Taiwanese firm proposes to invest US$2.5 billion in Vung Ang EZ

The central province of Ha Tinh People’s Committee has assigned authorized agencies to carefully study a proposal by Taiwanese Wei Yu Engineering Co., Ltd to invest US$2.5 billion in Vung Ang Economic Zone.

Workers on the construction site at Vung Ang EZ (Photo: SGGP)

The committee instructed the agencies to report their opinions and advices in writing to the committee before June 30.

According to the proposal, the company will invest US$1 billion in breeding and food industry and US$1.5 billion in Vung Ang seaport.

Specifically, it will build quays at Vung Ang port and logistics area over 96.8 hectares, develop breeding and vegetable farming projects over 800 hectares; build livestock feed, cooking oil, meat processing and frozen food plants; construct a operation center and accommodation site for its engineers and experts over 80 hectares.

The project is expected to provide 10,000 jobs in the first phase and 30,000 in following phases.

The provincial Department of Planning and Investment said that Vung Ang port building and breeding and cultivating development suit the province’s plan. However, the investor has not specified environmental protection measures in its report.

By Duong Quang – Translated by Hai Mien

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