Phu Tho to get 98 million USD investment

Hanoi (VNA) - The Prime Minister Nguyen Tan Dung signed off on a 2.2 trillion VND (97.6 million USD) investment package for infrastructure development of the Cam Khe Industrial Park in northern Phu Tho province, reported baochinhphu.vn.

The Viglacera Corporation, the investor in the industrial park project, will help the park increase efficiency and facilitate its management and operation.

The hope is that the project will stimulate the surrounding areas' socio-economy and further development of industrial parks in the province.

The project will occur in three phases, the first of which will complete developing 137ha by the fourth quarter of 2017. The second phase will add another 138.5ha by the first half of 2020. The third will quickly follow at the end of 2020.

The Prime Minister permitted the provincial people's committee to grant the licence to Viglacera and co-ordinate relevant agencies to assist in land clearance.

The Prime Minister asked the province and investor to attach special importance to devising job solutions for locals whose will be forced to move and for industrial workers in the area.

The Cam Khe industrial park is a multi-industry park utilising advanced technology and producing goods that qualify internationally.

The park will involve several industries: construction materials; electronics and high-end consumer goods; textile equipment; automotive; and agro-forestry machinery and processing.

The park is expected to create 25,000 to 28,000 jobs when it goes into operation.

There are currently seven industrial parks in the province, the biggest being Phu Ha and Cam Khe with 450 ha.-VNA