4:53:53 PM | 28/10/2008
South Korea’s IGS Group on October 27 broke ground on an industrial, urban and service zone in northern Bac Ninh province with total investment of US$240 million, state media reported.
The IGS Nam Son-Hap Linh zone covers 602.5 hectares of land, including 402.5 hectares for industrial park and the remainder for modern urban zone, industrial park management center, exhibition house, customer and investment office, business support service, transport center and other services.
According to Do Jun Ji, IGS president, the zone is expected to attract US$2 billion in foreign investment, 200 South Korean businesses and 100 U.S. enterprises, and provide jobs for 50,000 people.
The construction on infrastructure of the zone is scheduled to be completed in the third quarter of 2010.
As of September 22 , 2008, South Korea is the fourth biggest foreign investor to Vietnam with total registered capital of US$15.875 billion, behind Taiwan, Malaysia and Japan. (VNA, VIR)
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