Producing wooden furniture at Phu Bai IZ. — Photo baothuathienhue.vn

The central province of Thua Thien - Hue aims to attract 10 domestic and foreign investment projects with total registered capital of VND8 trillion (US$343 million) to its economic zones (EZs) and industrial zones (IZs) in 2020.

The province also targets VND6 trillion ($258 million) of registered investment to be disbursed by the end of this year, online newspaper baodautu.vn cited head of the provincial EZs and IZs Management Board Le Van Tue as saying.

This year, the provincial EZs and IZs would see work started on nine major projects, Tue said.

One of them is an automotive assembly and manufacturing complex worth VND2.7 trillion ($117.4 million). Financed by the Bach Viet Automobile Manufacturing Industry Joint Stock Company, the complex spans 50ha in the Chan May-Lang Co EZ. Its construction will begin in the third quarter of this year and will be finished in 2024.

Chairman of the provincial People’s Committee Phan Ngoc Tho said his province would focus on perfecting infrastructure to create an attractive investment environment while supporting enterprises in fulfilling investment procedures to lure more investment to local zones.

The chairman also asked provincial EZs and IZs Management Boards to draw up plans and investment incentives that would help to attract strategic investors with adequate financial capacities and reputable trademarks.

Last year, local EZs and IZs attracted 10 projects with total investment of nearly VND10 trillion, bringing the total number of projects located in their facilities to 146, worth some VND100 trillion.

Currently, nearly 200 businesses are operating in these zones, creating 31,500 jobs. Last year, their revenues topped VND28 trillion, contributing VND2.66 trillion to local budget. — VNS