(Vietnamnews) - Construction begins at Phu Ha IZ

Covering more than 350ha in Phu Tho Town, which is located on the axis of the economic corridor connecting Ha Noi, Hai Phong, Lao Cai and China's Kunming City, the zone has total investment capital of over VND1.73 trillion (US$81.3 million). — Photo phuthopost

PHU THO (VNS) — Construction started on the first phase of the Phu Ha Industrial Zone yesterday in the northern province of Phu Tho.

Covering more than 350ha in Phu Tho Town, which is located on the axis of the economic corridor connecting Ha Noi, Hai Phong, Lao Cai and China's Kunming City, the zone has total investment capital of over VND1.73 trillion (US$81.3 million).

Phu Ha IZ, which has been prioritised for development this year with a vision toward 2020, has so far attracted two enterprises, including one Japanese firm operating in the garment sector, its investor Viglacera Corp said in its latest press release.

The zone planned to attract more enterprises operating in a wide range sectors, including IT, electronics, high quality construction materials, machinery and engineering, pharmaceuticals and food, it said.

"With its favourable location, essential infrastructure, cheaper land rental fees compared to other zones in the area, and a young and abundant workforce, the zone promises to become an attractive destination for domestic and foreign investors," it said. Viglacera Corp has developed seven industrial parks nationwide covering a total area of more than 2,230ha. — VNS