Huge FDI projects on right track

The implementation of l arge foreign invested projects such as the Nghi Son, Long Son and Vung Ro oil refineries, LG, and Samsung have been proceeding as scheduled, the English language news website VietNamNet Bridge reported.
The implementation of l arge foreign invested projects such as the Nghi Son, Long Son and Vung Ro oil refineries, LG, and Samsung have been proceeding as scheduled, the English language news website VietNamNet Bridge reported.

The Manpower Group, for example, started recruiting manpower for the 9 billion USD petrochemical project in Nghi Son in Thanh Hoa province on June 26.

The first batch of workers will begin their works in February 2015. The investors are hurrying to start the petrochemical project, which is scheduled to put into operation in 2017.

The construction of the Nghi Son oil refinery commenced last October after a long period of preparation.

As of May 31, 2014, this project had disbursed 1.6 billion USD, including 676 million USD in the first five months of 2014.
In a recent meeting with leaders of Thanh Hoa province, Kazutoshi Shimmura, General Director of Nghi Son Refinery said the first credit package worth about 600 million USD was transferred to Vietnam.

"This shows commitment and determination to successfully implement this project of our company and contractors. Currently, we and contractors are urgently implementing the project,” the General Director said.
"The technical design and equipment manufacturing are being carried out by contractors in Japan and the Republic of Korea and they will be transferred to Vietnam in the near future", he added.

Thanh Hoa provincial authority has asked the local agencies to remove difficulties to facilitate the project implementation.

Similarly, leaders of Ba Ria - Vung Tau province have asked relevant agencies to speed up site clearance for the construction of the 4.5 billion USD Long Son petrochemical project in the first quarter of 2015.

Despite difficulties after the riots in mid-May, the 9.9 billion USD Formosa steel complex project in Ha Tinh province is still being implemented.

A few days ago, the chairman of Formosa went to Ha Tinh to check the progress of construction and committed that the group would continue to focus its resources to implement this project.

Other large-scale projects are also under construction, such as the 1.5 billion USD project of LG in Hai Phong, the 1.3 billion USD project of Samsung in Thai Nguyen and the 3.2 billion USD Vung Ro oil refinery project in Phu Yen.

In particular, the LG project will go into operation this year and the Samsung Electro-Mechanics project will yield the first products this October.

In addition, Samsung Display plans to invest 1 billion USD in Bac Ninh to build a phone screen factory, which is expected to begin operation in early 2015.-VNA

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