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The Chan May-Lang Co Economic Zone is a major investment venue in Thua Thien-Hue province as well as the central region. Head of Chan May-Lang Co EZ Authority Ho  Sy Nguyen tells VIR about the zone’s top future investment focus.

Chan May-Lang Co Economic Zone illustration photo

What are the zone’s achievements in luring investments thus far?

It is now home to 34 investment projects valued at VND36.5 trillion ($1.76 billion), including 10 foreign direct investment projects worth $1.32 billion in total registered capital. Some grand projects are the $875 million Laguna Hue by Singapore-based Banyan Tree Holdings Ltd. and Lang Co golf course and resort worth VND5.2 trillion ($252.6 million).

What will be the zone’s investment priority areas in the coming period?

In the coming years, we prioritise wooing investments into promoting leisure tours, urban, seaport and logistic services, high added value and environmentally friendly industries.

What measure packages will be taken to turn Chan May-Lang Co into a magnet for investors?

Our management will focus on implementing the following measure packages:

First, making use of diverse available capital sources to enable essential technical and social infrastructure upgrades.

Second, stepping up efforts to source more ODA, government bond and associated capital sources; and promoting investment into big tourism, urban, IZ infrastructure construction and trading, non-tariff areas and seaport projects.

Third, striving to shortly finalise technical infrastructure construction at resettlement areas.

Fourth, highlighting vocational training and job creation for relocated people.

Fifth, taking environmental protection as a top priority; investors will be required to act responsibly towards the environment from investment preparation to finalisation stages.

Finally, accelerating administration reforms, further applying the one-stop-shop mechanism into settling administrative procedures in diverse fields of planning, investment and construction.

What are the zone’s future investment prospects?

I believe foreign direct investment will flow into the Asian region and Vietnam in the wake of economic rebound and Lang Co-Chan May Zone will then be a lucrative destination to scores of domestic and foreign investors.