Chu Lai Open Economic Zone calls for FDI

Friday, May 23, 2014 16:53

Chu Lai - Truong Hai Auto Complex is a successful enterprise in Chu Lai Open Economic Zone  —Photo

HANOI (Biz Hub) —Chu Lai Open Economic Zone in the central Quang Nam province has asked for an investment capital of $540 million for its two major projects, local media reported.

The two projects are among the 127 projects in the national list that are waiting for foreign investment by 2020. The list consisting of five major categories—technical infrastructure, social infrastructure, agriculture, processing and preservation, and production and services—was approved by Prime Minister Nguyen Tan Dung recently.

Accordingly, the zone has called for foreign direct investment (FDI) of US$500 million to build an aircraft repair and maintenance service centre. Spanning 300 hectares in the commune of Tam Quang, Nui Thanh District, the centre was designed to meet not only the local aircraft repair and maintenance works but also an increasing demand from the region and the world.

The zone has also called for either FDI or joint-venture investment to a $40 million technical and vocational college, which aimed to provide high-quality human resources for domestic and FDI firms.

Earlier, Quang Nam Province reported that it will offer tax exemption on land use for special projects, such as university dormitories, housing for workers and public works, in the fields of education, healthcare, culture and sports, adding that businesses that have invested in high-tech projects will enjoy a preferential tax of 10 per cent during the initial 15 years of the project.

Comprising 24 communes and five industrial parks across 3,500 hectares, Chu Lai Open Economic Zone has been chosen as one of the five key economic zones to be prioritised in the 2013–15 period. Developments in the zone have created jobs for about 50,000 direct and indirect workers in the locality.

According to statistics, the Chu Lai Open Economic Zone has so far attracted more than 90 projects with a total registered investment of nearly US$1.7 billion, two-thirds of which have become operational. — VNS

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