Besides contributing significantly to the budget and creating jobs for local people, the economic and industrial zones (EZs and IPs) have been attracting a large number of FDI enterprises, which help unblock and improve the efficiency of resource utilization. This is why, in recent times, Thua Thien Hue has particularly focused on attracting investment into its EZs and IPs.
Leading Investment
In recent times, several infrastructure investment projects in the EZs and IPs have been launched, contributing to the achievement of the province’s socio-economic development targets.
A prominent model is the investment project of Gilimex Thua Thien Hue Industrial Park, operated by Gilimex Industrial Park Corporation. Started in November 2022, the project covers an area of 460 hectares with a total investment capital of over VND 2,600 billion VND. In less than two years of investment, the project’s technical infrastructure has been rapidly advancing, with an implementation investment of more than VND 581 billion VND. The project is designed to meet modern standards for green and clean industrial development, aligning with current sustainable development trends.
Gilimex Industrial Park has also attracted many projects committed to green, clean, and high-tech industries. The strategic location of this industrial park, along with infrastructure development, creates favorable conditions for businesses to operate efficiently. Upon completion and the registration of businesses for production and business, the project will contribute to promoting socio-economic development and creating jobs for local people.
On the foundation of the basic infrastructure of the EZs and IPs, many businesses have participated in investment, creating a ripple effect in socio-economic development and investment activities. Notably, the Kanglongda Hue Factory project by Kanglongda International Holdings Limited has a total registered investment capital of VND 4,812 billion VND and a land use scale of about 35.6 hectares. Currently, the construction of factories, auxiliary works, and installation of machinery and equipment for phase 1 has been completed. When operational, the project is expected to create jobs for over 1,500 workers and contribute more than VND 200 billion annually to the budget.
In addition to these projects, there are currently 178 active investment projects in the province’s EZs and IPs, with a total registered investment capital of VND 119,636 billion, including 51 FDI projects with a registered investment capital of VND 74,971 billion. The implemented investment capital of these projects has reached VND 41,791 billion to date, with a total investment of VND 2,800 billion in the area by the end of the second quarter of 2024.
Also, in the first months of this year, 11 new investment projects have been licensed in the province’s EZs and IPs, with a total registered investment capital of VND 4,515 billion. The estimated revenue in the area is VND 21,000 billion, import-export turnover is USD 732 million, and contributions to the budget amount to more than VND 2,500 billion. Additionally, the province’s EZs and IPs have attracted over 39,500 workers currently employed.
Prioritizing Investment Attraction in Industrial Parks
Thua Thien Hue is striving to become the most attractive investment destination in the Central region. Accordingly, the province is focused on improving the investment and business environment, supporting the reduction of administrative procedures, implementing many investment incentives, and paying attention to clean land investment… These priorities are clearly reflected in the investment attraction policies that Thua Thien Hue is currently implementing.
According to Mr. Phan Quoc Son, Deputy Director of the Department of Planning and Investment, Thua Thien Hue has implemented various investment support policies in the province. Specifically, for attracting enterprises to invest in industrial zones and clusters, the province has policies supporting infrastructure works. Businesses investing in EZs and IPs are also supported in accessing production and business premises through prioritizing compensation, site clearance, and land fund creation. Investors in infrastructure construction and business in industrial parks, high-tech zones, industrial clusters, and centralized information technology zones are also supported with travel expenses to participate in investment promotion abroad under the province’s annual investment promotion plan.
Moreover, the relatively large clean land fund and synchronized infrastructure significantly facilitate investors when researching investments in the province’s EZs and IPs. Currently, the area of clean land ready for investment in the existing industrial parks is about 360 hectares. With this land fund, the province aims to focus on attracting a variety of clean industries, environmentally friendly high-tech industries, and integrated trade activities, processing of agricultural, forestry, and fishery products, building materials production, and other industries.
In addition to investment incentives, the province also focuses on supporting and creating favorable conditions for businesses when implementing off-budget investment projects, especially in solving problems related to planning, investment procedures, land, and site clearance. This ensures proactive readiness in investment attraction efforts. Support is also provided to expedite the progress of key projects that have been approved for investment policy, selected investors, and granted investment certificates. “With these efforts, Thua Thien Hue hopes to accompany investors in unlocking the potential and strengths of local investment attraction, including in the EZs and IPs,” shared Mr. Phan Quoc Son.
