Prime Minister Nguyen Xuan Phuc attended the groundbreaking ceremony for a VND8.1trn (USD344m) agricultural-forestry industrial park in Quang Nam Province on March 28.
Prime Minister Nguyen Xuan Phuc attends the groundbreaking ceremony in Quang Nam Province on March 28
A port project that can receive ships of 50,000 tonnes and the dormitory for workers are parts of Truong Hai Auto Corporation's (Thaco) expansion plan that covers 115 hectares and costs VND1.6trn (USD69m).
The Agricultural-Forestry Industrial Park covers 451 hectares and costs over VND8.1trn. It is also invested by Thaco and expected to be completed in 2022. The area will focus on the agriculture and forestry including research and development of plant varieties, technology and farming techniques, harvesting, processing and distribution.
It will improve the planting areas to supply for businesses in Vietnam's Central Region and Central Highlands, Laos and Cambodia.
The PM praised Truong Hai Auto Corporation's contribution to the economic zone, saying that its industrial production value last year reached VN42trn (USD1.8bn) and contributed VND16trn to the state budget while providing jobs to nearly 9,000 people.
"Chu Lai Economic Zone will not only be Vietnam's car manufacturing hub but also for furniture manufacturing and high quality agricultural and international forest product processing centre," he said.
Chu Lai is a successful example of a comprehensive economic community that can attract and keep businesses working in the area. According to Phuc, industry experts investing in agriculture and forestry will help deal with issues where farmers have bountiful crops but face low prices.
