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$920 million invested in Thua Thien Hue IPs

Released at: 17:01, 10/09/2015

$920 million invested in Thua Thien Hue IPs

Province continues to build infrastructure to attract investment in industrial parks, with a target of $117.4 million to $140.8 million for this year.

by Hoai An

The six industrial parks in central Thua Thien Hue province have attracted a total of 92 investment projects with capital of VND19.6 trillion ($920.2 million) since their establishment, according to the Communist Party of Vietnam Portal, of which 70 projects belong to local investors and 22 projects are in foreign investment.

The province continued to build infrastructure to attract investment in industrial parks and aims to receive VND2.5 trillion to VND3 trillion ($117.4 million to $140.8 million) this year.

Thua Thien Hue province is implementing many preferential policies for investment in its industrial parks. For example, it will provide support of VND1 million ($46.5) per person for training courses for local workers in the first three years of operations. These projects must also employ a regular 200 workers on contracts of at least one year and pay social insurance as prescribed. Projects in infrastructure and industrial park construction will receive support relating to travel expenses to participate in foreign investment promotion activities under the province’s investment promotion plan, with support not exceeding VND50 million ($2,347) per enterprise for each trip.

The Phu Bai Industrial Park has attracted about 50 investment projects focusing on key areas such as yarn, garments, wooden handicrafts, building materials, ceramics, furniture, and beverages. One notable project is the expansion to the production line at the Phu An Yarn Company, with total investment of VND358 billion ($16.8 million). Phu Bai has a total area of 743.47 ha and is divided into four phases. The first three phases built technical infrastructure to meet the needs of investors. Infrastructure upgrades and expansions to the industrial park in the fourth phase, on a total area of 150 ha, have been invested by Trung Quy Investment Company and some 50 per cent is completed.

In the first eight months of the year revenue from production at industrial parks in Thua Thien Hue province reached over VND7.6 trillion ($357.8 million), an increase of 18 per cent. Export value was nearly VND329 billion ($15.4 million), up 22.7 per cent. Enterprises at its industrial parks were employing 17,850 workers. 

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