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Peaceful Square centre pushes the boundaries   2008-09-14 - VIR

The development will capitalise on the border town’s bustling growth

VietNamNet Bridge - Dong Thang Vietnam opened a commercial centre in the border town of Mong Cai last week to take advantage of growing business between Vietnam and China.

Peaceful Square is built on 5,000 square metres opposite the Mong Cai border gate. The $40 million development will provide 60,000sqm of floor space. Construction of the 11-storey building started in June, 2006. There is a supermarket on the basement and three floors for rent to retailers. The fourth floor is for dining and entertainment while offices for rent are located on the fifth and sixth storeys.

Two upper floors anchor clubs, recreation, massage centres and a discotheque. There are 200 hotel rooms of four-star standard within the building. Many famous trademarks like Modonal CRD, KFC, Maogia Restaurant and Bach Gia Supermarket are present at the building. Many other retailers and companies from China, Hong Kong and Macao are preparing to locate their business there.

As Mong Cai town, a key border gate economic area, has been chosen as the first trial site for border gate economic development under Vietnam’s open-door policy, it has rapidly developed, becoming the most attractive area for domestic and foreign investors in the region.

Mong Cai is now the busiest place for trade and circulation of goods between Vietnam and China. “We have reached our goal after two years of investment and construction. Peaceful Square has come into operation as the company pledged to the Quang Ninh provincial government,” said Lau Wing Wo, chairman and director of Dong Thang Vietnam.

“This will show Dong Thang’s main business directions are in accordance with Vietnam’s market economy and that also affirms that it will provide excellent services and confirm its confidence in business and other partners when they operate here,” he added.

In addition to Mong Cai, Dong Thang has seen Haiphong City’s potential and advantages due to its high growth among Hanoi, Haiphong and Quang Ninh in the country’s northern economic triangle. The company recently received an investment certificate to build a 12 hectare trade centre in Haiphong’s Pham Van Dong street, Duong Kinh district with an initial investment capital of $26 million.

The project consists of a trade centre, stalls, offices, apartments, restaurants. The project holds a lot of interest for the city government as it is in a ‘clean’ plot of land, involving no land clearance problems.

“We continue investing in Haiphong because we believe this is an area with plenty of potential resources for the company’s business operations. We pledge to the city government that we will implement the project as soon as we receive the plot of land,” said Wo.

The project is due to start construction in the fourth quarter of 2008 and the centre will be opened in late 2010.

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