The project, developed by MV Earth under Mitsubishi Estate Vietnam, has a total cost of 1.328 trillion VND (52.3 million USD) and a total floor area of 88,000 square metres.

This a key project of Hai Phong and will make significant contributions to the development of the port city’s logistics infrastructure and warehouse services to meet the growing demand of regional and international companies.

The project will also create jobs and contribute to Hai Phong’s socio-economic development.

According to Takashi Kagamoto, General Director of Mitsubishi Estate Vietnam, the foreign investment inflows to Hai Phong have witnessed strong growth in recent years, leading to a rapid increase in demand for logistics.

Therefore, Mitsubishi Estate decided to invest in the area, making use of its experience from logistics infrastructure development in Japan to make Logicross Hai Phong a success.

For his part, Le Trung Kien, Head of the Hai Phong Economic Zone Management Authority, stated that Hai Phong has always asserted its position as an important transport hub and northern Vietnam’s gateway to the sea.

He added that the city has been making incessant efforts to perfect its infrastructure, simplify administrative procedures, enhance the workforce quality, and especially to create a transparent, stable and attractive investment climate for domestic and foreign investors.