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Malaysia to improve transport in Quang Tri   2009-02-16 - VNS

Malaysia’s Giant Group Ltd signed a memorandum of understanding yesterday on three major transportation infrastructure projects in the central province of Quang Tri.

Under the document, the My Thuy deep-water seaport, the Quang Tri airport and the Lao Bao-Dong Ha railroad would be developed. The seaport is expected to cost US$1.8billion.

Quang Tri People’s Committee Chairman Le Huu Phuc pledged to create favourable conditions for the Malaysian group to quickly realise its investment goals.

Giant Group President Mohammad Fadzwi Bin Hamidun, who led a business delegation on a three-day visit to the province, thanked Quang Tri for facilitating Giant Group’s investment and pledged to actively prepare to implement the projects upon receiving approval from the Vietnamese Government.

As of July 2008, total Malaysian investment in Viet Nam amounted to US$7.9 billion, spread over 272 projects, making Malaysia the sixth leading source of foreign investment in the country.

Major Malaysian-invested projects include the Noi Bai Industrial Zone in Ha Noi, the Massda Industrial Zone in Da Nang, two hotel joint ventures in Ha Noi, and such recent projects as Gamuda’s Yen So Park development project comprising a sewage treatment plant and commercial development, and S P Setia property project in Phu My Hung in the southern province of Binh Duong. The top project, a university urban area in HCM City by Berjaya Leisure, is being developed at a cost of $3.5 billion.

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