Vietnam to build first industrial park for Chinese firms
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.