Quang Nam province attracts 5.8 billion USD in FDI
The central province of Quang Nam licensed 26 new foreign direct investment (FDI) projects with total capital of nearly 300 million USD in 2018, bringing the total number of FDI projects in the province to 169, worth 5.8 billion USD.
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| An aerial view of the Chu Lai Open Economic Zone in Quang Nam province |
At a recent press conference, Vice Chairman of the provincial People’s Committee Huynh Khanh Toan said the province also granted investment licences to 64 domestic investment projects worth 6 trillion VND (265 million USD) in total.
He said most of the major projects are based in the Chu Lai Open Economic Zone (OEZ), creating 21,000 jobs for local and neighbouring provinces.
Toan said the province has developed 55 industrial complexes and nine industrial parks to offer investment opportunities.
The province, which is home to UNESCO-recognised world heritage sites such as Hoi An and My Son Sanctuary, as well as world biosphere reserve Cham Islands-Hoi An, hosted 6.5 million tourists, of which 3.8 million were foreigners, marking growth of 21.5 percent over last year.
In 2018, the Vinpearl Group put into operation the first stage of Vinpearl Quang Nam Resort Complex on 179ha in Thang Binh district with total investment of 4.8 trillion VND (212 million USD).
Local Truong Hai Company, in cooperation with Japanese car producer Mazda, also inaugurated the second Mazda plant in the province with total investment of 12 trillion VND (520 million USD), producing 100,000 cars for both domestic and export markets, Toan added.
According to the provincial report, the 4 billion USD Nam Hoi An Integrated Resort, invested by VinaCapital and Gold Yield Enterprises Corporations, will open soon.
Quang Nam also plans to upgrade Chu Lai airport to make the province a key destination and logistics centre for foreign investors in the central region, and link local economic zones with those in adjacent Quang Ngai and Da Nang.
Budget carrier Vietjet Air and US partner Parsons Brinckerhoff have proposed a master plan for upgrading the airport in three phases – from now until 2020, 2020-2025 and beyond 2025 with an estimated 2.5 trillion VND (111 million USD) from the provincial budget.
Last month, the Government announced the Chu Lai Open Economic Zone as a multi-sector economic zone stretching across 27,000ha, which will host various industries including automobile manufacturing, car support industry, oil refinery, high-tech agriculture, mechanical industry, seaports and urban zones.