Thua Thien-Hue draws 88 foreign direct investment projects

July 20, 2016 | 19:00

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As many as 88 foreign direct investment projects, with total registered capital of USS$2.26 billion, have been launched in this central coastal province to date.

A view of Banyan Tree Residences of Laguna Lang Co resort complex in Central Thua Thien Hue Province. - Photo lagunalangco.com

This makes the locality the 6th most attractive destination for foreign investors in the central region.

Large group companies operating in the locality include Singaporean Banyan Tree Holdings Limited, HBI Group from the United States and Charoen Pokphand Group from Thailand.

The $850-million Laguna Lang Co resort complex, Banyan Tree's first fully integrated world-class hospitality development project in Viet Nam, is among the standout projects in the province.

The Royal Caribbean International Group also spent $5 million to upgrade Wharf No. 1 at Chan May Port, enabling the port to serve large cruise ships, such as Quantum of the Seas and Oasis of the Seas.

According to Nguyen Dung, vice chairman of the provincial People's Committee, the province welcomed over 75,000 sea arrivals in 2015 and expects to receive 150,000 sea-bound tourists seeking to visit the former imperial Hue City through Chan May Port this year.

The province plans to call for further investments to preserve the ancient imperial relic sites in Hue City and develop the Lang Co-Chan May bay.

Along with building a comprehensive infrastructure, the province has streamlined administrative procedures under a "one-door" mechanism to encourage further foreign investment in the locality.

It also urges all stakeholders to complete the infrastructure for major projects offering competitive products, such as the garment support industrial park, Chan May-Lang Co economic zone and Bach Ma National Park.

Top priority has been assigned to the study of additional suitable mechanisms and policies to lure foreign investors, especially large and strategic enterprises such as Bitexco, Vingroup and Banyan Tree.

Meanwhile, revamped investment promotion methods and the issuance of a list featuring the province's prioritised projects for 2016-2020 have also been given due attention.