Sunday, 19 Nov 2017
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Investors pour $1.76 billion into Chan May - Lang Co Economic Zone

Updated at Friday, 03 Nov 2017, 09:47
The Hanoitimes - The Chan May - Lang Co Economic Zone in the central Thua Thien – Hue province attracted 43 projects with total investment of nearly VNĐ40 trillion (US$1.76 billion) in the first ten months of the year.
Among them is the second phase of the Laguna eco-tourism site, worth some $1.1 billion, developed by Singapore’s Banyan Tree Group and a consortium of others run by the Saigon Investment Group and the Vietnam National Oil and Gas Group.
Another is Chan May Port’s Wharf No 2 project backed by Chan May Port Joint Stock Company with registered capital of VND849 billion, spanning an area of ​​14ha. Construction of the wharf will begin in February 2018.
The Management Board of Chan May - Lang Co Economic Zone plans to lure investment into 18 new projects next year.
The Management Board of Chan May - Lang Co Economic Zone plans to lure investment
into 18 new projects next year.
In September 2018, Chan May Port’s Wharf No 3 will be set up by the Hao Hung Hue One Member Limited Liability Company. It is expected that by 2020, Chan May Port will have a total of three wharfs, enabling it to serve large cruises and accommodate vessels of up to 50,000 DWT (deadweight tonnage).
Chan May Port is located between the two largest cities in the central region – Hue and Da Nang. The port also lies on the main sea route linking Singapore, the Philippines, Hong Kong (China) and Vietnam. It is among 46 seaports in Southeast Asia selected by the Asia Cruise Association as a stopover for cruise ships.
The port can now accommodate vessel of up to 30,000 DWT and cruise ships carrying 3,000-4,000 passengers each.
In 2018, the Management Board of Chan May - Lang Co Economic Zone will strive to lure investment into 18 new projects in the fields of industry, tourism, infrastructure of industrial parks, non-tariff areas and urban areas, with total estimated capital of VND5 trillion.
Thua Thien – Hue Province will manage to increase the occupancy rate of Chan May - Lang Co EZ to 32 per cent in 2018.
In order to support businesses in attracting investment, the Management Board of Chan May - Lang Co EZ has focused on creating favourable conditions and removing difficulties and obstacles for investors in order to make sure that the projects are implemented on schedule. For large projects, the board has set up working groups, in co-operation with the investor, local People’s Committee and related departments and agencies to quickly resolve issues arising in site clearance.
In 2017, together with the promotion of investment attraction, the Management Boards of Thua Thien-Hue EZs and IPs have repeatedly reviewed delayed projects to timely and resolutely handle cases of projects that show signs of inability to be implemented, and withdrawing investment licenses if needed to re-allocate them to other potential investors.
​Phuong Thao
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