Prime Minister Nguyễn Xuân Phúc has approved the development of a seaport and industrial park complex in the Nhà Mạc marsh area, Quảng Yên town, northern Quảng Ninh Province.
The CDC Corporation headquartered in the Cayman Islands, the Middle Utilities Company Pte Ltd from Singapore and the Infra Asia Investment Limited in Hong Kong are the investors of the project.
The project will cover 1,193 hectares at a cost of VNĐ6.940 trillion (US$310 million).
The PM assigned Quảng Ninh People’s Committee to instruct the Economic Zone’s Management Board to review and grant the investment certificate for the project and consider the granting of investment certificates in stages and ask investors to follow their commitments as stated in the dossiers.
The province was directed to instruct relevant agencies to hand over land for the progress of the project and observe the Land Law and the Law on Forest Protection and Development when repurposing land.
The province is asked to require the investors to compile a report assessing environmental impacts and submit it to authorised agencies and to monitor the implementation of projects posing risks to the environment.
It will also instruct the Economic Zone’s Management Board to review and revoke investment certificates of cancelled projects to ensure effective land use and increase the occupancy rate at industrial parks.