HANOI, Vietnam, Aug. 08, 2022 (GLOBE NEWSWIRE) -- As Vietnam's economy is recovering strongly with foreign investment capital continuously pouring into the market, especially in the manufacturing sector, many industrial real estate developers are ready to welcome a new wave of foreign capital. Aurora IP is one of the emerging projects in the north with completed and clear legal procedures and ready infrastructure for investors.
According to the Ministry of Planning and Investment, Vietnam received $4.42 billion in FDI in 1st quarter of 2022, up 7.8% from a year earlier. Vietnam aims to raise the proportion of registered foreign investment flows to over 70% in 2021 - 2025 and 75% in 2026 – 2030 as 10-year national strategy on foreign investment cooperation recently approved by Deputy Prime Minister Pham Binh Minh.
Paving the way to attract more foreign capital to contributing the country’s FDI strategy, Cat Tuong Group, one of Vietnam’s leading real estate developers, built Aurora IP as a pioneer in building and developing a green-clean-sustainable textile industrial park along with sustainable growth in the textile industry.
Truly understanding that legal procedures are very important for a foreign business operating in Vietnam, Aurora IP has completed all the legal procedures that ensure a safe business environment for investors.
Aurora IP has been granted full of legal certificates that prove the project’s legal ability and transparency such as Investment Registration Certificate, Enterprise Registration Certificate, Environment Impact Assessment, Land Clearance & Compensation, Financial Obligations, Land Use Right Certificate for each land plot, Ground Water Exploitation Permit, Wastewater Treatment Plant Construction Permit, etc.
Not only legal procedures, but the infrastructure is also ready to be put into operation and welcomes investors around the world.
Aurora IP is implementing land leveling for the whole area of 519.6 hectares, aiming to immediately hand-over clean land to the tenants upon the signing of the land leasing agreement to minimize any waiting time caused to the secondary investors. In 2021, approximately 160 hectares of commercial land in Aurora IP have been prepared as leveling completed.
For manpower, Aurora IP is supplied from 2 sources including local supply of 10,000 workers with high school graduates or basic training for the IP while 130,000 people aged 21-35 are available in surrounding districts.
In addition to land leasing, Aurora IP also provides built-to-suit factory solutions which certainly boost flexibility for the investment plan of secondary investors.
“To stay ahead of the curve, we believe that sustainable development is a key. We all believe that it is our responsibility to prepare full legal documents and procedures as well as complete infrastructure to provide a safe and sustainable investment environment for foreign investors who choose Vietnam as a destination,” said Mr. Tran Quoc Viet- Chairman & CEO of Cat Tuong Group.
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