Free Trade Zones

PM asked to consider IPP Group’s key project proposal


Earlier in August, the IPP group, chaired by Johnathan Hanh Nguyen, sent a report to Prime Minister Pham Minh Chinh, proposing the implementation of a series of key projects.

In the report to the Prime Minister, IPP Group said that over the last time, the company, along with investment partners from the United States, South Korea and other countries, has been actively working with provinces, cities and departments, related industries to research and implement 45 key projects in Vietnam.

In particular, IPP Group proposed to the Prime Minister to authorize the implementation of the investment project of the international and regional financial center in Ho Chi Minh City and Da Nang. Currently, Shearman & Sterling (UK) and national consulting firms have finalized the draft and sent it to local and central services for comment before submitting it to the government. The draft of this project was approved by the American investor, Cantor Fitzgerald Company.

Regarding investments in free zones, IPP Group has been selected by the province of Kien Giang as an investor for the Phu Quoc free zone project (by tender) as the company accelerates the planning of the zone. of Van Phong (Khanh Hoa), Da Nang, Quang Ninh, Can Tho to complete the investment procedures, select investors in accordance with the law and study the operating mechanisms necessary to be able to introduce this economic model in Vietnam in the near future.

Johnathan Hanh Nguyen, chairman of the IPP group (second from right) a foreign partner. Photo of the IPP group

In terms of investment and development of airport cities, IPP Group said this is a model and trend developed by advanced countries in recent years. These areas will focus on the airports as a hub, develop and expand the service, commercial and logistics functions around the airport.

Currently, the IPP group is working with the authorities of Kien Giang (Phu Quoc), Khanh Hoa (Cam Ranh), Dong Nai (Long Thanh), Can Tho (Can Tho airport), Hanoi (Noi Bai) to come up with ideas for specific planning. , working with partners and legal procedures necessary to invest and develop the airport cities here.

In addition, IPP Group also reported to the Prime Minister on investments in the development of smart urban areas, resorts and community health centers. These projects are invested and developed with the financial centers and free zones mentioned above to ensure synchronization and full functionality in the operation and operation process.

Along with the land use master plan map for the Phu Quoc Free Trade Zone in Kien Giang, the IPP group also reported to the head of government on the creation of the cargo airline – IPP Air Cargo and the distribution warehouse system of the logistics center – Bellazio Logistics.

Regarding this proposal, the IPP Group said that the rapid development of 4.0 technology and the impact of e-commerce in the current context has led to the necessary direction of investments in freight transport and professional logistics. Currently, it is estimated that on average 88% of the Vietnamese freight market is dominated by foreign carriers.

With more than 35 years of activity in the field of commercial affairs associated with aviation, IPP Group invests in a centralized warehousing and logistics system, applying advanced management and technologies in the main provinces and cities of Vietnam. to synthesize national and international shipping services.

Therefore, recently, IPP Group sent a dossier to the Ministry of Transport, submitted to the Prime Minister for the authorization to create the airline IPP Air Cargo (independent from other commercial carriers).

The IPP Group also confirmed that IPP Air Cargo is currently planning to sign a memorandum of understanding to purchase 10 B777 Freighter jets worth around $ 3.5 billion with Boeing Corporation.

The B777F has a maximum payload of 103,700 kilograms, a maximum flight range of 18,057 kilometers, or 9,200 kilometers with maximum structural payload, the largest air cargo capacity in Southeast Asia.