Thursday, November 01, 2007

Vietnam's Dung Quat Economic Zone investment to be raised

Dung Quat investment to be upped
Investment into projects at the Dung Quat Economic Zone, the site of the country's first oil refinery, will be increased as part of a new plan announced by the Quang Ngai Province People's Committee Monday.

Around US$2 million per hectare of heavy industry and $1 million per hectare in light industry will be raised.

Nearly $1 million per hectare of infrastructure, and $700,000 per hectare of trade and services will also be raised, according to the provincial People's Committee.

Projects that will be given top priority include those with high investment capital, modern technology, low pollution and especially projects using local labor.

So far, 125 investment projects have been licensed, generating more than US$8.64 billion in registered capital at the site.