Hue casts wide for investment

Tuesday, Jul 30, 2013 07:59

Hue is also known as a famous tourism spot in Viet Nam.—File Photo

THUA THIEN-HUE (Biz Hub)— The central Thua Thien Hue Province has made calls for further investment in a wide range of projects, with promises of incentive policies and smoother investment procedures from the local authorities.

"The province is seeking for resources that could utilise local potential for its development," said Phan Ngoc Tho, deputy chairman of the province People's Committee during an online forum held last week.

Tho pledged incentives and easier procedures for investors who now register in the province.

The local authorities are in need of investors for projects manufacturing solar batteries and high-class glass in Phong Dien District, where the white sand gives the area a lot of potential.

In Huong Tra District, projects in forestation, cultivating herbal plants, processing agricultural products, nurturing seedlings and animal husbandry are top of the list of investment appeal.

The provincial Department of Planning and Investment said it would give investors quick access to water, power and road traffic and lease costs and taxation would be offered at the maximum rate for incentives regulated by the central government.

At the Chan May - Lang Co economic zone, which utilises Chan May's deep water port, exemptions of 50 per cent of corporate tax could be applied to projects involved in the development of the ports infrastructure, automobile assembly, the logistics industry and high-end resorts.

The province also has five industrial parks, including Phong Dien, Phu Bai, Tu Ha, Phu Da and Quang Vinh.

According to Tho, by 2013, the province had granted investment licences to 75 foreign projects with a total capital of US$2 billion. Domestic investors are also carrying out 255 projects at a total cost of $1.4 billion.

Earlier investors, including the Hue Brewery Company, the SCAVI textiles company, Laguna Resort and Luks Cement, are currently doing well in the province thanks to the local preferential business environment. — VNS

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