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Border economic zone attracts 16.5 billion USD in investment

In Business, Economy on August 7, 2008 by viCheth

Vietnam Net Bridge (Hanoi), 07/08/2008

Bo Y International Border Gate Economic Zone in Central Highlands Kon Tum province has so far drawn 24 investment projects with a total registered capital of 282 trillion VND (16.5 billion USD), according to the zone’s Management Board.
The most remarkable project is a six-billion USD international airport which is jointly developed by the Global Investment Enterprise Corporation (GIEC), Sem Tech of Malaysia and PMC Group of Singapore . The first phase of the project is expected to start soon and to be completed by 2011.
The GIEC has also started work on the construction of a five-star hotel in the international entertainment area with an initial investment capital of 800 million USD.
Other large projects included a trade centre valued at 296 billion VND (17.4 million USD) and a cassava powder plant capitalised at 80 billion VND (4.7 million USD), which has already become operational.
The Bo Y economic zone is situated at the T-junction between Vietnam , Laos and Cambodia , core of the economic development triangle that was endorsed by the prime ministers of Vietnam , Laos and Cambodia in Vientiane on November 21, 2004.
At a recent joint trip to the zone, Vietnamese Deputy Prime Minister Nguyen Sinh Hung and his Laos counterpart Somsavat Lengsavad both pledged to create favourable conditions for Bo Y’s development.

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