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NEWS UPDATES Asean Affairs    September  15,  2017  

Thua Thien Hue attracts $87 million investment

The central province of Thua Thien-Hue has attracted eight more projects with total registered capital of over VND2 trillion (US$87 million) since the beginning of this year.

At present, industrial parks (IPs) in the province have attracted 150 projects with total registered capital of VND65.7 trillion. This includes 34 foreign-invested projects with total registered capital of $1.74 billion.

Of the total registered capital poured into the province, realised capital reached VNĐ20.4 trillion, accounting for 31.24 per cent of the registered capital.

Licensed projects include Chan May Port 2 backed by Chan May Port Joint Stock Company with registered capital of VND849 billion, spanning an area of ​​14 hectares.

Another is the Suối Voi ecological tourist project, invested in by Hoa Lu-Hue Investment, Trading and Service Co., Ltd, with registered capital of VND218.2 billion, spanning an area of 51.1 hectares. The Frit tank production plant project financed by Huế Frit JSC was also licensed, with a capacity of 65,000 tonnes per year and registered capital of VND175.5 billion.

Two other examples are the VND160-billion spinning mill project of Phu Quang Spinning JSC and the granite tile factory owned by Vitto Phu Loc Company, with a capacity of 7.2 million square metres per year and registered capital of VND610.9 billion, spanning an area of ​​10 hectares.

The management boards of Thua Thien-Hue’s industrial parks have focused on implementing key tasks to attract investment, such as completing the review of the master plan for the construction of Chan May-Lang Co economic zone.

The province has also completed the construction plans for the Lang Co-Canh Duong eco-tourism project, Tu Ha IP and Phong Dien IP.

Thừa Thien-Hue has paid a great deal of attention to promoting co-operation with large corporations and secondary investors with strong capacity and financial potential to increase motivation for the development of industrial parks, such as FLC Group, Vingroup, Bitexco and Viglacera, as well as BRG Group and Japanese Kaiokai Group, in addition to foreign organisations such as JICA, KOICA and JETRO.

Currently, the occupancy rate of Thua Thiên-Hue IPs is 39.6 per cent. The occupancy rate of Phu Bai IP for phases I and II is 98 per cent; Phong Dien A IP, 33 per cent; Phu Da IP, 41.1 per cent; and La Son IP, 20.9 per cent.

In 2017, Thua Thien Hue Province aims to attract 20 investment projects to its economic zone as well as IPs with total registered capital of VNĐ6 trillion, of which realised capital will be VND3.5 trillion, an increase of 43 per cent compared to 2016.

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