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Vietnam: Central province strives to lure more foreign investors

The central province of Thua Thien-Hue is preparing a strategy to attract more…

The central province of Thua Thien-Hue is preparing a strategy to attract more foreign investment, especially in eco-tourism, infrastructure construction, information technology, bio-technology, electronics, new material production, and agro-forestry-fisheries produce processing.

The local authority will issue preferential policies on investment and production, with priorities to be given to its key projects such as the Chan May economic zone, the Lang Co eco-tourism resort, and the Bach Ma eco-tourism zone.

About 40 projects calling for investment capital of up to several hundred million US dollars have been listed.

With well-trained human resources, clear and simple administrative procedures and the open-minded attitude of local officials, Thua Thien-Hue has emerged as one of the most attractive investment destinations in Viet Nam.

Its centre, Hue city, has attracted seven projects capitalised at 20.7 million USD, representing 47 percent of the number of projects and 15 percent of capital invested in the province. Asian countries and territories are leading investors here.

Many foreign-invested projects are operating effectively such as the Hue Beer Company, a joint venture with Denmark`s Tuborg group, which has raised its capacity to 50 million litres per years from 3 million litres per year after four years of operation. Its product, Huda beer, is now also sold in the UK, the US, France, Canada and Laos. The Kim Dinh Cement Plant, a joint venture with investment of Hong Kong`s Luks group, is also planning to raise its capacity to 1.2 million tonnes per year.

Foreign investment has contributed well to Thua Thien-Hue province`s economic growth, representing 35 percent of industrial production value and 8.3 percent of its GDP.

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