Date set for relocation of Biên Hòa 1 Industrial Zone
Date set for relocation of Biên Hòa 1 Industrial Zone
A date has been set to relocate factories and businesses in the Biên Hòa 1 Industrial Zone, according to Võ Tấn Đức, acting chairman of the Đồng Nai Province People's Committee.
Biên Hòa 1 Industrial Zone. — VNA/VNS Photo |
Phase 1 of the relocation is expected to be completed by the end of November this year, freeing up approximately 75.1 hectares in the southern part of the zone, which could affect up to 14 factories and businesses.
Phase 2 is expected to be completed before the end of next year.
The provincial authority had earlier approved a plan to transform the industrial zone into a new urban service-residential centre.
All relocation and compensation must be finished by December 31, 2025, Đức said. According to the committee, the industrial zone's relocation could cost the province up to VNĐ7.5 trillion, including compensation for nearby residential areas.
The Biên Hòa 1 Industrial Zone, first established in 1963, was among the first industrial zones in the country and is home to 76 factories and businesses.
