US$151.5 Million to Improve Vinh Phuc Investment Environment

The Japan International Cooperation Agency (JICA) and Vinh Phuc People’s Committee, on October 17, kicked off the construction of a backbone road in Me Linh new urban township, which marks the beginning of a comprehensive project to improve the investment environment in Vinh Phuc province.

 

The 15k long road in Me Linh urban township is one of the 5 components within Vinh Phuc Province’s Investment Climate Improvement Project. The Japanese government provides 11,718 million JPY (US$151.5 million) in ODA loan to this project.

 

Vinh Phuc province, which is 60 km north of Hanoi, is home to many big economic groups such as Japan’s Honda and Toyota, Italy’s Piaggio, Taiwan’s Foxconn, Compal and Fullpower, South Korea’s G.O. Max, Kumho and Lotte and Singapore’s YCH and CPK Group. Developing infrastructure to meet growing demand of foreign investors has become one of the province’s top priorities. “In that context, the JICA funded project is essential to the province” said Mr Phung Quang Hung, Chairman of Vinh Phuc People’s Committee “Once completed, the project helps us solve our current shortcomings such as power shortage, insufficient clean water, outdated waste water treatment and water drainage facilities… which are essential for every investor.”

 

The Vinh Phuc Investment Climate Improvement Project will be completed by July 2014.