Deputy Prime Minister Tran Hong Ha has signed a Prime Ministerial Decision approving the investment policy for the Vinh Quang industrial park (phase 1) in northern Hai Phong port city.

The project covers 226.01 ha in Vinh Bao district.

Total investment capital is estimated at VND3.55 trillion ($138 million). Of which, the investor will contribute VND536.1 billion ($21 million).

The decision approves Idico Vinh Quang JSC as the investor of the project.

The Ministry of Planning and Investment was requested to be responsible for appraising the investment and exercising State management over industrial zones, according to the Investment Law and related legal documents.