A ceremony was held in Tam Ky City on March 23 to begin work on the infrastructure of the Tam Thang Industrial Zone. — Photo nhandan.com.vn

QUANG NAM (Biz Hub) — Work began on the infrastructure of the Tam Thang Industrial Zone (IZ) in this central province on March 23.

Provincial authorities assigned responsibility for the project to the Chu Lai IZ Infrastructure Development Co Ltd. This project will cost VND360 billion (US$17.14 million) and cover an area of 200ha in Tam Ky City. The area is expected to be fully cleared for investments by June.

The authorities also asked the IZ Infrastructure Project Management Board to build a 5.8km four-lane road, with an investment capital of VND230 billion ($10.95 million), to connect the Tam Thang IZ with National Highway 1A.

The two investors are under the administration of the Chu Lai Open Economic Zone in the province.

In the next phase, 2016-20, the province will continue to raise funds of some VND415 billion ($19.76 million) to develop resettlement areas, waste treatment systems, and worker accommodations to complete the Tam Thang IZ.

Kim Nam Yuong, the managing director of the South Korea garment and textile association, said they have called upon investors from their country to invest in the IZ.

Quang Nam People's Committee standing Vice Chairman Dinh Van Thu said that South Korean garment and textile group Panko has pledged to build a 30ha production facility here with investment capital of some $30 million. Panko is expected to attract a few support firms, he added.

In a broader context, the Ministry of Planning and Investment and the committee have agreed to reserve VND700 billion ($33.33 million) to invest in Tam Ky City during 2016-20. — VNS