Thua Thien – Hue aims to attract $400m in FDI

Tuesday, May 09, 2017 09:00

Chan May Port in central Thua Thien - Hue Province. — Photo

The central province of Thua Thien – Hue aims to attract around US$300-400 million in foreign direct investment (FDI) this year, according to the province’s recent investment promotion plan.

The central province is calling for investment from both local and foreign groups in all sectors, but with priority given to sectors of the province’s strength, such as tourism – service, information technology, healthcare, aquaculture, light industries, urban area development and economic zones.

Investment promotion from traditional investors like Thailand, Korea, Singapore, Hong Kong, Japan and the US will be stepped up, as well as from countries which would benefit from bilateral and multilateral trade agreements of which Viet Nam is a member.

The province will work with FLC Group, Vingroup, Bitexco, and Viglacera, as well as foreign investment promotion organisations like the Japan International Cooperation Agency, Korea International Cooperation Agency, and Japan External Trade Organization.

Chairman of the provincial People’s Committee, Nguyen Van Cao, said that the province wanted to promote investment by connecting with investors’ partners such as banks, infrastructure businesses and consultant firms.

The locality also planned to forge connectivity via direct dialogues between authorities, investors and investment management and trade counseling agencies, he added.

Currently, investors are studying several projects in the province, including an infrastructure project worth VND600 billion ($26.3 million) at a Thien Ha Kameda JSC Industrial Park. The Chan May JSC has registered to pour VND850 billion in capital in building a wharf at the Chan May Port. Phu Quang Spinning JSC poured VND400 billion into a spinning line project.

The central province has so far attracted 140 projects with total registered capital of VND64.3 trillion in the first quarter of this year, including 35 foreign-invested projects with total investment of $1.74 billion. — VNS

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