Plans for Shipbuilding Industrial Park in Thuy Nguyen District

The government of northern port city of Hai Phong on Thursday unveiled a detailed plan to develop a $49 million shipbuilding industrial park in Thuy Nguyen district. The Vinashin-Shinec shipbuilding industrial park (SIP) was formed in September last year and run by the Shinec Trading and Manufacturing Joint Stock Company, an affiliate of the Vietnam Shipbuilding Industry Group (Vinashin). SIP has so far attracted seven major projects, including a joint venture between Vinashin and Finland’s Mac Gregor group, a $100 million project of the Swedish company, IKEA, and a steel structure plant of Vinashin. The park is offering many incentives, including low land rent rates for investors who sign land leasing contracts before December 2007 as well as assistance for customers in projects and business establishment, and workforce training. Source: TTXVN