Orion, Flexcom, Dongsin, Mobase, Dawo Vina, and Hansol.
The IP has attracted nearly USD 8 billion in investment, including USD 7.2 billion in foreign direct investment (FDI), contributing to local export value.
Established in 1974, Viglacera has developed from a traditional brick and ceramics manufacturer to a state-owned conglomerate with a focus on building material production and development of infrastructure, IPs and residential and business properties.
It received international awards such as, “Best Vietnamese IP Developer” and “Vietnam’s Most Active Developer” awarded by BCI Asia for its achievements in industrial and residential property development.
Source: VNA