Construction of an US$1 billion urban and industrial complex is to start in Thuy Nguyen district, northern Hai Phong port city next year.
The 1,600 ha complex, the largest foreign invested project in Hai Phong so far, is wholly funded by the Vietnam-Singapore Urban and Industrial Development Joint Stock Company.
Once its first phase becomes operational in 2015, the project is expected to attract a substantial amount of investment, thus helping to develop the city’s northern area in accordance with its strategy up until 2025.
The complex is the second of its kind in northern Vietnam to be invested by the Vietnam-Singapore joint venture, the first is located in Bac Ninh province.
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