South Korea’s C&N Vina Hue Co., Ltd has been licensed to carry out a VND368 billion ($19.36 million) infrastructure project at Phong Dien Industrial Park (IP) in Vietnam’s central province of Thua Thien-Hue. The firm plans to start construction of the 100.7-ha Area C of the IP in the third quarter of this year and finish it by late 2014, the Dai Doan Ket newspaper reported June 17, citing the IP management board. Phong Dien IP covering 400-ha site is divided into three areas namely Area A, B and C. The Area A and B are invested by Thua Thien-Hue Construction Company and South Korea-based Prime Group’s Prime Thien Phuc Joint Stock Company respectively. In addition to Phong Dien IP, Thua Thien-Hue province has two others namely 818.76-hectare Phu Bai IP and 250-hectare Tu Ha. As of end-2009, the province licensed 70 foreign direct investment (FDI) projects totaling $2.45 billion. It targets between 15 and 20 FDI projects totaling $500 million in 2010.
