Thua Thien-Hue sets to draw 10 trillion VND investments

A view of Hue city

Priority will be given to investments in the sectors of its strengths like tourism, real estate, IT, high technology, healthcare, education, high-tech agriculture and support industry.

According to Phan Thien Dinh, Director of the Investment Promotion and Business Support Centre and Director of the provincial Department of Planning and Investment, by the end of this year, the province will work to attract prestigious domestic investors, who are credible partners of domestic and foreign banks and investment funds.

It has held investment promotion campaigns in such traditional markets as Hong Kong (China), Japan, Singapore, Thailand, Europe, the Republic of Korea, and the US, and in the countries which could benefit from free trade agreements that Vietnam has inked.

The province’s agencies have proactively evaluated potential, market and investment promotion trend as well as built a database in service of tourism promotion, particularly for the Chan May-Lang Co economic zone, industrial parks, An Van Duong new urban area and Hue city.

Along with enhancing training to improve local staffers’ capacity of investment promotion, the province has paid due attention to supporting businesses in studying legal regulations, policies and investment procedures as well as carrying out their projects after receiving investment license.

Thua Thien-Hue has secured 40.6 trillion VND (1.74 billion USD) in investments so far, including more than 3.2 trillion VND (137 million USD) landed by domestic investors and 1.6 billion USD by foreigners.

Phong Dien solar power plant, with a capacity of 35MW, is a notable project. It was invested by the Gia Lai Electricity JSC at the total cost of nearly 1 trillion VND (42.83 million USD). The 48-hectare factory was constructed in January this year and began operating on October 5.

The plant is designed to produce 60 million kWh of electricity each year and is expected to greatly contribute to local socio-economic development. It is set to expand its capacity by another 29.5 MW in 2019.