Attracting strategic investors to Hue

High quality tourism projects

Located in Loc Vinh commune (Phu Loc), along Canh Duong beach, the Legendary Mediterranean resort invested by Vicoland Group will be put into operation by the end of 2019. The resort is projected to serve as a highlighted destination in the Chan May - Lang Co Economic Zone (EZ) as well a new high-quality tourist services provider in the area.

Constructing Terminal 3 of Chan May port. Photo: M. Le

Deputy General Director of Vicoland Group Mr. Ho Van Thu informed that with a total capital of VND 830 billion, the resort consists of 52 villas, a 110-bedroom hotel system and a 5-star integrated service center. Currently, the enterprise is finalizing furnishing 40 villas and 6 hotel blocks to put them into service by the end of 2019 and continuing to assemble 12 beachfront villas whose total investment up to date is roughly VND 650 billion.

Along with tourism projects, the industry and port infrastructure are also capitalized to help upgrade and perfect the EZ infrastructure. The project of Terminal 3 of Chan May port has completed the installation of embankment piles and the construction of the embankment and is now progressing with premise levelling, pile pressing and wharf construction with a total capital of about VND 350 billion. The terminal is expected to be put into operation at the end of 2019. Terminal 2, which is also under construction, will be concluded in early 2020.

Head of Thua Thien Hue Industrial and Economic Zones Authority (IEZA) Mr. Le Van Tue informed that with the goal of turning Chan May - Lang Co into an urban area, the body has been promoting the development of the EZ in a rapid but sustainable manner. In this light, the stress is put on the infrastructure enhancement in association with environmental management and protection, creating an appealing environment to attract tourists; at the same time, to boost up the projects on infrastructure of wastewater treatment, ports, and transportation in order to best meet the needs of businesses in terms of production, transportation, and services provision.

Currently, the project on establishing water drainage and wastewater treatment systems for the industrial park (IP) and a non-tariff area with a total investment of VND 267 billion has been finalized. Key projects such as Terminal 2 and 3 and the breakwater will be put into operation in 2020 to achieve the goal that by the same year, Chan May port would have 3 berths to accommodate up to 6 million tons of circulating cargo every year.

Completing industrial parks’ infrastructure

Following field trips and surveys, at the end of 2018, Phu Son Frit Technology Joint Stock Company decided to finance VND 100 billion to build a frit enamel factory with a capacity of 30,000 tons per year in Phu Da IP. The factory is projected to fully function in June 2019.

Packaging of frit enamel products in Phong Dien Industrial Park. Photo: Thanh Huong

The company’s Head of Administration Department Mr. Tran Huu Thien said that after 2 months of trial operation with a production capacity of 2,000 tons per month, it is expected that by the end of 2019, the company will continue to invest one more production line and raise the total capacity to 30,000 tons per year to fulfill its partners’ massive orders.

Along with attracting secondary investors, in 2019, the infrastructure of industrial parks is invested comprehensively; in which, all the 700ha in Phong Dien IP has got infrastructure investors with a total investment of over VND 1,500 billion; Tu Ha IP has attracted a number of infrastructure investors and committed itself to complete the items by the end of 2019 to appeal secondary investors while La Son IP is implementing the phase 2 and phase 3 of premise clearance with an area of 85ha.

Synchronous infrastructure has created favorable conditions for investment attraction in the IPs. Since the beginning of the year, the IPs have attracted three secondary investment projects with a total registered capital of over VND 600 billion.

Investing with focuses and on key areas

In the first months of 2019, Thua Thien Hue attracted many foreign investors and partners, mainly from the United States, South Korea, Japan, and China … to visit and explore the opportunities. IEZA has met and worked with strategic and financially capable investors such as Lavaya Company, Gami Group, UAM Industry Corporation, Mattel Group … to facilitate investment in large-scale projects, aiming at creating a greater momentum for the development of the industrial parks and economic zones in the coming time.

Following the completion of the infrastructure of the industrial parks and economic zones, IEZA is going to coordinate with the provincial Department of Planning and Investment to continue to deploy investment promotion plans with focuses and on key areas, stressing on attracting large, pervasive corporations in the region, infrastructure investors, high-quality tourism projects, and continue to attract reputable and competent secondary investors at the same time.

According to Mr. Le Van Tue, from now until the end of the year, resources will be focused on to invest in the development of tourism infrastructure and services in Lang Co township and speed up the construction of Nguyen Van pedestrian street to create a new highlight and generate pervasiveness to develop tourism services for the whole Chan May-Lang Co EZ.

By THANH HUONG