On February 15, the authorities of Vietnam’s Hai Duong province collaborated with Indian investors on a plan to develop a pharmaceutical park in this northern province, with a total investment of USD 10-12 billion.
According to the Saigon Times report, on January 26 this year, representatives of India’s Sri Avantika Company, through Vietnam’s Ambassador to India Pham Sanh Chau, visited Hai Duong and worked with the provincial government to conduct an investigation to to develop a project.
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Sri Avantika Contractors Limited Company is one of the leading developers of pharmaceutical and hi-tech parks in India. It has signed an agreement with the Dai An Urban-Industrial Zone Development Corporation to build and establish pharmaceutical companies in Vietnam.
After researching a number of sites in Vietnam and considering the advantages of each site, the Indian investors decided to develop the pharmaceutical park in Hai Duong. They proposed to build the facility in Gia Loc, Thanh Mien and Binh Giang districts, with a total project area of about 960 hectares.
The investors said the proposed location is convenient because it is connected to the Hanoi-Haiphong Expressway and is close to the capital Hanoi and the port of Haiphong. The project is located in a zoned area that can be approved by the government and developed into a specialized economic zone with many investment incentives.
During the working session, Pham Xuan Thang, secretary of the provincial party committee and chairman of the provincial government, said the project fits with the development orientations of the province. The province promised to optimally support the investor in the implementation of the project, the Saigon Times reported.
