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Economy

Vietnam speeds up big projects to heal economy from pandemic

Newly approved $9bn resort had been waiting for approval for years

HANOI -- Vietnam has approved its biggest commercial project this year, as the government seeks to maintain a record pace of public and private investment since January to help the economy emerge from the coronavirus pandemic.

Prime Minister Nguyen Xuan Phuc signed off on a $9.3 billion tourist resort led by Vingroup, Vietnam's largest private conglomerate, during the past week. Foreign backers also will participate in the development, regarded as one of the largest investments in the country in recent years.

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