Japan Funds $120M to Develop Infrastructure in Vietnam Province
The Japanese government has decided to provide $120 million in official development assistance (ODA) for infrastructure development in Vietnam’s northern province of Vinh Phuc.
The ODA, funded through the Japan Bank for International Cooperation (JBIC), will go to the construction of a key road in Me Linh district and expansion of the water supply systems and sewage and liquid waste treatment systems in Vinh Yen city.
The funding will also finance the upgrade of a power grid network in Phuc Yen township and improve abilities of the local authorities in managing and attracting investments as well as providing supporting services for investors.
As of July 6, Vinh Phuc province had 113 valid foreign direct investment (FDI) projects totaling $2.18 billion, including 15 valued at $623.73 million invested by Japanese companies.
With the impressive figure, Japan ranked 2nd in total pledged capital and 3rd in total projects among 11 countries and territories making direct investment in the Vietnamese province.
Vinh Phuc recently received the prime minister’s permission to build 11 new industrial zones (IZs) between 2015 and 2020, which will be promising destinations for foreign investors. (VNA,
www.aip.gov.vn)
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