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Border economic zone attracts 16.5 billion USD in investment
Date: 4/25/2009 11:40:00 AM
Bo Y International Border Gate Economic Zone in Central Highlands Kon Tum province has so far drawn 24 investment projects with a total registered capital of 282 trillion VND (16.5 billion USD), according to the zone’s Management Board.

The most remarkable project is a six-billion USD international airport which is jointly developed by the Global Investment Enterprise Corporation (GIEC), Sem Tech of Malaysia and PMC Group of Singapore . The first phase of the project is expected to start soon and to be completed by 2011.

The GIEC has also started work on the construction of a five-star hotel in the international entertainment area with an initial investment capital of 800 million USD.

Other large projects included a trade centre valued at 296 billion VND (17.4 million USD) and a cassava powder plant capitalized at 80 billion VND (4.7 million USD), which has already become operational.

The Bo Y economic zone is situated at the T-junction between Vietnam , Laos and Cambodia , core of the economic development triangle that was endorsed by the prime ministers of Vietnam , Laos and Cambodia in Vientiane on November 21, 2004.

At a recent joint trip to the zone, Vietnamese Deputy Prime Minister Nguyen Sinh Hung and his Laos counterpart Somsavat Lengsavad both pledged to create favourable conditions for Bo Y’s development.
 

(Source:VNA)
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