The inauguration of Cua Dai Bridge and the coastal route running from Duy Xuyen to Tam Ky in March last year brings many opportunities for businesses to invest in the central province of Quang Nam, and in Chu Lai Open Economic Zone in particular.
|Now more connected than ever, Quang Nam province is readying for investment flows |
Inflows to Chu Lai
With Cua Dai Bridge opening to traffic, Quang Nam authorities have recognised the great potential of connecting the dynamic city of Danang and ancient city of Hoi An to the east of Quang Nam and Chu Lai Open Economic Zone (EZ). This also offers a tremendous opportunity for the development of the province.
Simultaneously, a series of social welfare programmes have been implemented, such as proposals to conduct training, transform livelihoods, and create more jobs for the locals, along with projects to renovate agricultural land and to build storm-resistant housing for residents. These have contributed to positive changes in the living standards of thousands of local families.
More importantly, with the existing effort to lure more investors, Chu Lai EZ now has a new foundation to increase the quality of services for trade and investment projects into the zone.
Over the first six months of 2016, the Chu Lai-Truong Hai automobile complex has put several projects into operation, including a heavyweight specialised vehicles and semi-trailers manufacturing factory, composite component factory, and mould manufacturing factory. In addition, the production capacity of the Kia Thaco plant will be raised from 28,000 to 30,000 cars; Vina Mazda’s production will also be bumped up, to 30,000 vehicles per annum.
The complex will boost an automobile air conditioning factory capable of producing 50,000 units per year, and an exhaust pipe factory with a capacity of 100,000 products per year.
Recognising the great trade opportunities afforded by the Cua Dai Bridge, Thaco has worked to expand its Chu Lai-Truong Hai complex, as well as two routes connecting Tam Hiep Port with the highway and industrial park (IP), in the Tam Hiep urban area.
Thaco said that investment in routes to Cua Dai can help support Chu Lai EZ, as well as enhance the lives of the locals and attract more socio-economic investment.
Driving force from six targeted sectors
According to Do Xuan Dien, director of the Chu Lai Open Economic Zone Management Authority, 10 years ago, businesses hesitated to invest in Chu Lai EZ, doubting its ability to attract big projects, especially those in manufacturing and heavy industries. However, the zone has gained potential with the development of the surrounding areas, and Chu Lai is becoming a destination for several international-scale projects.
To create more room for development to the east of Quang Nam and Chu Lai EZ, the Quang Nam People’s Committee has adjusted its master plan to allocate 1,500 hectares for future development. This increases the province’s total area for development space to 45,000ha, including Chu Lai EZ and the general project on residential arrangement along 25 coastal communes, wards, and towns.
Dien added that the province has also announced six sectors that need improvement to develop the South Quang Nam and Chu Lai EZ. These include the development of the South Hoi An service centre and urban area; the auto industry and its supporting industries; the textile industry in line with the urban development of Tam Ky; clean industry development in line with Chu Lai Airport; gas and electricity projects and energy-using industries; and projects to upgrade fishing ports and anchorage areas.
Dinh Van Thu, Chairman of the Quang Nam People’s Committee, said that these six sectors have been identified based on the existing potential and advantages of the province in terms of its location, infrastructure, and policies to attract domestic investment. These concentrations also reflect the development policies of Chu Lai EZ, which have been approved by the central government.
The province now hosts several key projects playing an essential role in directing general development of the region, such as the South Hoi An project, Everland, Tam Thang IP (Tam Ky), an auto manufacturing factory at Tam Hiep IP (Nui Thanh), and a gas treatment plant and gas-electricity plant at Gas-Electricity IP of Tam Quang, Nui Thanh.
By Ha Linh