Prime Minister Pham Minh Chinh has given the go ahead to the investment policy for infrastructure construction and trade at Phung Hiep industrial park (IP) in Hanoi with a total investment capital of over VND2.93 trillion ($115.3 million).

The IP covers 174.88 ha in Thuong Tin outlying district.

Hoa Phu Invest Ltd.Co has been licensed to invest in the project.

Construction of the project will last no more than 36 months since land is handed over to the investor.

The PM asked the municipal authorities to allocate industrial land fund at Phung Hiep IP for small- and medium-sized enterprises and firms which are eligible for land support to lease for production.