BIDV to invest $90.5 million in Quang Binh

August 21, 2015 | 10:20

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The Bank for Investment and Development (BIDV) has signed an agreement providing a VND1.9 trillion (US$90.5 million) loan for three projects in the central Quang Binh Province.

The bank said the credit agreement will be used for developing an infrastructure project in Hon La Industrial Zone No. 2, the My Canh-Sunrise commercial apartment and the Le Thuy Garment Factory. Photo nhandan

The bank said the credit agreement will be used for developing an infrastructure project in Hon La Industrial Zone No. 2, the My Canh-Sunrise commercial apartment and the Le Thuy Garment Factory.

Earlier this month, Cathay United Bank, the Taiwan commercial bank, agreed to loan BIDV US$105 million in a Memorandum of Understanding on comprehensive co-operation.

According to the latest report, the central province has granted 13 investment licences for investors, with total capital of VND8.5 trillion ($405 million), for projects in infrastructure, tourism and real estate.

Sun Group also plans to develop two projects – the luxury Bao Ninh-Hai Ninh tourism resort and Phong Nha-Ke Bang tourism complex – with a total investment of VND5 trillion ($238 million).

Chairman of the provincial people's committee Nguyen Huu Hoai said the province has called for investment in 35 key projects to develop infrastructure, industrial zones, trade, tourism and production in the coming years.

He said the province has been building itself up as a major tourism centre in Viet Nam and Asia.

VNS

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