Thua Thien Hue attracts $2.8b investment in Q1

Thua Thien-Hue Province attracted 140 projects with total registered capital of VND64.3 trillion (US$2.8 billion) in the first quarter of this year.

Chan May -Lang Co Economic Zone. Thua Thien-Hue Province attracted 140 projects with total registered capital of VND64.3 trillion (US$2.8 billion) in the first quarter of this year.-Photo chanmaylangco.com.vn

This included 35 foreign-invested projects with total investment of $1.74 billion.

In the first quarter, provincial industrial zones bagged three more projects with total registered investment at VND1.24 trillion, the province said.

This year, the province expects to attract 20 projects to economic and industrial zones. To reach the goal, it has focused on administrative reform to create favourable conditions to lure investment, especially to economic and industrial zones.

Currently, the occupancy rate at Phu Bai Industrial Zone’s phase I and II is 98.5 per cent. The figures at Phong Dien Industrial Park’s zone B and Phu Da industrial park are 74 per cent and 42.5 per cent, respectively.

In the time to come, the province will pay attention to working with prestigious groups, infrastructure developers and investors with strong financial capacity, such as FLC Group, Vingroup, Bitexco, and Viglacera.

It will also prioritise cooperation with foreign organisations, such as the Japan International Cooperation Agency, Korea International Cooperation Agency and Japan External Trade Organisation, to enhance advertisement and investment promotion programmes.

In addition, the province will push to complete infrastructure at industrial zones to attract more investors.

The province is also providing funds for bomb and mine clearance for industrial park development. In addition, preference policies in land rental and corporate tax will be provided for investors.

For the Chan May-Lang Co Economic Zone, the province is focusing on supporting and creating favourable conditions for investors to expand projects, especially large ones. In addition, it will attract investment for the development of transport infrastructure in economic zones, especially breakwaters in the Chan May seaport.

At the same time, it will also focus on reviewing and dealing with projects that have shown slow progress or cannot be developed to make room for other projects.

by VIR