A corner of Da Nang central city (Source: VNA) Da Nang (VNA) – The central city of DaNang and its neighbouring provinces of Thua Thien-Hue and Quang Nam will offeroptimal conditions to lure investment from European countries in hi-tech,tourism, logistics, health care and advanced farming.
Representatives of the three localities addressed abusiness forum oganised by the Euro Chamber of Commerce and Industry andEU-Việt Nam Business Network in Da Nang on November 24.
The three, which connect to the East-West EconomicCorridor linking Laos, Thailand, Myanmar and Vietnam, are considered to havegood investment potential with long coastal lines, world heritage sites,preferential policies, cheap land prices and abundant labour force.
They are also situated on National Highway 1, as wellas having railway, sea port and airport systems and large areas for industrialzone development.
A series of administrative reforms easing investmenthave been cleared by local administrations.
Le Canh Duong, director of Da Nang’s investmentpromotion centre, said tourist real estate remains a favourite investmentmagnet in the city with 25 foreign direct investment (FDI) projects worth 1.8billion USD.
He said tourist real estate made up 54 percent oftotal 3.68 billion USD of FDI capital in the city
Duong also said 57 percent of FDI projects were in theservice sector as the city eyes on developing in Information Technology,hi-tech parks and coastal property, and environment-friendly projects.
The city has so far developed 16 tourist propertyprojects consisting of 749 villas, of which 609 are for sale and 140 for lease,according to him.
EuroCham Vietnam will start operating an office forcentral Vietnam in Da Nang in January 2017.
Quang Nam is developing the 30,000ha Chu Lai OpenEconomic Zone – one of five key zones for investors in Vietnam – withcompetitive land prices of between 10 USD and 30 USD per sq.m for 50 years,said director of the provincial Investment Promotion Centre, Vo Van Hung.
The province has attracted 128 foreign directinvestment projects worth 5.5 billion USD, of which the Nam Hoi An IntegratedResort Project, invested by VinaCapital and Gold Yield EnterprisesCorporations, is the biggest at 4 billion USD.
It is seeking investment in automobile supportiveindustries, food processing industries and industrial park infrastructure.
Earlier this year, the province and the Truong HaiAutomobile Joint-Stock Company, or Thaco - started expanding the Chu Lai-TruongHai Mechanical Automobile Industrial Zone with a total investment of 35.3million USD.
The project is planned to produce 215,000 vehicles,including touring cars, trucks, buses and vans starting in 2018.
Hung said land costs only half or one-third comparedto Hanoi and HCM City, respectively.
He said Quang Nam has reserved 10,000ha of coast fortourism and service projects.
Le Van Thu, director of the investment promotion andsupport centre of Thua Thien-Hue, said Hue city has 128 km of coast and22,000ha of lagoon for tourism development in connection with UNESCO-recognisedworld heritage sites.
“The province hosted 3.2 million tourists, among them1.2 million foreigners, in 2015. We are offering investors competitive lowcost, including labour cost and land,” Thu said.
“Our land costs around 80 percent of what it costs torent in Da Nang, 70 percent of Hanoi land, 60 percent of HCM City, 30 percentof Shanghai and 25 percent of Bangkok land,” Thu said.
He added labour costs for manual workers and managersrange from 130 USD to 320 USD per month.
The province has attracted 23 foreign directinvestment projects with a total capital of 2.3 billion USD. One of the largestis an 875 million USD tourism complex being financed by the Banyan Tree Groupof Singapore.
Several financial incentives have been provided toattract investors, such as tax exemptions for the first four years ofoperation, a 50 percent tax reduction for the next nine years, and a 50 percenttax rate for high-income employees.-VNA
Representatives of the three localities addressed abusiness forum oganised by the Euro Chamber of Commerce and Industry andEU-Việt Nam Business Network in Da Nang on November 24.
The three, which connect to the East-West EconomicCorridor linking Laos, Thailand, Myanmar and Vietnam, are considered to havegood investment potential with long coastal lines, world heritage sites,preferential policies, cheap land prices and abundant labour force.
They are also situated on National Highway 1, as wellas having railway, sea port and airport systems and large areas for industrialzone development.
A series of administrative reforms easing investmenthave been cleared by local administrations.
Le Canh Duong, director of Da Nang’s investmentpromotion centre, said tourist real estate remains a favourite investmentmagnet in the city with 25 foreign direct investment (FDI) projects worth 1.8billion USD.
He said tourist real estate made up 54 percent oftotal 3.68 billion USD of FDI capital in the city
Duong also said 57 percent of FDI projects were in theservice sector as the city eyes on developing in Information Technology,hi-tech parks and coastal property, and environment-friendly projects.
The city has so far developed 16 tourist propertyprojects consisting of 749 villas, of which 609 are for sale and 140 for lease,according to him.
EuroCham Vietnam will start operating an office forcentral Vietnam in Da Nang in January 2017.
Quang Nam is developing the 30,000ha Chu Lai OpenEconomic Zone – one of five key zones for investors in Vietnam – withcompetitive land prices of between 10 USD and 30 USD per sq.m for 50 years,said director of the provincial Investment Promotion Centre, Vo Van Hung.
The province has attracted 128 foreign directinvestment projects worth 5.5 billion USD, of which the Nam Hoi An IntegratedResort Project, invested by VinaCapital and Gold Yield EnterprisesCorporations, is the biggest at 4 billion USD.
It is seeking investment in automobile supportiveindustries, food processing industries and industrial park infrastructure.
Earlier this year, the province and the Truong HaiAutomobile Joint-Stock Company, or Thaco - started expanding the Chu Lai-TruongHai Mechanical Automobile Industrial Zone with a total investment of 35.3million USD.
The project is planned to produce 215,000 vehicles,including touring cars, trucks, buses and vans starting in 2018.
Hung said land costs only half or one-third comparedto Hanoi and HCM City, respectively.
He said Quang Nam has reserved 10,000ha of coast fortourism and service projects.
Le Van Thu, director of the investment promotion andsupport centre of Thua Thien-Hue, said Hue city has 128 km of coast and22,000ha of lagoon for tourism development in connection with UNESCO-recognisedworld heritage sites.
“The province hosted 3.2 million tourists, among them1.2 million foreigners, in 2015. We are offering investors competitive lowcost, including labour cost and land,” Thu said.
“Our land costs around 80 percent of what it costs torent in Da Nang, 70 percent of Hanoi land, 60 percent of HCM City, 30 percentof Shanghai and 25 percent of Bangkok land,” Thu said.
He added labour costs for manual workers and managersrange from 130 USD to 320 USD per month.
The province has attracted 23 foreign directinvestment projects with a total capital of 2.3 billion USD. One of the largestis an 875 million USD tourism complex being financed by the Banyan Tree Groupof Singapore.
Several financial incentives have been provided toattract investors, such as tax exemptions for the first four years ofoperation, a 50 percent tax reduction for the next nine years, and a 50 percenttax rate for high-income employees.-VNA
