Quang Ninh (VNS/VNA) - With bothborder gates and seaports connected to China, the city of Mong Cai in QuangNinh province is a top spot for realty businesses and project developers.

Last year, the total import-export turnoverin the city reached 4.5 billion USD.

Vien Dinh Muoi, general director of SacolandReal Estate Trading Exchange, said:  "Many businesses are planning tosurvey and expand their investment in the city.”

He also said it is becoming an economictranshipment point and bridge between trade and tourism as well as a servicecentre for not only the province of Quang Ninh but also in the entire northeast region of Vietnam.

Muoi said the city has the key role ofcooperation between "two corridors of the Vietnam-China economicbelt", the inter-regional Tonkin Gulf and the Nanning-Singapore economiccorridor as well as the important bridge of ASEAN-China economic cooperation

The area is also a tourism hub. According tolocal data, the city is one of the four key tourist centres in Quang Ninh provincewith many famous landscapes. It welcomed 14 million visitors including morethan 5.7 million international tourists in 2018.

Muoi said all these factors has helpedattract a lot real estate businesses. The provincial People's Committeehas so far allowed five large local economic groups and enterprises to researchinvestment plans in the city.

Vingroup is proposing three major projects,including a shopping complex in Zone 3 in Tran Phu ward, a realty project nearBac Luan II Bridge and an industrial, logistics and service urban complex at BacLuan III Bridge in Hai Hoa ward.

FLC Group proposed to invest in four realtyand hospitality projects in Ninh Duong Zone, Tra Co 1 and Tra Co 2 and ahigh-tech agricultural application area combined with eco-tourism in Hai Dong,Hai Tien and Hai Yen wards.

Sungroup are planning an urban project of70ha connecting the Bac Luan 1 and Bac Luan 2 bridges.

TDH ECOLAND Urban Development and InvestmentJoint Stock Company is proposing several urban area projects in the economiczones of Mong Cai border gate in Hai Xuan commune.

T&T Group Joint Stock Company areplanning two projects, a new urban zone and a commerce service and tourismcomplex of over 625ha in Hai Hoa ward.

Together with the possible investment, MongCai city is also speeding up the implementation of five major projects.

These include projects that renovates andupgrades roads running through islands of Vinh Thuc and Vinh Trung communes, anurban development project along the Greater Mekong Subregion (GMS) corridor; aproject of renovating and upgrading Highway 18C, a  bridge atkm6 650 provincial road 335 and a project connecting Van Don-Mong Caihighways to Van Ninh port.

An experienced investor told baoquangninh.vn that the COVID-19 pandemic causeddisruption of the supply chain in China and made many investors look at Vietnamfor investment opportunities.

With a young and more mobile workforce andlow labour costs, Vietnam is always an attractive destination for foreignbusinesses, he said, adding that Mong Cai city would benefit from the trend./.