Monday, April 23, 2012

Singapore to build 5th industrial park in Vietnam

HANOI: Singapore has been given the green light to build a fifth industrial park in Vietnam, worth over US$330 million.

The 600-hectare project in Quang Ngai province will be developed along with a 520-hectare commercial and residential site.

It comes as both countries mark closer cooperation, with President Tony Tan Keng Yam's inaugural state visit.

Dr Tan witnessed a ceremony where Singapore was awarded certification to build the new industrial park in central Vietnam.

Sembcorp will develop, market and manage the project.

It said that about 30 to 40 parties have already indicated interest in the park.

Phase one of the park should take shape within three years, when the first factories, and perhaps profits, will spring up.

As Vietnam develops, the project is expected to feed rising demand in domestic consumption and create more jobs for the local workforce.

- CNA/ir

View the original article here

Soource From Channel news Asia

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