PM requested to consider key IPP Group project proposal

Earlier in August, 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 stated that over the past time, the company along with investment partners from the U.S., South Korea and other countries has been actively working with provinces, cities and ministries, related industries to research and implement 45 key projects in Vietnam.

In particular, IPP Group proposed to the prime minister to allow the implementation of the investment project of the international and regional financial center in Ho Chi Minh City and Da Nang. Currently, Shearman & Sterling (U.K.) and domestic consulting companies have completed the draft of the project and sent it to local and central departments for comments before submission to the government. The draft of this project has been agreed to by the U.S. investor, Cantor Fitzgerald Company.

Regarding investment in free trade zones, IPP Group has been selected by Kien Giang Province as the investor for the Phu Quoc free trade zone project (through bidding) while the company is expediting the planning of Van Phong Economic Zone (Khanh Hoa), Da Nang, Quang Ninh, Can Tho to complete investment procedures, select investors in accordance with the law and study the necessary operating mechanisms to be able to soon introduce this business model in Vietnam.

Johnathan Hanh Nguyen, chairman of IPP Group (second from right) an foreign partners. Photo by IPP Group

In terms of the 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 airports as a center, develop and expand service, commercial, and logistics functions around the airport.

Currently, IPP Group has been 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 propose specific planning ideas, working with partners and necessary legal procedures to invest and develop airport cities here.

In addition, IPP Group also reported to the prime minister on investment in developing smart urban areas, resorts and community healthcare centers. These projects are invested and developed together with the above mentioned financial centers and free trade zones to ensure synchronization and full functionality in the process of exploitation and operation.

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

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

With more than 35 years of operation in the field of commercial business associated with aviation, IPP Group is investing in a centralized warehousing and logistics system, applying advanced management and technologies in major provinces and cities in Vietnam to synthesize both domestic and international shipping services.

Therefore, recently, IPP Group has sent a dossier to the Ministry of Transport, submitted to the prime minister for permission to establish the IPP Air Cargo airline (independent from other commercial carriers).

IPP Group also confirmed IPP Air Cargo currently plans to sign a memorandum of understanding to buy 10 B777 Freighter aircraft worth about $3.5 billion with Boeing Corporation.

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