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Construction starts for largest IZ in northern province

Work started on April 27 for the construction of Quang Chau Industrial Zone in the northern province of Bac Giang by the Sai Gon-Bac Giang Industrial Zone Joint Stock Co, an affiliate of the Sai Gon Investment Group.

The 426-hectare industrial zone will be built at a cost of 800 billion VND (50 million USD) in Viet Yen district. It is just 33 km far from Ha Noi and Noi Bai international airport, 100 km from Cai Lan and Hai Phong sea ports, and 110 km from the Huu Nghi border gate to China.

The IZ, the largest in the province, was designed to accommodate up to 200 factories and generate more than 40,000 jobs with annual operating revenue in the hundreds of billions VND.

The chairman of the Sai Gon Investment Group management board, Dang Thanh Tam, said the Quang Chau IZ was oriented to attract companies involved in mechanics, electronics, automation, auto assembly, and other high-tech industries. The group plans to establish representative office in Singapore, Taiwan, Japan, the Republic of Korea ( RoK), the US and the EU to promote the zone.

The Sai Gon group has an ambitious plan to turn Quang Chau IZ into a world-class investment destination, and plans to spend more than 1 trillion VN (63 million USD) on an urban area surrounding the zone complete with employee apartments, schools, health care clinics, a bank, and gymnastics centres, he said. The company will also build infrastructure including roads, water utilities, power grids, and telecommunications networks, he added.

The Sai Gon-Bac Giang Company is also scheduled to sign a deal with the Malaysian VS Company, a supplier of electronic components, to lease 400,000 sq.m., while the HCM City Association for IZ Investors also registered to lease 100 hectares at the zone.

Vietnam Agency - (28/04/2006)

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