Freight depot project receives green light

Bac Ninh (VNA) - The northern province of Bac Ninh on Feb. 19 granted a license
to Singapore 's Mapletree Investments Pte. Ltd for a 115 million USD investment
project to construct an international freight depot in the VSIP Bac Ninh industrial,
urban and service park.

Chua Tiow Chye, General Investment Director of Mapletree Investments Pte. Ltd,
said that the project is part of his company's expansion and development strategy
in Vietnam .

The project is Mapletree's third warehouse in Vietnam and its first in the
northern region.

With warehouses in the southern province of Binh Duong and the northern
province of Bac Ninh, Mapletree can provide effective services for its
Vietnamese customers, Chua Tiow Chye said.

Huynh Quang Hai, General Director of the Vietnam-Singapore Urban and Industrial
Park Development Joint Stock Company (VSIP JSC), was pleased at the long-term
business relationship with Mapletree. The Singaporean company was one of first
guests of VSIP JSC following the establishment of VSIP I in Binh Duong.

VSIP's Bac Ninh project, its first industrial, urban and service complex built in
Vietnam , commenced at the end of 2007. It has since attracted total investment
of more than 300 million USD from 18 local and foreign investors.-Enditem