PM Approves Establishment of US$50Mln Northern IP
The Prime Minister Nguyen Tan dung has okayed the plan to build an industrial park with a total capital investment of VND800 billion (US$50 million) in northern Hung Yen province, state media said.
The Minh Quang IP will be also named in the list of Vietnam’s key industrial parks prioritized for the construction by 2015 under the Prime Minister’s decision.
The 350ha IP will become the 10th IP invested by the Vietnam Investment and Development Group in the northern region.
At present, some big Japanese investors and other foreigners have registered to invest in the Minh Quang IP, according to the new source.
Hung Yen is now home to five industrial parks including Pho Noi A (390ha), Pho Noi B (250ha), Nhu Quynh A (50ha), Nhu Quynh B (50ha) and Minh Duc (200ha).
Hung Yen attracted 17 foreign direct investment projects in the first six months this year, worth US$147 million, ten times higher than last year.
The largest projects among those are a US$70 million tourism project by South Korea’s Bridge Inter-Line Leisure Co. Ltd, the Japan’s Vinax porcelain plant capitalized US$25.7 million and the Chinese-invested KESDA automobile parts project costing US$16 million. (Economy & Urban Area)
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