A 1,500-hectare textile industrial zone is expected to be built in Nghia Hung district, Nam Dinh province, by the end of 2014.

The project, jointly invested by Luenthai Company of Hong Kong (China), the Vietnam National Textile and Garment Group (Vinatex) and China’s Jialida Company, is worth 400 million USD.

During a working session with provincial officials, representatives of the investors proposed the province hand over the land shortly and introduce preferential policies for the financers.

They also asked for the permission from the province to build a power plant and a wharf to help the operation of the industrial zone.

Doan Hong Phong, Vice Chairman of the provincial People’s Committee, said the province will hand over the cleared space to the investors by the last quarter of this year, adding that Nam Dinh would create a good working environment for the investors.

Authorities suggested that the investors establish a joint venture, prepare all financial resources for the project and secure the ecological environment of Nam Dinh’s sea territory.

Representatives of the investors said they would start construction of the industrial zone right after the land is made available, and estimated that they would draw secondary investment after six months.

The key sectors of the industrial zone are textile and leather. The zone is expected to generate 3 to 4 billion USD of revenue each year, pay 300- 400 million USD of tax and attract 160,000 workers.-VNA