Business Business

10/12/2017 - 15:05

Attracting more new projects

Up to now, the Chan May-Lang Co Economic Zone (CM-LC EZ) has attracted 43 projects with a total capital investment of nearly VND 40 trillion and aimed to grant new investment certificates to approximately ten projects by 2018.

More and more cruise ships dock at Chan May port. Photo: Duc Quang

Handling suspended projects

In 2017, along with the promotion of investment, the Management Board continued to review the delayed projects so as to have solutions to solve the deadlock and accelerate the progress, and resolutely handled the cases of inability to deploy the projects by revoking the investment license, then allocated them to potential investors at the same time. Accordingly, many projects have been accelerated and put into operation.

After a long period "taking no action", in early 2017, Mediterranean Legend Resort owned by Vicoland Development & Construction Group JSC kicked off and accelerated the construction. So far, the project has completed 40 villas, the external construction of two hotel blocks and auxiliary areas with a total capital of over VND 300 billion, expected to be operational from the beginning of 2018.

Deputy General Director of the company, Mr. Ho Van Thu emphasized that they chose the location for the large-scale project as it was a dynamic economic zone located between two tourist cities of Hue and Da Nang, which could welcome international visitors by sea. After the first phase put into operation, the company continued to invest in the second phase with a total capital of over VND 400 billion to turn the resort into an impressive destination of the CM-LC EZ.

Currently, many large-scale projects have been built in the CM-LC EZ, such as Suoi Voi tourist area project of Hoa Lu-Hue Trade and Service Investment Co. Ltd. with the registered capital of VND 218 billion; the project of producing 65,000 tons Frit per year owned by Frit Hue Joint Stock Company with the registered capital of VND 175 billion; and the granite tile factory with the capacity of 7.2 million square metres per year owned by Vitto Phu Loc Company with the investment capital of VND 610 billion.

The project of Berth No. 3 - Chan May Port is being accelerated to complete by 2019

Promoting investment with focus and key points

Deputy Head of Management Board of the Provincial Economic Zone and Industrial Park, Mr. Le Van Tue said that in order to create a healthy investment environment, to continue attracting major investors to the CM-LC EZ, they would review the delayed projects to find out the solutions; at the same time, they would also resolutely handle the cases of inability to deploy the projects and hand over the projects to potential investors. It was expected in the third quarter of 2017, the Board would reclaim the projects of Pegasus Lang Co resort and Thuan Phong international tourist area, and the remaining projects under the direction of the Provincial People's Committee.

By October 2017, nearly 10 major investors have come to study and explore investment opportunities in CM-LC EZ, which are JW Company (Korea) studying the projects of infrastructure investment and automobile accessories factory; Sunjin Group (Korea) cooperating with Phuong Trang Group to invest 3 big projects with the total investment of over VND 10 trillion, namely the distribution warehouse and trade of petroleum products at Chan May port, manufacturer of buses at the non-tariff zone and amusement park in Lap An lagoon.

The project on building Berth No.2-Chan May Port, which has just been licensed to investors, Chan May Port Joint Stock Company with a total capital of VND 849 billion, will be constructed in February 2018. Along with Berth No. 1 in operation, in September 2018 Berth No. 3 owned by Hao Hung Hue One Member Limited Liability Company will be completed, and Berth No.2 in early 2020. By 2020, Chan May Port will have three berths, meeting approximately 6 million tons of cargo through the port each year.

In 2018, Chan May port breakwater project from government bond fund in the period of 2016-2020 will break ground. Currently, the project has been approved with a total investment of nearly VND 850 billion, the implementation period is from 2017 to 2020. In particular, the demand for capital from government bonds in 2018 is VND 200 billion to carry out the compensation, assistance and resettlement.

The Management Board continues to implement the investment promotion plan with focus and key points; focusing on working with regionally-influential large corporations and secondary investors with prestige and capacity; focusing on the disbursement of investment capital of large-scale projects such as phase 2 of Laguna Lang Co 2, projects of Berth No.2 and Berth No.3-Chan May Port, Minh Vien Lang Co international tourism complex, Phong Phu Lang Co golf resort, and the project on investing in infrastructure of Sai Gon-Chan May industrial zone-non-tariff area.

Story and photos: Thanh Huong