Local Investor Builds US$25 Mln IP in Southern Vietnam

The Ho Chi Minh City-based Tien Trung Trade and Production Co. Ltd. has recently kicked off construction of a US$25 million industrial park (IP) in the southern province of Ba Ria-Vung Tau, Vietnam News Agency reported on November 29.

 

The My Xuan B1 – Tien Hung IP, covering 200 hectares, will be the first zone financed by a private firm in the province.

 

Ba Ria-Vung Tau is now home to 12 IPs which have attracted more than 130 investment projects worth US$6.7 billion, including US$4.28 billion in foreign direct investment.

 

Projects of note in the province include a US$1.128 billion steel project by South Korea’s Posco and another steel plant valued US$500 million, a joint venture between the Vietnam Steel Corporation and India’s ESSAR Group.

 

The Dongnai-Ho Chi Minh City-Ba Ria-Vung Tau development triangle, located in the southern key economic zone, is attracting a large influx of local and foreign investments, particularly in the areas of processing industry, machinery manufacturing, electronics, steel and construction material production. (VNA)