South East Thuy An new urban area project resumed after a long time remaining at a standstill
A milestone
2019 marked a milestone in the field of investment promotion when the province fostered a transparent and open investment environment. All projects calling for investment in the province were publicly listed with detailed information by the provincial People's Committee.
Investment promotion units conducted surveys and consulted with experts in other fields to specify the projects’ area, scale, master plan, current status and other relevant issues to provide information for investors.
As a result, in 2019, the whole province had 39 licensed projects with a total investment of 22,156 billion VND, 2.2 times as much as the set plan.
Many major investors have stepped in for investment opportunities such as Vin Group, Sun Group, SOVICO Holdings JSC, FLC Group, Vietnam Travel and Marketing Transports JSC (Vietravel), Van Phu – Invest Investment JSC, Hoi An Royal Group ...
Many projects have been implemented with satisfactory progress. Chan May - Lang Co Economic Zone and An Van Duong New Urban Area, for example, have become major work sites where many new projects began construction. Projects left abandoned for many years have now resumed.
A number of large tourism and resort projects are implementing investment procedures for construction starting in 2020, such as the Hai Duong eco-tourism resort project in Hai Duong commune; An hotel, tourist services, villas and entertainment complex in Vinh Xuan, Vinh Thanh commune, Phu Vang district ...
Located at the gateway of An Van Duong new urban area, the South East Thuy An urban area was once a "golden" project. After 10 years remaining idle, the project has now been handed over to a new investor with promising potentials.
Mr. Cao Pham Tan Minh, Director of Minh Linh Trading Investment Co., Ltd. - the new investor of the South East Thuy An new urban area project, said that currently, the remaining components of the project such as roads, drainage and sewage systems, medium and low voltage electricity, lighting, sidewalk greenery, and parks have basically been completed.
The construction of the wastewater treatment station is in progress while the foundations for high-end apartments have also been completed after a short time of construction. The company is now focusing on handling necessary paperwork to accelerate the issuance of "red books" (certificates for land use rights) for customers.
The implementation of many projects has turned low-lying rice land into a modern urban area with synchronous infrastructure. In 2019 alone, the total capital to invest in the urban areas managed by the Management Board of Urban Development Areas reached 1,585 billion VND with 81 projects; in which 50 projects were funded by non-state budget sources. Many projects have achieved incremental progress such as those by Aninest JSC, Minh Dien Vital Real Estate JSC, Xuan Phu Investment and Construction JSC...
Mr. Huynh Minh Khang, Director of the Management Board of Urban Development Areas, believed the development of Hue tourism in recent years along with the province’s open policies has stimulated a new wave of investment in real estate. When the real estate market heated up, some investors have overcome their difficult periods and started to regain profits while others have committed to resuming projects that have been sporadically implemented.
Adaptation
According to Mr. Nguyen Dai Vui, 2020 would be without doubt, a year of difficulties for the world’s economy in general and Vietnam’s in particular due to the epidemic. The proposed investment promotion plans in 2020 had been altered and adjusted to adapt to the changeable situation.
More specifically, the priority was given to promoting investment in place, reviewing investment, land, and construction procedures for licensed projects, supporting investors to process disbursement to accelerate projects’ implementation, and stabilizing local investment markets so that construction could begin soon.
The Department of Planning and Investment have boosted procedural support for projects in manufacturing. The focus goes to large projects that create added value and greatly contribute to the province’s budget and socio-economic growth in the future, such as the project on gloves and polyethylene production of KANGLONGDA Protection Technology Co., Ltd., the projects on automobile manufacturing of Kim Long Motors Hue JSC and Bach Viet Automobile Manufacturing Industry JSC. These projects are promised to create new driving forces for the provincial industry.
Mr. Nguyen Dai Vui emphasized that in the immediate future, the province would conduct research, analysis and assessment of market demand as well as domestic and international investment trends to develop investment promotion scenarios and shape appropriate investment promotion products. The province would also prepare project details at hand to promote investment anytime, anywhere, diversify investment promotion activities such as advertising and propagandizing on media outlets and organizing campaigns to promote the message "Hue is a safe, friendly, and attractive destination for tourists' upcoming trips."
Story and photo: Hoang Loan