Thua Thien-Hue attracts $96m investment

A view of Chan May Port in central province of Thua Thien-Hue. The province has attracted 11 more projects with total registered capital of over VND2.18 trillion (US$96 million) during the first ten months of this year.- Photo thuathienhue.gov.vn

So far, industrial parks (IPs) and economic zones (EZs) in the province have attracted a total of 147 projects with total registered capital of VND65.75 trillion. This includes 34 foreign-invested projects with total registered capital of $1.37 billion.

Notable licensed projects include the Suoi Voi ecological tourist project, invested in by Hoa Lu-Hue Investment, Trading and Service Co Ltd, with registered capital of VND218.2 billion, spanning an area of 51.1ha. The other is a granite tile factory, owned by Vitto Phu Loc Company, with a capacity of 7.2 million sq.m of tile per year and registered capital of VND610.9 billion, spanning an area of ​​10ha.

Of the total registered capital poured into the province in the first ten months of this year, capital worth VND2 trillion was disbursed. This figure for the whole year is estimated to reach VND2.6 trillion, equivalent to 74.3 per cent of the yearly plan.

In the last two months of this year, the Management Boards of Thua Thien-Hue IPs and EZs will give licences to four more projects with total registered capital of VND6.5 trillion.

They comprise the Dang Kim Long Thua Thien - Hue tourism service complex invested by Dang Kim Long Co Ltd, with registered capital of VND3.7 trillion; the expansion project of the Mediterranean Legend Resort owned by Vicoland Development & Construction Group JSC, with registered capital of VND1.8 trillion; the urban area and tourism project backed by Vinaconex’s Infrastructure Development and Investment Construction JSC, with registered capital of VND908 billion; and a project producing textile raw materials financed by Song Thien Long Co Ltd, with registered capital of VND37 billion.

Chan May – Lang Co economic zone

The Chan May – Lang Co Economic Zone in Thua Thien – Hue province has so far attracted 43 projects with total investment of nearly VND40 trillion.

Among them is the second phase of the Laguna eco-tourism site, worth some $1.1 billion, developed by Singapore’s Banyan Tree Group and a consortium of others run by the Saigon Investment Group and the Viet Nam National Oil and Gas Group.

Another is Chan May Port’s Wharf No 2 project backed by Chan May Port Joint Stock Company with registered capital of VND849 billion, spanning an area of ​​14ha. Construction of the wharf will begin in February 2018.

In September 2018, Chan May Port’s Wharf No 3 will be set up by the Hao Hung Hue One Member Limited Liability Company. It is expected that by 2020, Chan May Port will have a total of three wharfs, enabling it to serve large cruises and accommodate vessels of up to 50,000 DWT (deadweight tonnage).

Chan May Port is located between the two largest cities in the central region – Hue and Da Nang. The port also lies on the main sea route linking Singapore, the Philippines, Hong Kong (China) and Viet Nam. It is among 46 seaports in Southeast Asia selected by the Asia Cruise Association as a stopover for cruise ships.

The port can now accommodate vessel of up to 30,000 DWT and cruise ships carrying 3,000-4,000 passengers each.

In 2018, the Management Board of Chan May - Lang Co Economic Zone will strive to lure investment into 18 new projects in the fields of industry, tourism, infrastructure of industrial parks, non-tariff areas and urban areas, with total estimated capital of VND5 trillion.

Thua Thien – Hue Province will manage to increase the occupancy rate of Chan May - Lang Co EZ to 32 per cent in 2018.

In order to support businesses in attracting investment, the Management Board of Chan May - Lang Co EZ has focused on creating favourable conditions and removing difficulties and obstacles for investors in order to make sure that the projects are implemented on schedule. For large projects, the board has set up working groups, in co-operation with the investor, local People’s Committee and related departments and agencies to quickly resolve issues arising in site clearance.

In 2017, together with the promotion of investment attraction, the Management Boards of Thua Thien-Hue EZs and IPs have repeatedly reviewed delayed projects to timely and resolutely handle cases of projects that show signs of inability to be implemented, and withdrawing investment licences if needed to re-allocate them to other potential investors.