Shenzhen Investment Holdings Co Ltd plans to develop China-Vietnam (Shenzhen-Hai Phong) - Economic and Trade Cooperation Zone, in Hai Phong, Hai Phong, Vietnam. Shenzhen Investment Holdings Co Ltd fully took over the project in August, 2016. The project was located in Haiphong, the largest port city in northern Vietnam,which was the third largest city in Vietnam. It was adjacent to Hanoi, the capital of Vietnam, and 220 kilometers from the Chinese border. It was part of 'Belt and Road' cooperation initiative and Vietnam’s 'two corridors and one circle'. The project was divided into 3 phases. The first phase of development covered an area of 60 hectares. By the end of 2017, the first phase of investment construction would be completed, including roads and bridges in the development area, site leveling, 35,000 square meters of factory buildings and office buildings, main entrance and surrounding walls, first-stage sewage treatment plant, substation construction, etc. The second phase covered an area of 136 hectares and was completed in 2019. The construction contents included: road leveling, second phase of the office building (45,000 square meters), sewage treatment plant and substation expansion. The third phase of development and construction of public service areas and supporting living areas were planned to be completed by the end of 2022. The project aimed to provide a platform to support the 'going out' development of Chinese manufacturing industry in Vietnam.