Vietnam Needs US$26Bln for Northern Key EZ's Industrial Development

Vietnam will need around VND415.97 trillion (US$26 billion) to develop industrial sector in the northern key economic zone in 2006-2015 period, Vietnam News Agency said.

 

The figure was given at the industrial development plan for the zone in the phase and a vision 2020, recently approved by the Ministry of Industry.

 

Of the sum, roughly VND227 trillion will be spent for industrial production sectors, while some VND30 trillion will be for infrastructure construction of industrial parks and the remaining capital will be allocated for power and water supply system.

 

About 63-67 per cent of the total capital is expected to be mobilized from local sources and the rest from foreigners.

 

Under the plan, the zone will focus on developing 10 key industries namely mechanics, metallurgy, electronics, informatics, construction materials, agro-forestry-fishery processing sector, garment and textiles, mineral exploitation, electricity and traditional handicraft industry.

 

The northern key economic zone has a total area of 15,277 square kilometers and accounts for 4.64 per cent of the total national area.

 

The zone includes provinces of Quang Ninh, Hai Duong, Hung Yen, Ha Tay, Vinh Phuc and Bac Ninh and the cities of Hanoi and Haiphong. (VNA)