A memorandum of understanding (MoU) on the construction of a 100 million USD high-rise workshop project in Yen Binh Industrial Park (Yen Binh IP) in the northern province of Thai Nguyen was signed in Thai Nguyen city on March 20.

The signatories were representatives from the Yen Binh Investment and Development Joint Stock Company (Yen Binh JSC) and the Gyeongmin Engineering and Architecture Company (GEAC) of the Republic of Korea.

Under the MoU, Yen Binh JSC will rent 100,000 sq.m of land in the park to GEAC to execute the project. It will also support the RoK partner in applying for an investment certificate so the company can carry out the project as soon as possible.

According to Vu Van Hop, Chairman of Yen Binh JSC, the project aims to meet growing demand from the RoK’s small and medium-sized enterprises (SMEs), which are operating in high-tech sectors.

Once completed, it will be able to accommodate between 100 and 150 RoK businesses.

In order to lure more investment into the park, Yen Binh JSC is hastening the construction progress of a 150,000 cu.m per day water plant in the park.

The province is also building a road linking Hanoi and Yen Binh IP, with a total investment of 200 billion VND.

In 2013, Thai Nguyen led localities nationwide in FDI attraction, raking in about 3.3 billion USD, making up 16.1 percent of the country’s total figure of 21.6 billion USD.-VNA