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JICA project to boost Vinh Phuc investment

Update: October, 18/2011 - 09:48

VINH PHUC — Construction of a key road in northern Vinh Phuc Province's Me Linh new urban township was begun yesterday by the Japan International Co-operation Agency (JICA) and the provincial People's Committee.

The 15km road is one of five components within the purview of a US$151 million Japanese official Development Assistance (ODA) loan project signed in March 30, 2007. It is known as the Vinh Phuc Province Investment Climate Improvement Project.

Other project initiatives include the expansion of the water supply system and the improvement of sewage and waste water treatment both in Vinh Yen, and the rehabilitation of the power supply network in Vinh Yen and Phuc Yen town.

"Once the project is completed, it will help solve our current problems with power shortages, insufficient clean water, outdated waste water treatment and water drainage facilities, all things which are essential for every investor," said chairman of the Vinh Phuc People's Committee Phung Quang Hung at the event.

"Developing infrastructure to meet the growing demands of foreign investors has become one of the province's top priorities," added Hung.

JICA Chief Representative in Viet Nam Tsuno Motonori affirmed that improving the investment climate has been one of JICA's highest priorities in Viet Nam during the past several years.

Vinh Phuc Province, which is 60 km north of Ha Noi, is home to many big economic groups such as Japan's Honda and Toyota, Italy's Piaggio, Taiwan's Foxconn, Compal and Fullpower, South Korea's G.O. Max, Kumho and Lotte and Singapore's YCH and CPK Group.

The project is scheduled to be completed by July 2014. — VNS

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