Relevant ministries have been asked to review a Vingroup proposal to build a $7 billion residential apartment complex in northern Quang Ninh Province.
The review instruction has been issued by Deputy Prime Minister Trinh Dinh Dung.
The VND165 trillion ($7 billion) Ha Long Green project in the northern province that is home to world famous natural attraction Ha Long Bay, would cover an area of nearly 3,200 hectares.
It would be located alongside the Ha Long – Hai Phong expressway, connecting Ha Long Bay with the northern coastal city of Hai Phong.
It would consist of 55,300 properties for both residential and commercial purposes, as well as schools and parks.
In a previous report, Vinhomes, the residential property development unit of Vingroup, had said that Ha Long Green, whose construction is scheduled for next year, is the biggest of 26 upcoming projects.
Quang Ninh has been receiving significant increase in investments in recent years. It is home to Vietnam’s first private airport – the Van Don International Airport – which began operations last December.
The government also aims to have the Van Don economic zone in the province become a financial center for the Asia Pacific region by 2030.
Quang Ninh was the most competitive province in Vietnam last year for the second time in a row, according to the Provincial Competitive Index (PCI) 2018 survey results released in March.