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Chinese groups plan to invest in Thai Nguyen
Three major corporations from China are planning to pour around 2 billion USD into Vietnam’s northern Thai Nguyen to turn it into an eco-industrial city, said a local official.
Thai Nguyen’s Planning and Investment Department Director Nguyen Duc Minh said local authorities recently signed a memorandum of understanding on the project with representatives of China ’s Shan Shan, Sun Khun and Honghui groups.
The Chinese investors pledged to submit the project feasibility study to the province for consideration by October at the earliest.
The planned eco-industrial city is expected to cover 1,500-2,000 ha. It will feature a state-of-the-art manufacturing area, a scientific-technological area, a hi-tech experimental research area, a physical architectural area, a traditional industrial park, a trading and entertainment centre, and villas.
According to the department, Thai Nguyen currently houses 13 Chinese-invested projects with a combined registered capital of 18 million USD. Of these, 10 projects have been put into operation and the others are waiting for site clearance.
The projects, focusing on mineral processing, fertiliser and drinks production, and entertainment services, have helped to promote the local socio-economic development, create jobs and encourage the inflow of foreign investment into the province.
VNA
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