Shimizu Corporation from Japan and the N&G Corporation have signed a contract to build the Southern Hanoi Supporting Industries Park (HANSSIP), an urban service and residential area for workers, at a cost of nearly US$1 billion.
HANSSIP will be built over an area of 650 hectares, and once operational, it will support 200 enterprises in the park such as manufacturing units, garment and textile enterprises, leather shoe companies, electronics, computers, as well as automobile assembly lines.
Investors of HANSSIP will be given special incentives and assistance in financing, recruitment, training, technology transfer and sales.
Shimizu Corporation is a major construction group from Japan and is involved in many large projects in Vietnam.
Japan is the fourth biggest foreign investor in Vietnam with more than 1,600 projects worth $23.6 billion. In the first two months of this year, Vietnam attracted about $1.2 billion of foreign direct investment, of which 80 per cent came from Japanese investors.
