Bank of China provides $14 million loan for Long Giang Industrial Park Construction Project

In 2008, Bank of China (Ho Chi Minh City Branch) issued a $14 million loan to Zhejiang Qianjiang Investment Management Co., Ltd., a private Chinese firm, for the Long Giang Industrial Park Construction Project in Vietnam. The borrowing terms of the loan are unknown. In 2008, Zhejiang Qianjiang Investment Co., Ltd. invested roughly $100 million to develop a 600-hectare industrial park within Tan Lap 1 Commune within Tan Phuoc District. This industrial park is a national-level overseas economic and trade cooperation zone approved by China's Ministry of Commerce (MOFCOM). The industrial output value of all enterprises in the park was ultimately expected to exceed $2 billion. The park obtained an investment license in 2007, began construction in May 2008, and passed a confirmation assessment by China’s Ministry of Commerce and the Ministry of Finance in July 2011.

Additional details

1. This project its also known as the Long Giang Industrial Park Project and the Long Giang Special Economic Zone Project. The Chinese project title is 越南龙江工业园 or 龙江工业园. 2. The Chinese name for Qianjiang Investment Management Co., Ltd is 前江投资管理有限责任公司在越

Number of official sources

4

Number of total sources

7