Illustrative photo (Source: VNA) With an area of 10,438 squarekilometers, Quang Nam has a strategic location in the central key economicregion, neighbouring Da Nang city, Quang Ngai province and an ASEAN member of Laos.
It lies on the East-West EconomicCorridor, which is favourable for road connection with Laos, Cambodia,Thailand, Myanmar, as well as sea links with other ASEAN countries.
Besides a synchronous land,railway and sea transportation system, it boasts eight industrial parks and 50industrial clusters having standardized waste treatment systems.
At the same time, social andservice infrastructure such as schools, hospitals, hotels, restaurants and entertainmentfacilities in Quang Nam has also met the demand of investors and locals.
According to the provincialDepartment of Culture, Sports and Tourism, Quang Nam has more than 5,436 hotelrooms to international standards, which makes it an attractive destination fortourists.
So far, the locality hasattracted 126 FDI projects worth 5.5 billion USD from investors from all aroundthe world, including the Republic of Korea, Japan, Singapore, the US, China,France, Germany and Italy.
In the long term, Quang Nam willfocus on luring investment to sectors of its strengths such as support industry,processing industry, agriculture, tourism, services, urban development, humanresource training, infrastructure construction and business at industrial parksand clusters.
Investors to Quang Nam can chooseand decide their investment methods, along with enjoying preferential policies offeredby the Government in land use, corporate income tax and import tax.
According to the provincial Centrefor Public Administration and Investment Promotion, a 10 percent reduction incorporation income tax in 15 years has been applied for newly-established firmsin extremely disadvantaged localities and the Chu Lai Economic Zone as well asthose in high technology agriculture, science and technology, vocationaltraining and environment.
They are also given tax exemptionin four years and a 50-percent reduction in corporate income tax in thefollowing nine years.
At the same time, Quang Nam hasalso supported investors in land use, along with specific preferential policiesto large-scale projects.
Dinh Van Thu, Chairman of theprovincial People’s Committee, was quoted by Dau Tu (Investment Review) as sayingthat amidst the current extensive international integration trend, Quang Nam isworking hard to become a promising land with abundant investment opportunities.
The province has appliedcomprehensive measures to improve its investment environment and supportenterprises, focusing on administrative reform, he said, noting that thelaunching of its Centre for Public Administration and Investment Promotion has showedthe province’s determination in the field.
Currently, Quang Nam is hostingmany big domestic and foreign firms in various fields, including Truong Hai Auto, Suntory-Pepsico, Viet Nam Brewery Limited, Inax, Groz-Beckert andentertainment-service brands such as The Nam Hai, Montgomerie Links, Victoria,GoldenSand, and Palm Garden.-VNA
VNA
