Kicking off Becamex Binh Dinh Industrial, Urban and Services project

The prime minister approved the investment policy of Binh Dinh Industrial Zone, kickstarting one of the key projects in the local socio-economic development plan.

According to Binh Dinh People's Committee, on February 18, the prime minister signed Decision No.270/QD-TTg approving the investment policy for the construction and commercial operation of infrastructure of Becamex Binh Dinh Industrial Zone (IZ), to be developed by Becamex Binh Dinh JSC.

The project will cover an area of 1,000 hectares in Canh Vinh commune, Van Canh district.

The project will have a total investment capital in excess of VND3.333 trillion ($144.9 million), VND500 billion ($21.74 million) of which will be investor’s equity and over VND2 trillion ($86.96 million) commercial loans, while the remaining VND833 billion ($36.2 million) from other sources. The project will run for 50 years from the date the investment policy is issued.

Along with this, to support investor, Binh Dinh has invested nearly VND2 trillion ($86.97 million) to complete the western ring road (DT 638) running more than 14.3km, connecting Quy Nhon city to Canh Vinh commune (Van Canh district).

Binh Dinh People's Committee has approved the overall plan of compensation, support, and resettlement value to deploy the project.

Not only of strategic importance to the socio-economic development of Binh Dinh province, the Becamex Binh Dinh Industrial Park, Urban and Services project is also a project under the agreement on socio-economic development between Binh Duong and Binh Dinh provinces in the period 2017-2021.

The project aims to attract investment effectively, creating a breakthrough in the socio-economic development of Binh Dinh as well as the development of Nhon Hoi Economic Zone.