Business Business

15/07/2017 - 08:18

Destination for investors

Thua Thien Hue, with great potential, strength and improved investment environment, is becoming the destination for many investors, including big corporations such as Vingroup, Bitexco, Nguyen Kim…

Vicoland takes the lead in investing in  apartments for people with low income.

Besides some projects which have been carried out effectively, Hue now has some projects implemented quite well. One typical example is the complex of Vincom Trade Center and Hung Vuong 5-star hotel, invested by Vingroup Corporation at the junction of Hung Vuong-Ha Noi-Dong Da street. It is expected to be inaugurated in April 2018 and put into full operation in June 2018.

Bitexco Group’s The Manor Crow Hue is available for purchase at phase 1, with 43 commercial townhouses and 24 duplex villas right on To Huu street, opposite Nguyen Tri Phuong secondary school. At present, all of the civil work has been mostly done, and the investor is completing some final parts to handover to customers in the coming time. At phase 2, the investor planned on building a complex of 17 floors, including parts such as shopping mall, cinema, gyms, swimming pool, high-end apartments…, with a total investment of more than 600 billion VND.

After successfully deploying two blocks of low-income apartments in An Van Duong new urban area, Vicoland group has developed a chain of low-income houses with 5 blocks on the whole project, with a total investment of more than 227 billion VND. Following this project, other investors such as Xuan Phu Investment Joint Stock Company, Aranya Investment Joint Stock Company also invest in social housing projects. Investors such as Hue Apecland JSC, Anivest JSC are also implementing quite well projects of multi-functional commercial apartment complex, Thuy Van complex, with the total investment of hundreds of billions of VND. Some major corporations such as BRG, Nguyen Kim JSC and projects with foreign investment capital are investing in many fields in Hue.

Phan Thien Dinh, Director of the Department of Planning and Investment (DPI), said that departments and sectors are constantly striving and taking care of attracting enterprises to invest in Thua Thien Hue with favorable mechanisms and policies. In addition to the establishment of the assisting and consulting team with all related local departments to deal with problems which may arise when enterprises invest in Hue, the leaders of departments, such as those of DPI, are ready to “roll up their sleeves” to deal with procedures together with investors to attract investment from major groups such as Vingroup, Bitexco, Nguyen Kim…to Hue.

Chairman of the Provincial People’s Committee Nguyen Van Cao said that he had three trips abroad to call for investment in Thua Thien Hue. He also took many trips to Hanoi and Ho Chi Minh city to organize and attend conferences related to the promotion of investment, attracting large enterprises from both North and South Vietnam to Hue. As a result, since the beginning of this year, there have been some enterprises coming to Hue looking for investment opportunities such as investors from Korea, Singapore, Thailand…

Passengers to Hue through Phu Bai International Airport

There are also many domestic investors coming to Hue. The Investment Promotion Conference held in May 2017 in A Luoi District was more successful than expected when many enterprises were granted investment certificates, with a total initial investment of hundreds of billions of VND, which is concrete evidence of the policy of continuously reforming administrative procedures and improving investment environment to attract enterprises to Thua Thien Hue. Also at the conference mentioned above, Vice Chairman of the Provincial People’s Committee Nguyen Van Phuong committed to always work with enterprises, to surmount difficulties for them to carry out their projects in a convenient way.

In terms of infrastructure, Thua Thien Hue is carrying out a series of projects to bring about the best conditions for enterprises coming to Thua Thien Hue such as expanding and upgrading ports at Chan May-Lang Co deep water Port, opening new flying routes from Hue to major cities in and outside of the country and vice versa, expanding important routes, opening Phuoc Tuong and Phu Gia tunnels and other categories to make Hue become a destination not only for tourism but also for investment and development.

Box: “In the province, there are 56 investment projects reaching and exceeding the milestones of progress, with a total investment of nearly 12,000 billion VND. In addition, there are 7 projects which approved the investment research policy, with a total investment of more than 5,000 billion VND and dozens of projects accelerating their progress, with a total investment of thousands of billions ofVND. That is not to mention foreign-invested investors such as Laguna Lang Co luxury resort of Banyan Tree Group, and recently, the investor has asked to raise the total investment to two billion USD, including the category of investing in casino.”

By Tam Hue

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