Business Business

03/06/2018 - 15:09

Hue and Big Projects

On these days, Vingroup is on the process of completing the last stages to put Vincom Plaza Hue into operation right on the 128th anniversary of Uncle Ho’s birthday (19/5/1890-19/5/2018). The Group will then put their five-star Hung Vuong Hotel into operation.

After Vingroup’s arrival to Hue, a number of other investors also choose this place for their investment.

Although the total investment of the project that Vingroup "pours" into Hue is not as big as those they have so far constituted in some other provinces,  but the fact that the Group has come and will “stay” with Hue not simply because of the project of building the trading center and the 5-star hotel complex proves that Hue is a "good land" for big investors.

This is proved to be more credible when Prime Minister Nguyen Xuan Phuc recently approved the policy of increasing the total investment into the delux Languna Lang Co Resort up to billion US dollars, and the more important thing is that the government also agrees to the policy of putting investment into casino business, a top type of service only available at fancy resorts.

The casino business only is a considerable source for the Province’s budget. Moreover, an increase of the total investment into the project to expand the delux resorts and fancy villas, with the number of rooms estimated to be about 5300, about 15 times as big as the current number, will bring a considerable revenue from accommodation services for the budget.

In addition to these projects, the province also owns other big projects with investments of from hundreds to thousands of billion VND like Kim Long Nam Resort in Chan May-Lang Co Economic Zone, for example, with a total investment of 3.7 trillion VND. The mentioned projects were already granted with the investment registration certificates  in 2017 and will soon be implemented this year.

Another example is the solar power plant in Ngu Dien area, with the total investment of more than 800 billion VND, which is now under implementation; or the project to upgrade the infrastructure of the Wharf No 2 with a total investment of more than 850 billion VND; or Vitto Ceramic Tiles Project with more than 610 billion VND going into it, and so on.

There are still some other projects with very much smaller investment that will bring qualitative changes in the tourism industry of the province, typically the project “ Hue 6-star Spirit Sanctuary Resort” now under construction in Huong Ho Commune (Huong Tra District).

Although invested with only more than VND 200 billion VND but this flow of fancy hotels within this resort  plots to  earn from each customer from several hundreds to thousands USD per night, the highest level of spending that no other local resorts have ever been able to reach. What deserves noticing is that although this project has not been completed, but the CEO of Trails of Indochina , Mr. John Tue Nguyen, a worldwide known  man in the field of tourism and also a native of Hue, has attracted enough tourists for a long time. Here can be mentioned many other projects in other fields like clean agriculture, cemetery park, etc.

All of what that have been mentioned  proves that there has been increasingly large number of investors coming to Hue  with large-scale projects that many other localities in the region and even in the country desire to do. Obviously, in order to attract  those investors, the provincial leaders and departments have had to made many great efforts.

Speaking at the conference on mission deployment in the Provincial Department of Planning and Investment earlier this year, Mr. Nguyên Van Cao, Chairman of the Provincial People's Committee said, “ In order to succeed in bringing the casino project to Hue, the provincial leaders and heads of various departments and offices had had to "cling on" for it for a long time at related offices of the central government in Hanoi.

To some investors, investment to put into  Hue may not make an as equal profit as in other places, but they choose Hue for a single reason than that no other places can have such a safe environment and hospitable people like Hue.

Talking about the Province’s point of view on investment call,  Mr. Phan Thien Dinh, Director of the Provincial Department of Planning and Investment, said that it does not matter where the investors come from (in or outside the province, in or outside the country). The key thing is that which investigators to choose and what project to be invested for the highest benefit of the Province.

It is not fair to favor investors in the province or the country while ignoring caliber investors and their projects. Obviously, the Province has to consider  each project and its purposes as well as the investors’ capacity with care so as to to be able to select the appropriate ones. However, the consistent view is that we never trade environment for projects, but select beneficial ones because of the Province’s and its people’s benefits, especially the those that cause as far less impact on natural resources and environment as possible.

Story and photo: Tam Hue

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