Quang Nam provincial planning paves way for series of investment projects

March 26, 2024 | 16:46
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March has been a key month for Quang Nam People’s Committee after it announced the province’s official planning towards 2030 as well as the launch of National Biodiversity Restoration Year.
Quang Nam provincial planning paves way for series of investment projects
Over a dozen projects were given the go-ahead or research approval at the planning ceremony

Chairman of Quang Nam People’s Committee Le Tri Thanh said that Quang Nam had coordinated with ministries, central branches, and other localities in the region to evaluate the potential and limitations of the province.

“The planning demonstrates the will of Quang Nam to become a well-developed province by 2030, have a modern infrastructure network, and develop airports, seaports, logistics services, tourism, heavy industry, electricity, and gas at a regional level,” Thanh said.

To complete the draft planning, the province also organised conferences and seminars to consult local and foreign experts and businesses.

As an investor, Don Lam, general director of VinaCapital, said that the provincial plan was an important milestone, creating motivation for the province itself, and the whole eastern region to continue to develop.

“We believe in the potential for economic development of marine tourism in the east of Quang Nam, with the cultural and historical advantages of Hoi An and increasingly clear driving forces such as Cua Dai Bridge and the coastal road connecting Chu Lai Airport,” said Lam.

Quang Nam provincial planning paves way for series of investment projects
Quang Nam boasts superb connections thanks to its central location and coastal access

The upcoming new laws on land and real estate business also illustrate the government’s determination and direction on the development and diversification of tourism products and tourism real estate, Lam added.

To continue creating momentum for the eastern economic region of Quang Nam, Lam has proposed to promote the general and zoning planning for businesses to continue investing in construction and local socioeconomic development; as well as create conditions to turn the Hoiana project in southern Hoi An into a multi-functional coastal resort urban area.

“We want Hoiana to become a model project, piloting ‘golden visas’ for high-end and long-stay tourist groups,” Lam explained.

At the planning announcement ceremony, Quang Nam approved a handful of ventures and research agreements with the total registered capital at over $830 million. Truong Hai Group (THACO) was awarded investment certificates for seven projects in the industrial sector, while Bin Corporation JSC was given in-principle agreement to study Southern Thang Binh Industrial Park for infrastructure investment.

Speaking at the ceremony, Deputy Prime Minister Tran Luu Quang said that Quang Nam had been diligent, overcome difficulties, and created a favourable environment for investors.

“For localities that develop strongly and quickly, there are consequences. Maybe we will have shortcomings and sacrifices, but I hope that Quang Nam will overcome these and maintain a strong mindset to break through,” DPM Quang said.

Regarding logistics development, Tran Ba Duong, chairman of the board at THACO, said that the company was conducting research on the Cua Lo route at a cost of around $274 million. The company will research the opening of short routes, investing in the form of build-operate-transfer, and focusing on transport routes from southern Laos, northern Cambodia, and the Central Highlands to Chu Lai.

“The provincial planning is part of the vision to form a logistics centre in the region, which is feasible if the Cua Lo route is invested in and completed soon. We have high expectations for the logistics centre and I think we can do it,” Duong said.

Quang Nam provincial planning paves way for series of investment projects

Projects awarded policy approval, registration, or research agreements

- Expand and upgrade Chu Lai port ($66.2 million)

- Refrigeration electromechanical factory ($17 million)

- Passenger car electric wire factory ($19.42 million)

- High-end auto glass factory ($16.23 million)

- Automobile body frame components factory ($33.3 million)

- Tourist car interior factory ($22.7 million)

- Tourist car seat factory ($41.67 million)

- Thaco Industries research and development centre ($12.5 million)

- Cleaning equipment factory ($20.9 million)

- Super white floral glass factory ($34.25 million)

- Magnet manufacturing facility ($80 million)

- Guoguang Electric Co., Ltd. audio equipment manufacturing complex ($40 million)

- Solid plastic and metal products factory ($1 million)

- Arena Technologies video game chair and car seat production ($783,000)

- Infrastructure of subdivision 1 of Nam Thang Binh Industrial Park ($285.3 million)

- Industrial park infrastructure west of highway section through Thang Binh district ($145.8 million)

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Quang Nam’s planning is highly feasible, leveraging clear scientific arguments and demonstrating the strong aspirations of the province, according to People's Committee Chairman Le Tri Thanh.

Quang Nam approves projects worth over $800 million Quang Nam approves projects worth over $800 million

The central province of Quang Nam has issued approval to developers of 16 projects worth over $809 million in total.

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Holding trust in the provincial potential for marine tourism development, Vietnam-focused venture fund VinaCapital pledges to continue investing $1 billion in the locality.

EU and France provide $78.5 million for Quang Nam and Quang Tri to tackle climate change EU and France provide $78.5 million for Quang Nam and Quang Tri to tackle climate change

The central provinces of Quang Nam and Quang Tri will receive financial support worth €72.3 million ($78.5 million) from the EU and France to tackle the impacts of climate change.

By Thanh Pham

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