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Hue paves the way for investment
Thua Thien Hue Province has given more preferential treatment to both domestic and foreign investors in its aim to become a city managed by central government, speakers at a conference said on Dec. 26.
More than 250 businesses from HCM City and southern provinces attended the conference, held here by the Thua Thien Hue People's Committee.
Nguyen Van Cao, Chairman of the committee, said the province aimed to become a centre of commerce, service and international transactions as well as one of the traffic hubs of the Central Highlands and the nation.
Under a plan by the Politburo, the city and region will become a centre for culture as well as science, technology and health services by 2020.
Dang Xuan Quang, Deputy Head of Foreign Investment Agency, said: "To further improve its investment climate, the province needs to make public and simplify its administrative procedures and improve its infrastructure system, especially the road, sea and aviation infrastructure, and improve its workforce quality."
He said close links should exist between schools, businesses and research institutions to improve training.
Le Dinh Khanh, Deputy Director of Thua Thien Hue Department of Planning and Investment, said areas to call for investment included eco-tourism, entertainment, tourism resorts and international standard 4-5 star hotels; hi-tech parks, industrial villages and new urban areas; and education and financial services.
The province has encouraged more investment in industries such as IT, bio-technology, electronics, hi-tech, manufacturing and engineering, production of materials for agriculture, forestry and aquaculture as well as handicrafts.
Among its investment policies, the province has offered incentives in industrial zones to help the projects finish on time.
Investors can lease land at a rate that is on average 0.65 per cent of the annual rate issued by the province.
The province has seven industrial parks and the Chan May-Lang Company economic zone, the key point for attracting investment.
A representative of a consulting company Akitek Tengarra, speaking at the meeting, pointed out that the tourism development plan of Thua Thien Hue by 2025 calls for 10 key projects that are expected to attract more investment.
The projects include a Phu Bai airport, an eco-village in Lap An lagoon with 12 hotels and 500 three-star villas, a resort in Bach Ma Hill, and a Meeting-Incentive-Conference-Exhibition (MICE) project.
Dang Cong Luan, Director of the HCM City Department of Home Affairs, said enhanced transparency on land prices, administrative procedures and site clearance would create favourable conditions for investors.
"Thua Thien Hue will become an attractive investment destination in the near future," he said.
At the seminar, the provincial People's Committee granted investment licences to three companies, the International Transport Development and Investment Joint Stock Company, Viet Phuong Investment Group and Phong Phu Joint Stock General Company.
Two memorandum of understanding on project investment research have also been signed.
The province has a coastline of 128 km length and 22,000 ha of lagoons; Thuan An seaport and Chan May deep seaport can take vessels with capacity of 50,000 tonnes.
Thua Thien Hue's territorial waters have more than 500 types of fish and species of seafood of high economic value.
More than 100 mineral sites exist, with large reserves such as limestone, black and grey granite.
Areas of acacia plantation forest as raw material comprise 60,000ha and the areas of rubber 19.000ha.
Thua Thien Hue is located at the end of the East-West economic corridor connecting Myanmar-Northeast Thailand-Laos and Central Viet Nam.
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