More than 32,000 billion investment in the Chan May economic zone

VNRE - By the end of October, the Chan May-Lang Co economic zone (Thua Thien-Hue) has attracted 35 investment projects with total registered capital of more than 32,000 billion VND, equivalent to over two billion dollars.

Among projects, there are 11 FDI projects with total investment of nearly U.S $1.4, 24 domestic projects with total registered capital of 10,395 billion VND.

Thua Thien-Hue province has created favorable conditions to expand Chan May oil storage (from 7.000m3 up 100.000m3) and built oil port 30,000 DWT of PV Oil Corporation.

Thua Thien-Hue also accelerate the already licensed projects, especially the Laguna Hue Resort; technical infrastructure of Saigon-Chan May industrial and non-tariff area, Chan May Hospital. A number of other projects such as Banana Beach resort, the Thu Duc-Lang Co office-hotel complex will continue to be deployed.

Laguna Hue project by Banyan Tree Group (Singapore) as an investor on an area of 280ha with a total investment of U.S $875 million. Expected, the building will be developed in four phases.

When completed, there will be seven luxury hotel zones with 2,000 rooms, more than 1,000 apartments, spas, shopping, international conference center, golf courses, entertainment venues, and many works to development tourism.

The first phase of the project include two resorts, an 18 hole golf course and apartments for sale, expected to be completed in late 2011.

Thua Thien-Hue province is speeding up the completion of technical infrastructure and essential social of Lap An, Vinh Loc, Loc Tien resettlement with a total area of about 90ha, the ability to re- for 2,000 households in the area of compensation and land acquisition. On that basis, Thua Thien-Hue ensures to has about 1,000 ha cleaning space for needs of investment and development in Chan May economic zones.

In 2011, the Management Board of Chan May-Lang Co will strive to bring the total investment implemented in the economic zones is about 3500-4000 billion, attracting new investment capital of 5,000 billion; completed the first phase of infrastructure of Saigon-Chan May industrial, non-tariff areas, promote investment to attract investment projects in industrial zones.

Management Board of Chan May-Lang Co to complete the construction of important roads as the way to the Chan May port and Chan May urban center roads; plan project call for ODA projects, government bonds for a number of infrastructure projects in key economic zones.

Reported by Quoc Viet/ VNA