Over US$1.3 billion FDI poured into Chan May-Lang Co EZ
As of October 2012, Chan May-Lang Co economic zone (EZ) in the central province of Thua Thien-Hue has attracted 32 investment projects, including 11 foreign owned, capitalized at US$1.3 billion.
Major economic groups have implemented projects in the EZ, such as the US$1 billion Laguna eco-tourism zone from Singapore’s Banyan Tree Company.
Thua Thien-Hue has injected more than VND1.733 billion in building technical and social infrastructure to attract investment projects. The EZ boasts the Chan May deep-water port near Lang Co Bay and Highway 1A, which can handle vessels up to 50,000 tonnes. In addition, infrastructure has been upgraded to fully tap the advantages of Lang Co beach.
The province has completed more than 80km of roads connecting the port to Highway 1A, creating favourable conditions for investors.
It has completed construction of three 110/22KV electrical transformer stations with a total capacity of 75MVA and the Chan May water plant with a capacity of 6,000 cubic metres per day and more than 20 km of pipelines to ensure a sufficient power and water supply for projects. A 5,000 cubic metre wastewater collection and treatment system has also been put into operation.
Preferential policies to attract investment in the Chan May-Lang Co EZ are also being offered, including a four year exemption from corporate income tax and a 50 percent income tax reduction for high income earners who work in Lang Co.