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Vietnam to build first industrial park for Chinese firms
24/4/2007 16:44

The first industrial park built entirely for Chinese enterprises is taking shape in Vietnam's southern province of Tien Giang, local newspaper Vietnam Investment Review reported today.
Construction of the Long Giang park in Tan Phuoc district of the province will begin in June this year with capital of US$100 million. Light industries, household commodities, machines and electrical equipment, wooden furniture, fishery and agricultural processing will be the main areas of investment in the park, said the report.
The reasons that made the project attractive to investors include convenient conditions such as low building cost and the location's suitability, Pham Van Khai, chairman of the Provincial Authority for Industrial Parks, was quoted by the newspaper as saying. He noted that the project site was neither a residential area nor agriculture land, which means the park's Chinese investors will not have to spend any money on land-clearance compensation.
In addition, the Tan Phuoc district is a convenient position for transportation as it is just three kilometers from the 1A National Highway and 40 kilometers from Ho Chi Minh City. As a part of the Go Cong Dong region bordering the shores of the sea, the park will be only 40 kilometers to Ba Ria-Vung Tau province, which creates an advantage for marine transport.
According to Vietnamese Ministry of Investment and Planning, up to March 22 of this year, the Chinese mainland is ranked the 14th among the economies which had FDI in Vietnam, with 434 projects and total registered capital of over US$1.18 billion.