Deputy director of Thua Thien-Hue Planning and Investment Department Le Dinh Khanh shed some light on the province’s investment picture in a recent talk with VIR.
Thua Thien Hue - illustration photo
How has the province lured foreign direct investment (FDI) in recent years?
Thua Thien Hue housed only 38 FDI projects with modest capital amount in 2006.
In 2010 alone, the management licenced 11 FDI projects worth $78.612 million in total registered capital (more than double 2009’s figure), making up 4.1 per cent the province’s total.
By end of 2010, the province was home to 62 FDI projects capitalised around $1.86 billion.
What are the province’s strong points to woo investors?
As part of the central region key economic zone, Thua Thien-Thue covers 5,064 square kilometres with a128km coastlines and 22,000 hectares of lagoons.
The province enjoys a fairly developed infrastructure, including Chan May and Thuan An ports, Phu Bai international airport, highways 1A and 49, the Ho Chi Minh expressway and trans-Vietnam railway.
The province is a big tourism and cultural centre and part of the East-West Corridor linking Myanmar, northeast Thailand, Laos and Vietnam’s central region.
In respect to manpower training, the province acts as one of Vietnam’s three education and training hubs with eight universities.
Would you brief some investment incentives to help the province tap its huge potential?
Province authorities made public Decision 1337/2009/QD-UBND dated July 7, 2009 awarding investment preferences to investment projects in districts of Huong Tra, Phu Vang, Phu Loc, Phong Dien, Quang Dien, Nam Dong and A Luoi.
The preferences cover land rental, enterprise income tax exemption/reduction, support in building infrastructure, compensation and people’s resettlement.
Besides, investors will benefit from some other incentives if they do business in Chan May-Lang Co Economic Zone, A Dot border-gate and Tam Giang-Cau Hai lagoon area.
In light of Document 5809 dated December 31, 2010 on administrative reforms investors will benefit from significantly shortened time to go through legal setup stage.
What will be the province’s future investment focus?
We highlight wooing investment into tourism and services, new urban areas, infrastructure development at industrial zones and hi-tech zones.
The province has also promulgated a list of 62 projects to lure investment into the above fields.