Deputy Prime Minister Tran Hong Ha has signed Prime Ministerial Decision No 1664/QD-TTg, approving the investment policy for the Rach Bap Industrial Park expansion project in southern Binh Duong province, and Decision No 1665/QD-TTg, approving the investment policy for the Phuoc Binh 2 Industrial Park project in neiboring province of Dong Nai.

The Rach Bap project will cover 360 ha in An Tay and An Dien communes in Ben Cat town and Thanh Tuyen and An Lap communes in Dau Tieng district.

The total investment capital for the project is more than VND1 trillion (around $40.6 million), with VND157 billion ($6.16 million) to be contributed by investor.

The project is expected to be completed within 48 months from the date the investor is handed over the land by the State. The operating term of the project will last until December 13, 2055, with investment incentives implemented in accordance with current law.

The Phuoc Binh 2 Industrial Park project will span 287.3 ha in Phuoc Binh and Tan Hiep communes, Long Thanh district, Dong Nai province. The operating term of this project is 50 years from the date the investment policy is approved and the investor is simultaneously approved.