Taiwanese firm Wei Yu Engineering’s US$2.5-billion investment proposal in Ha Tinh Province must be approved by the Prime Minister, not the provincial government, said an official.

Illustrative image

Tran Tu Anh, director of Ha Tinh Department of Planning and Investment, told Dan Tri news website last week that the firm has proposed developing a livestock, food processing and pier complex in Vung Ang Economic Zone (EZ).

In a report sent to Ha Tinh, Wei Yu Engineering promises to respect Vietnamese and international environmental protection standards by applying advanced technologies.

The Ha Tinh government told the department to work with the departments of agriculture-rural development, transport, finance, industry-trade, construction, natural resources-environment and science-technology and the Vung Ang EZ authority to look into the project and report to the provincial authority.

According to Anh, the Taiwan firm’s proposal suits the provincial investment and economic development plans. The EZ needs to build 11 piers, of which six are under construction, and farming and food processing projects will create many jobs for locals.

However, environmental impact and limited land must be taken into account in the project appraisal process, he noted. Ha Tinh will consider giving Wei Yu Engineering nine months as provided by law to show the efficiency of the project.