The 32,400ha Chu Lai Open EZA has 109 investment projects, of which 29 are FDI projects, with a combined registered capital of more than $1.52 billion. The South Korean firm C&N VINA Tam Anh will start construction of its first industrial park (IP) in Tam An commune in Quang Nam Province to host Korean investment flows. — VNS Photo Cong Thanh

QUANG NAM (Biz Hub) — South Korean firm C&N VINA Tam Anh will start construction of its first industrial park (IP) in Tam An Commune in the central province later this month, officials said.

Director of Chu Lai Open Economic Zone Authority (EZA) Do Xuan Dien confirmed to Viet Nam News that the IP has been designed to encourage investment flows from Korea.

He said the Korean firm will begin the first stage of construction on 200ha, with a total investment of US$25 million for infrastructure development, and this phase will be completed in 2017.

"We will create favourable conditions for investors to boost the infrastructure development process of the IP, which will host investors from 2017," Dien said.

He said the EZA had started granting investment licenses to investors in April.

The South Korean firm developed the 192ha Minh Hung–South Korea IP in southern Binh Phuoc Province and the first stage of the Phong Dien IP on 126ha of land in Thua Thien-Hue Province.

The company has been seeking further investment in infrastructure in IPs in the Dong Nai and Long provinces.

The 32,400ha Chu Lai Open EZA has 109 investment projects, of which 29 are FDI projects, with a combined registered capital of more than $1.52 billion. Sixty-six projects, worth more than $837 million, are in operation, creating 12,000 jobs for the local people.

The zone has drawn $252.47 million in FDI projects.

Chu Lai EZA, one of five coastal economic zones in the country, in co-operation with the Korean Textile Association, has attracted investments from the textile and tourism industries in Korea.

The zone also plans to open sea routes from Ky Ha to Busan, Hong Kong and Singapore in 2016-17 and to upgrade Chu Lai Airport to allow more international flights. — VNS