New economic zone gets go-ahead

The Government has approved plans to establish an economic zone in central Quang Binh Province that covers six coastal communes in the province’s Quang Trach District.

The 10,000ha zone will include 1,100ha of island area. It will function in several sectors including sea ports, trade, tourism, and seafood production and processing. It will also serve as the economic centre of the coastal central province.

WB to support capital to build 4 new bridges in HCM City

Le Thanh Liem, manager of HCM City urban upgrading project management said that the World Bank has accepted to finance construction of 4 new bridges.

These 4 new bridge includes Kieu Bridge (Distric 1 – Phu Nhuan district), Bong Bridge (District 1 – Binh Thanh district), Le Van Si Bridge (District 3) and Hau Giang bridge (District 6). Total investment for these bridges is estimated at $40 million. Construction is expected to be started in 2013 and accomplished in 2014.

Industrial complexes attract more than 112tr dong investment capital

Evaluating the development efficiency of industrial complexes with economic development of localities, representative of Local Industry Department (under Ministry of Industry and Trade-MoIT) said that in the past years, Vietnam’s industrial clusters have lured 7,300 investment projects with a total registered capital of up to 112 trillion dong, at the same time, attracted 460,000 labourers. Industrial areas with high average occupancy ratio where Central Coast (55.5%), Red River Delta and North Centre (52.5%) and the Mekong Delta (50.4%).

Chu Lai EZ approves 14 new projects

The Chu Lai Open Economic Zone (EZ) has granted licenses to 14 new projects over the first eight months of this year, worth a combined US$271 million, fulfilling 90 per cent of its yearly target, the board has announced. Up to August, the EZ-located enterprises have generated $38.4 million from exports.

PM ratifies ADB-funded projects

The PM approved the technical assistance project for the establishment of the information system for water resources, which is funded by the Asian Development Bank (ADB) through a non-refundable aid of US$800,000. The Ministry of Natural Resources and Environment will assess, ratify and realize the project.

The PM also ratified the project of establishing sewage treating stations and providing waste collecting equipment for poor people living in the suburbs of Dong Hoi City. The project is financed by the ADB with an aid of US$3.51 million.

US businesses seek investment opportunities in Vinh Phuc

A delegation of US officials and businesses paid a working visit to northern Vinh Phuc province to study investment environment in the province. The province’s leaders introduced the guests to local socio-economic situation, strengths and development orientations and pledged to create favorable conditions for US businesses to invest in the fields of hi-tech industry and car manufacturing. The US delegation headed by Sherman Katz, a Senior Advisor of the Centre for the Study of the Presidency and Congress, also made a fact-finding tour to the South Dam Vac urban area, Piaggio Vietnam limited company and Ba Thien industrial park in Vinh Phuc.

US$84 million for low-carbon agricultural support

Prime Minister Nguyen Tan Dung has approved the low-carbon agricultural support project (LCASP) with a total capitalization of US$84 million. Of the fund, US$74 million will be provided by the Asian Development Bank (ADB) as a preferential loan.

The government leader asked the Ministry of Finance to cooperate with relevant ministries and agencies in building financial mechanisms for the project. The project aims to reduce agricultural pollution by treating livestock wastes through the expanded use of biogas and bio-slurry processing technologies.

Kien Giang licenses $13.8m animal feed plant

The Kien Giang Economic Zone Authority has recently granted an investment licence to Kien Giang Animal Feed Limited Co to develop a VND290 billion (US$13.8 million) animal feed plant in the provincial Thuan Yen Industrial Zone. Covering a total area of 2.8ha, the plant will provide 150,000 tonnes of products annually when it comes into operation in 2015. Its construction is expected to begin in April next year.

Company chosen to manage rare earth mine

The Government has approved Lai Chau - Vimico Rare Earth Co to manage Dong Pao rare earth mine, the largest in Viet Nam, says the company’s director Bui Van Huyen. The mine covers a total area of 11sq km with estimated reserves of 5 million tonnes.

Circular N7263/VPCP-KTN permitted the company to apply for a mining license from the Ministry of Natural Resources and Environment. Huyen said Viet Nam Coal-Mineral Industries Holding Corporation Limited (Vinacomin) would assist the company with its license application.