Thua
Thien-Hue FDI rises six-fold
VietNamNet Bridge – Thua Thien-Hue Province has attracted
foreign direct investment (FDI) worth more than US$2.3 billion
this year, six times last year’s figure.
Investors have disbursed around $300 million so far, according
to the province’s Department of Planning and Investment.
Authorities attributed the strong rise to the improvement
in the province’s investment environment and administrative
procedures and its economic potential. Thua Thien-Hue has
been the most attractive destination in the central region
this year.
Most of the investments have gone into hospitality with investors
from Korea, Taiwan, Hong Kong, Singapore, Japan, US, and Germany
proposing to build a range of resorts.
Among the larger projects are South A,D&C Co.’s $428 million
resort complex to be finished in 2016.
A number of projects are also being expanded, including the
$25 million Conic Lang Co resort complex and the $312.5 million
Lap An golf and resort complex.
The province has granted a licence to the Singapore-based
Banyan Tree Group for a $276 million hospitality project in
Phu Loc District. The complex will have a five-star hotel,
an exhibition and conference center, and villas.
To attract investment, Thua Thien-Hue has built and put into
use many large infrastructure projects in recent years like
the Phu Bai International Airport, Chan May Seaport, and Hai
Van Tunnel.
The province said it would continue to improve its investment
environment until 2020 to attract more FDI, and has called
for more investment in hospitality and high-tech industries
in the Chan May-Lang Co economic zone, Phu Bai Industrial
Park, and Bach Ma Tourist zone.
Foreign investments have created around 8,000 jobs so far.
The Viet Nam Chamber of Commerce and Industry last year ranked
Thua Thien – Hue 15th on the competitiveness index out of
the 64 cities and provinces.
Le Dinh Khanh, deputy director of the province’s Department
of Planning and Investment, says the province hopes to climb
to 12th or 13th this year.
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