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Hải Phòng, Shenzhen start constructing common industrial park

VGP - The first industrial park, a joint-venture project between Hải Phòng City and China’s Shenzhen City, was groundbroken yesterday.

December 29, 2008 9:47 AM GMT+7

Assembling electronic products – one of spearhead industry in An Dương IP – Illustration photo 

Stretching out as far as 800 ha in Hồng Phong commune, An Dương District, the An Dương Industrial Park is the ever largest project in Hải Phòng.

Locating 20 km far from the city’s downtown, the project was invested by the Shenyue Company Ltd.

In the first stage of construction, US $200 million will be invested in building modern infrastructure and workshops which will be put into operation by 2012.

Enterprises engaging in such hi-tech fields as engineering manufacture, electronic assembly, garment, high-grade consumer products, and auxiliary materials will be prioritized to enter the IP. 

Once putting into operation, the IP is supposed to attract around US $5 billion investment from secondary investors, annually churning out US $3 billion as industrial revenue and generating 50,000 jobs for local residents.

Hải Phòng’s authority has rapidly completed necessary procedures and site clearance in order to facilitate the project.

By Kim Loan