“The province is working to create new trust to attract strategic investors into the locality,” Secretary of the provincial Party Committee Nguyen Van Hung said.
By the end of October 2018, the province had over 3,400 enterprises, 78% of which are micro-sized businesses, 20% are small-sized ones, and the rest of 1.4%, medium ones.
In order to achieve a high economic growth, it has had a plan to attract investors, especially those with large-scale and large investment projects in its coastal areas.
At present, the locality is concentrating resources on clearing land and building infrastructural facilities for its southeastern coastal economic zone, which covers nearly 24,000 ha, spanning 17 communes and towns in the districts of Hai Lang, Trieu Phong, and Gio Linh.
Incentives regarding land rent, income and corporate tax, and project location have been offered to those investing in the zone as the locality has defined the area as a priority place for strategic investors.
Daewon of the Republic of Korea, VSIP of Singapore, Amata of Thailand, Sumitomo of Japan, and Korea Land & Housing Corporation of the Republic of Korea have come to explore investment opportunities in industrial infrastructure, urban areas, energy and seaports there.
Meanwhile, Thai, Korean and Russian investors are working on projects to build two thermal power plants with the capacity of 1,320 MW each, and a 340MW-gas-fueled power plant.
The construction of the main road of the zone with the length of 23.5 km running through seven communes of Hai Lang and Trieu Phong districts is being sped up. The road is expected to be completed in June, 2019.
For its northeastern coastal area, Quang Tri has set to prioritize investors interested in sea tourism and resort development as it aims to turn its Cua Tung-Cua Viet-Con Co sea triangle into a key sea tourism site in the country.
Deputy Director of the provincial Culture, Sports and Tourism Department Nguyen Van Chien said the province has adopted a policy to attract big investors to develop the Cua Tung-Cua Viet-Con Co sea-tourism triangle.
FLC, a big property developer in the country, is interested in developing an urban-resort complex covering hundreds of hectares in the coastal areas of Cua Tung and Cua Viet. Meanwhile, the AE Group is building the AE Resort on 36 ha in Cua Tung area from now to 2021.
Regarding the sea port development, Quang Tri is working on the construction of My Thuy sea port in Hai Lang district in the southeastern economic zone.
The Prime Minister’s Decision 1037/QD-TTg dated June 24, 2014, referred to the planning of My Thuy port till 2020 with a vision to 2030, targeting to create the shortest sea traveling distance for commodities hailing from the southern region of land-locked Laos, Thailand’s northeastern area, and Cambodia’s northeastern region along the 1,450-km East-West Economic Corridor.
Early this year, Rich & Wise Co. Ltd. and the My Thuy International Port Joint Venture Company presented financing contracts and memorandums of understanding on the My Thuy sea port project.
Accordingly, the construction of My Thuy sea port will be from 2018 to 2025. With total investment of US$637 million, the port will have 10 wharves with total length of 3.3 km when it becomes operational.
The Cua Viet sea port has its planning approved in 2017, under which it will have a total area of 120 ha, capable of handing 1.6-2.1 million tonnes of cargo a year by 2020, and 3.3-4.3 million tonnes a year by 2030.