Investors sprint to complete new Hanoi health care complex

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Báo Đầu Tư English - 42 month(s) ago 41 readings

Intracom, the new investor of the $198 million hospital expected to be South East Asia’s largest, said it was looking to speed up the construction of northern Vietnam’s Oriental Health Care Complex.

Even though it did not release the exact date when the paused project could be re-started, Nguyen Thanh Viet, director of Transport and Infrastructure Construction Joint Stock Company (Intracom), said that the firm would aim to speed up the process despite foreseeable difficulties in 2011.

“I think this year enterprises in general will be faced with fluctuations in capital market and the price increase of key materials such as coal, power and construction tools, which will bring difficulties to enterprises like us,” said Viet.

Last year, he said that Intracom’s business outcomes had improved from the first to the third quarter as thanks to the global economic recovery. However, in the last quarter of the year, due to the strong fluctuation of interest rates, the company was faced with difficulty in capital mobilisation, Viet said.

Intracom has taken the project over from Korean investor Yukjin, which also had to encounter difficulties mobilising funds during the economic crisis, and aims to build a modern hospital complex in Tu Liem district’s Co Nhue commune.

Oriental Health Care Complex is located on a 9.5-hectare site, consisting of 57 high tech medical departments and 1,000 beds.

The investors plan to receive around 6,000 patients every day and will help reduce the current pressure on the region’s other hospitals. It is 25 kilometres away from Noi Bai airport and 15 kilometres from Hanoi’s downtown.

Investors are aiming to attract foreigners working and living in Vietnam who would normally fly to neighbouring countries for treatment. It also aims to lure high-income Vietnamese who currently prefer Hong Kong or Singapore for medical treatment.

Vietnam now has only a handful of international medical facilites such as the FV Hospital and Columbia Asia in Ho Chi Minh City and the Hanoi French hospital in Hanoi.

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