This was announced on March 19 at a working session between local authorities and representatives of the project’s main investors, Hong Kong’s Luenthai Holdings Limited, VINATEX investment JSC and China’s Sanshui Jialida Textile Co, Ltd.
At the session provincial authorities were asked to create enough space and the best possible conditions for investors. They were also requested to grant a license to build a power plant and a port to meet the demand for the industrial park’s activities.
Doan Hong Phong, Vice Chairman of the provincial People’s Committee said that the province isfirmly committed to making sufficient space available by no later than the fourth quarter of this year.
Representatives of the investors said that that they anticipate obtaining sufficient space and commencing construction by the end of the year and begin adding secondary investors six months later.
The IP is expected to attract investors from Hong Kong, China and Taiwan in the field of textile, dyeing, leather, garment and support industries.
When fully operational, the IP will create industrial production value of US$3billion - 4 billion each year, contributing tax of some US$300-400 million to the state budget and generating160,000 jobs.