The central province of Nghe An granted the investment licence of VSIP Nghe An Industrial-Urban-Service Park to the Vietnam-Singapore Industrial Park Joint Venture Company on June 30.

Covering 1,475 hectares, the project has a 3 trillion VND (137.5 million USD) investment for its first phase that will be implemented in 750 hectares in Vinh city and Hung Nguyen district.

The project, part of the cooperation programme between the Vietnamese and Singaporean governments, is scheduled to be expanded to Nam Cam industrial park in the Southeast Economic Zone of Nghe An in the second phase.

A ground-breaking ceremony is expected to be held on September 16 this year.

Currently, ground clearance for the project is being sped up, with 490.62 hectares of farmland approved by the Prime Minister.

As of the end of June, Nghe An has granted and adjusted investment licences for 96 projects totalling 27.88 trillion VND (1.32 billion USD), including 75 new projects.

The province has also received 5 projects funded by non-governmental organisations with a total investment of nearly 477, 000 USD.-VNA