The south central coastal province of Ninh Thuan plans to build what it calls an eco-urban area worth nearly US$1 billion in cooperation with a South Korean joint venture.
The eco-urban area, covering nearly 120 hectares, will include a bilingual (English-Vietnamese) education and training center and a specialty and a general hospital, besides other amenities, according to the plan.
Work on the project is expected to last six years and be carried out in hree stages.
The Ninh Thuan People's Committee has promised to simplify red tape and help the investor, MK International Corporation, access preferential credit.
MK International Corporation is a major provider of equipment and building materials, which is in partnership with IMI Vung Tau Corporation.