Shenzhen Investment Holdings Co Ltd planned to develop China-Vietnam (Shenzhen-Hai Phong) - Economic and Trade Cooperation Zone - Phase 3, 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 planned to develop and construct public service areas and supporting living areas and was 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.