Expansion of Yen Phong I Industrial Zone to bolster investment in Bac Ninh by $10 billion.
Expansion work started on March 7 at the Yen Phong I Industrial Zone in northern Bac Ninh province with investment of VND3 trillion ($134.58 million) from the Viglacera Corporation.
Mr. Tran Anh Tuan, Director of Viglacera Infrastructure Development and Investment, expects the 314-ha expansion will make Bac Ninh become an electronics - telecommunications, high-tech, and green industry hub in Vietnam as it targets to attract $10 billion in additional investment.
Yen Phong I lies within the Yen Phong Viglacera Industrial Zone, which was built in 2005 on an area of 658.71 ha and has attracted major investors such as Samsung, Orion, Dongsin, Mobase, Dawo Vina, and Hanso. Many South Korean and Japanese investors have found the Yen Phong Viglacera Industrial Zone to be an attractive investment destination.
Deputy Minister of Construction Le Quang Hung said that Yen Phong Viglacera is one of the most efficient industrial zones in Vietnam because of its high investment capital per hectare.
The industrial zone made major contributions to Bac Ninh’s export value in 2015, of $28 billion, and also provided employment for 64,000 workers, including 4,000 indirectly.