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Dairy project invested in Russia approved

Jan 13th at 09:58
13-01-2016 09:58:20+07:00

Dairy project invested in Russia approved

The PM has approved a project on raising cows and proceducing milk on an industrial scale in Russia, which is invested by the Nghe An Sugar Ltd. Company.

The PM assigned the Ministry of Planning and Investment to issue a certificate on overseas investment registration for the project as regulated.

The State Bank of Viet Nam was asked to direct and monitor closely to help the company conform with current regulations on foreign exchange management with a focus on appropriate directions on investment effectiveness and capital mobilization capability in each investment phase.

The Ministry of Labor, Invalids and Social Affairs was required to direct the company to employ local workers to work in the Russia project as regulated.

The VND11.25 trillion (US$500 million) project will be implemented in five districts in Moscow, Russia.

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