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NEW UPDATES Asean Affairs  30 September 2015  

Increasing numbers of industrial parks draw foreign investment

There are many new industrial parks (IP) among 299 measuring about 84,000 ha in Viet Nam, the Department of Economic Zones Management under the Ministry of Planning and Investment said.

In September alone, the country had four newly established IPs of Thanh Hai in Ninh Thuan Province, Chu Trinh in Cao Bang Province, Chan Hung in Vinh Phuc Province and Mong Hoa in Hoa Binh Province.

In addition, three other IPs expanded their operations, including the one in Quang Tri, Nghe An and Nghi Son of Thanh Hoa, in the first nine months of the year.

The department said that from January to September, the country's IPs attracted US$8.7 billion in foreign direct investments (FDI), posting 12 per cent year-on-year increase. The FDI into the IPs accounted for 67 per cent of the country's total FDI of $11 billion in the nine-month period and 59 per cent of the total 1,400 projects.

By the end of this month, IPs in Viet Nam witnessed the setting up of 5,946 FDI projects with total registered capital of $95.9 billion while their disbursement was $55 billion.

The IPs also attracted 361 projects from domestic investors with total registered capital of VND53.2 trillion ($2.36 billion) in September. Another 97 projects increased their registered capital to a total VND9.3 trillion ($413.3 million).

These figures brought the total investment from local investors in the first nine months of the year to VND62.6 trillion ($2.78 billion), down 11 per cent from the same period last year and accounting for 70 per cent of the set target.

It said the newly registered projects during this the period were mainly in garment and textiles, electronics, manufacturing and processing sectors.

Construction starts on Hue industrial park

The People's Committee of Thua Thien Hue Province yesterday organised a ground breaking ceremony for the construction of the Phong Dien – Viglacera Industry Park (IP).

The 284 ha project, developed by Viglacera Real Estate Company, is located in Phong Dien District, 37 km north of central Thua Thien Hue Province.

The project is a part of Phong Dien IP, one of the six industrial parks approved by the Prime Minister in the master plan for the economic-social development of Thua Thien Hue in 2015, outlook to 2020.

With a total investment capital of VND680 billion (US$ 30.3 million), the park is expected to lure investors from clean industries such as power, information technology, food and beverage, garments, mining and processing of sand.

The park has enormous advantages for transportation as it is 45 km from Phu Bai airport, 40 km from Thuan An port and 70 km from Chan May deep-water port which can serve vessels of up to 30,000 tonnes.

The park also connects to National Road 1A and the North-South railway.

Besides, this area also has a number of universities and specialised institutions, which can provide robust labour forces with low cost, according to Viglacera Corporation Deputy Director Tran Ngoc Anh.

Established in 1974, Viglacera has expanded its business from a construction materials manufacturer to a real-estate investor with 12 social housing projects, four commercial buildings and seven industrial parks nationwide. It has industrial park projects covering a total area of 2,000 ha include Tien Son, Yen Phong, Thuan Thanh IPs in northern Bac Ninh province; Hai Yen, Dong Mai in Quang Ninh and Phu Ha of Phu Tho provinces.

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It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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