Galileo International Plans US$1.6 Bln Hi-tech City in Central Vietnam
Galileo International Group of the U.S. has plans to invest US$1.6 billion to develop a hi-tech city in the first phase in Vietnam’s central province of Phu Yen, the provincial Department of Planning And Investment said.
The U.S. group wants to lease an area of 7,000 hectares for the project which include a university, a commercial center and a film area and may cost a total of US$10 billion.
The department said local authorities have just approved to allocate an area of 3,000 hectares for it.
The U.S. group is working on plans and will submit to the provincial people’s committee for approval.
Site clearance is expected to begin in the third quarter this year. The first phase is scheduled for completion in 2015. (Investment)
Vietnamese
