Hanoi leases 7.7 hectares for Hoa Binh industrial cluster project

Hanoi authorities have approved the lease of over 7.7 hectares of land to Thuy Hung Infrastructure and Urban Development Investment Joint Stock Company. The land, located in Thuong Tin commune, is designated for the first phase of the Hoa Binh craft village industrial cluster infrastructure construction project.

The lease agreement, signed by Hanoi Vice Chairman Bui Duy Cuong, establishes a land use term lasting until March 11, 2075. Under the agreement, the company is exempt from land rent for shared infrastructure areas. For industrial land intended for business and subleasing, the company will receive rent exemptions during the basic construction period, with a maximum of three years, followed by an additional 11-year exemption period.