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US$1.3 billion invested in Hue
As much as US$1.3 billion has been invested in the Chan May - Lang Co economic zone in the central province of Thua Thien Hue so far this year.
The registration amount is allocated from 11 foreign direct investment projects in the province.
Of these projects, Singapore's Banyan Tree has invested the most by far, with nearly $1 billion in eco-tourism projects.
According to the provincial People's Committee, the Lang Co - Chan May economic zone has attracted up to 32 investment projects for the province.
The committee said the zone's location near national road 1A and Lang Co Bay makes it highly attractive to investors, as does its deep-water port, which is very convenient for transport on both land and sea.
The province has invested an additional VND1,733 billion ($36,4 million) in improving and establishing essential infrastructure in the zone including a 130 metre-long quay, a 80-kilometre road, and three electrical transformer substations with total capacity of 75MVA, among others.
Also, many priorities have been made to attract investment such as tax exemptions for four years after, a 50 per cent tax reduction for the following nine years and a 50 per cent tax income for any high-income employees.
The Chan May - Lang Co economic zone covers an area of 27,107 ha.
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