BIDV provides $35 million to VSIP Quang Ngai

December 17, 2014 | 10:09

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The Bank for Investment and Development of Vietnam (BIDV) has allocated $35 million to building technical infrastructure at VSIP Quang Ngai, according to a contract signed between the bank and Vietnam Singapore Industrial Park (VSIP) on December 8.

BIDV will provide VND2 trillion ($94 million) in soft loans to firms with existing projects in the industrial park or are going to carry out projects in the park.

VSIP Quang Ngai is VSIP’s fifth park in Vietnam and the first in the central region. Construction started in September 2013 and at present 300 of its 1,700 hectares has completed infrastructure and 10 investors have committed $220 million. Three factories have so far been completed and are expected to start operations within this month.

VSIP Quang Ngai aims to create 20,000 jobs in the central region by the end of next year.

By By Kim Tran

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