Quang Nam aims to attract Korean investors

Monday, Feb 24, 2014 17:34

A view of Chu Lai Economic Zone in the central province of Quang Nam.— Photo vir.com.vn

HA NOI (Biz Hub) — The central province of Quang Nam has planned to build a Korean-style industrial and urban complex in Chu Lai Industrial Park for South Korean investors only, according to baodautu.vn.

Chairman of the Quang Nam provincial People's Committee Le Phuoc Thanh said in his letter to Deputy Prime Minister Nguyen Xuan Phuc that the establishment of a Korean-style industrial and urban complex focusing on industrial manufacturing and processing projects, support industries, and infrastructure and tourism projects from RoK would help the park fulfil its development target and fit in with the global investment trend.

In 2012, the committee first drew up plans for the complex with RoK developer C&N Vina. They intended to develop a 1,600-hectare project comprising 700 hectares for Tam Anh industrial zone, 350 hectares for a township and 550 hectares for tourism services.

In April 2013, the developer obtained an investment certificate to develop the 200-hectare Tam Anh industrial zone, which is worth US$25 million, within the complex. To date, 10 foreign investors have agreed to set up small-scale projects in Tam Anh industrial zone, said Thanh.

The complex, according to Thanh, would help the province improve its investment climate in the fields of industrial manufacturing and processing, especially for Korean companies.

According to the Management Board of Chu Lai Open Economic Zone, nine projects were certified in 2013, with total registered capital of $239 million, including one FDI project. To date, Chu Lai Open Economic Zone has hosted 92 investment projects, with total registered capital of $1.7 billion, of which 64 projects have been put into operation. —VNS

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