A model of Becamex Bình Định Integrated Township and Industrial Park. — Photo binhdinh.gov.vn

BÌNH ĐỊNH — Deputy Prime Minister Trịnh Đình Dũng has approved in principle the development of Bình Định Becamex Industrial Zone (IZ) in the central province of Bình Định, according to the province. 

Expected to cost more than VNĐ3.33 trillion (US$143 million), the IZ will span 1,000ha in Canh Vinh Commune, Vân Canh District. It will be developed by Becamex Bình Định JSC headquartered in the province's Quy Nhơn City. 

Of the project's total investment capital, some VNĐ500 billion will come from the project’s investor, more than VNĐ2 trillion from bank loans and the rest from other sources, online newspaper baochinhphu.vn.

The project must be executed within 10 years from the date its investment was approved.

The Deputy PM assigned the provincial government to manage site clearance and compensation and collect feedback from ministries and agencies during the execution of the project. 

The zone will be built under a co-operation agreement on socio-economic development between Bình Định and Bình Dương provinces. It is expected to help Bình Định create a breakthrough in socio-economic development, the provincial website quoted the committee's vice chairman Nguyễn Phi Long as saying.

The project is part of Becamex Bình Định Integrated Township and Industrial Park, which extends over 2,308 hectares. 

The province has invested some VNĐ1.5 trillion in developing infrastructure on the 13-kilometre-long Provincial Road 638 in the west to connect Becamex Bình Định Integrated Township and Industrial Park with Quy Nhơn City, according to the portal. — VNS