Thua Thien-Hue Economic and Industrial Zones: Destinations for Investors

On June 15, 2016, the Prime Minister issued Decision 1070/QD-TTg on the establishment of Thua Thien Hue Industrial and Economic Zones Authority based on the reorganisation of the Chan May-Lang Co Economic Zone Authority and the Thua Thien Hue Industrial Zones Authority. Accordingly, the new entity, subordinate to the Thua Thien Hue Provincial People’s Committee, directly administers industrial parks, economic zones and border-gate economic zones in Thua Thien Hue province; manages and renders the provision of public administrative services and other support services relating to investment, production and business activities for investors in industrial parks, economic zones, and border-gate economic zones in the province in accordance with the law.

General information:

Local economic and industrial zones are situated at prime locations free from flooding, close to centralised raw material zones for production and processing and have an easy access to Chan May deepwater port, the nearest approach to the East Sea linking countries on the East-West Economic Corridor (Laos, Cambodia, Thailand, Myanmar, etc.) with Northeast Asian countries and the world; and have favourable access to Phu Bai International Airport, the North-South railway system, and National Highway 1A. To tap these advantages, the Thua Thien Hue Industrial and Economic Zones Authority has focused on attracting large projects. In 2016, the authority granted investment decisions and investment registration certificates to 11 new projects with a total registered investment capital of VND4,250 billion, including three foreign-invested projects with VND338.4 billion, with the most prominent project being VND3,316.8 billion Lap An Lake ecological tourism site invested by Bitexco Group. Up to now, the province’s economic and industrial zones have attracted 137 projects with VND63,099.1 billion of registered investment capital, including 35 foreign-invested project with VND31,177.6 billion. Disbursed capital has reached VND16,887.5 billion, accounting for 26.8 per cent of the total registered capital, of which VND2,100 billion was spent in 2016, or 42.0 per cent of the plan. Phu Bai Industrial Park (first and second phases) has the highest occupancy rate of 98.5 per cent, followed by Phong Dien (B section and expanded B section) with 74 per cent of the area leased and Phu Da with 42.5 per cent. At present, some projects are being studied for deployment, such as the VND600-billion infrastructure project for Industrial Park No. 2 carried out by Thien Ha Kameda Joint Stock Company, the VND850-billion Pier 2 project in Chan May Port invested by Chan May Port Joint Stock Company, the VND 400-billion spinning complex project invested by Phu Quang Spinning Joint Stock Company, the VND580-billion Lang Co maritime tourism complex project invested by Asia-Pacific Joint Stock Company, and the VND500-billion project that refines silicon sand into high-grade, super-white and ultra-fine materials invested by A&A Green Phoenix Joint Stock Company.

Seeking to expand cooperation with domestic and foreign investors to draw more capital for socioeconomic development, the Thua Thien Hue Industrial and Economic Zones Authority always welcomes all investors to study and invest in economic and industrial zones in Thua Thien Hue province. When investing in local economic and industrial zones, in addition to being granted preferential treatment and support relating to land access, land clearance, unexploded ordnance clearance, traffic, electricity, water and vocational training, among others, investors are entitled to appealing tax preferences and incentives as follows:

Related investment procedures are processed quickly and conveniently under the “one-stop single-window” administration mechanism to shorten the time and facilitate investors to carry out their projects.

The authority is pleased to introduce some projects calling for investment capital in economic and industrial zones in Thua Thien Hue:

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