Chân Mây-Lăng Cô EZ lures $3.26b in investment

Tuesday, Mar 05, 2019 15:58

The Queen Mary 2 docked at Chan May Port in the Chan May Lang Co IZ in February.

The Chan May-Lang Co Economic Zone (EZ) in the central province of Thua Thien-Hue has attracted nearly 50 projects with total registered investment capital of more than VND76 trillion (US$3.26 billion).

In the first two months of this year alone the IZ welcomed four investment projects worth over VND15 trillion, local authorities said.

One of the largest projects in the zone is an auto manufacturing – assembly complex developed by Kim Long Nam JSC. The 160ha complex, expected to cost VND3.33 trillion in the first phase, will have a designed production capacity of 16,000 buses annually.

Others include the 126ha Lang Co-Dam Lap An and Bai Ca tourism projects, worth a combined of VND10.5 trillion, and the Lang Co market project, capitalised at VND85 billion.

In order to lure more investment to the zone, Thua Thien-Hue will continue to improve infrastructure with a focus on Chan May Port so it can handle six million tonnes of goods per year.

The province is working to develop six docks with a total length of 1,680 metres from now until 2020, online newspaper Vietnamplus cited chairman of the provincial People’s Committee Phan Ngoc Tho as saying.

With its strategic position as a significant gateway to the East-West Economic Corridor together with rational development strategies and streamlined mechanisms, Chan May-Lang Co would develop into a proactive and modern EZ in the central region, according to the EZ Management Board.

The zone spans more than 27,100ha in Phu Loc District. — VNS

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