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Southeast Asia

Vietnam to construct US$160m industrial zone

HANOI - Vietnam's Binh Duong province has announced plans to build a state-of-the-art industrial zone to boost economic growth.

Prime Minister Phan Van Khai approved the 4,300-hectare project, which will include industrial, business and residential developments.

Several investors have jumped aboard the project, which is worth about VND2.484 trillion (US$160 million).

The developments will be linked by highways to the Tay Nguyen (Central Highlands), the Ho Chi Minh City seaport, the future home of Long Thanh International Airport and the trans-Asia route to Cambodia.

The project is similar to one in My Phuoc, where housing, entertainment and recreational facilities have been built inside the industrial zone to serve future residents. The project's 1,000-hectare residential area will house about 120,000 people.

Residents will have access to administrative and cultural facilities, schools, hospitals and an international trade center. A series of greenhouses and an eco-tourism center also will be built there.

A site for the project has been chosen. Residents living in the areas will receive compensation if they have to leave to make room for the project.

Binh Duong province is a key component of the southern economic region, posting an industrial output worth VND16.863 trillion last year.

More than 2,000 local businesses and about 700 foreign projects have been approved to operate in the province, creating 200,000 jobs.

The industrial zone will be the 11th in the province. The infrastructure has been completed on nine. There will be 13 industrial zones in the province by 2010, as outlined in the provincial development master plan approved by the prime minister. The zones will encompass 6,200 hectares.

(Asia Pulse/VNA)

Sep 27, 2003

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