Central province attracts $5.8b

Friday, Jan 11, 2019 08:00

An industrial complex at the Chu Lai Open Economic Zone in Quang Nam Province. The province has attracted US$5.8 billion from foreign direct investment projects. — VNS Photo Cong Thanh

The central province of Quang Nam granted 26 new foreign direct investment (FDI) projects with total captial of nearly US$300 million in 2018, bringing the total number of FDI projects in the province to 169, worth $5.8 billion.

Vice chairman of the provincial people’s committee, Huynh Khanh Toan, held a press conference on Wednesday, stating that the province also granted investment licences to 64 domestic investment projects worth VND6 trillion ($265 million) in total.

He said most of the major projects are based in the Chu Lai Open Economic Zone (OEZ), creating 21,000 jobs for local and neighbouring provinces.

Toan said the province has developed 55 industrial complexes and nine industrial parks to offer investment opportunities.

The province, which is home to UNESCO-recognised world heritage sites such as Hoi An and My Son Sanctuary, as well as world biosphere reserve Cham Islands-Hoi An, hosted 6.5 million tourists, of which 3.8 million were foreigners, marking growth of 21.5 per cent over last year.

Labourers work at a factory in an industrial park in Quang Nam Province. — VNS Photo Cong Thanh

In 2018, the Vinpearl Group put into operation the first stage of Vinpearl Quang Nam Resort Complex on 179ha in Thang Binh District with total investment of VND4.8 trillion ($212 million).

Local Truong Hai company, in co-operation with Japanese car producer Mazda, also inaugurated the second Mazda plant in the province with total investment of VND12 trillion ($520 million), producing 100,000 cars for both domestic and export markets, Toan added.

According to the provincial report, the $4 billion Nam Hoi An Integrated Resort, invested by VinaCapital and Gold Yield Enterprises Corporations, will open soon.

Quang Nam also plans to upgrade Chu Lai airport to make the province a key destination and logistics centre for foreign investors in the central region, and link the economic zones of Quang Nam, Quang Ngai and Da Nang.

Budget carrier VietJetAir and US partner Parsons Brinckerhoff have proposed a master plan for upgrading the airport in three phases – from now until 2020, 2020-2025 and beyond 2025 with an estimated VND2.5 trillion ($111 million) from the provincial budget.

Last month, the government announced the Chu Lai Open Economic Zone as a multi-sector economic zone stretching across 27,000ha, which will host various industries including automobile manufacturing, car support industry, oil refinery, high-tech agriculture, mechanical industry, seaports and urban zones. — VNS

Comments (0)