A central investment attraction

Nine provinces and cities will join hands to organise an investment promotion conference in Danang to call for increased central region investment.

 

Danang, Thua Thien-Hue, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Ninh Thuan and Binh Thuan, during the two-day conference from March 21-22, will roll out investment opportunities and incentive policies.

The conference is expected to attract 300 participants from government agencies, foreign business associations and international organisations.

“This is a big chance for private investors to get an in-depth picture about investment climate in central coastal region,” said Phung Tan Viet, vice chairman of Danang.

Home to beautiful beaches and world cultural heritages like Hoi An, My Son and Hue, the central coastal region is well-known as a tourism destination in Vietnam. Many foreign and domestic private developers have developed luxury resorts along the coast.

But not only well-known as a good destination for tourism investment, the central coastal area in recent years has also emerged as home for industrial manufacturing investments. JFE Corporation, one of the world’s biggest steel-makers is preparing to invest in a $4.5 billion integrated steel factory in the Dung Quat Economic Zone in Quang Ngai province

UK-based Technostar is going to start construction of a $3.7 billion oil refinery in Phu Yen province. Meanwhile, Thailand’s national oil and gas group PTT proposed a mammoth petrochemical project in Binh Dinh province, capitalised at $28.7 billion.

Le Huu Loc, chairman of Binh Dinh People’s Committee, said potential investment in the region was huge, especially when its infrastructure system was improved.

“We plan to call for investments in high-tech industries and projects that are appropriate with development plan of the country and region,” said Loc.

Source: VIR

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