16:55 | 16/12/2016 Investment
On December 9, a ground-breaking ceremony was held to relaunch construction of – An Duong Industrial Zone – the first joint venture between the northern Vietnam city of Hai Phong and the Chinese city of Shenzhen.
The 196-ha An Duong industrial zone will be dedicated to clean industries such as mechanical manufacturing, electronics, clothing and the production of other consumer exports.
The first phase of the project, which focuses on infrastructure and production facilities, was originally planned to finish by 2012 at an estimated cost of US$200 million.
Following the failure of that effort, Chinese-based Shenzhen International Holdings on December 9 relaunched a scaled down version of the effort. The first phase is currently budgeted at US$40 million and is now expected to be completed by October 2017.