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| Prime Minister Pham Minh Chinh surveyed the geographical position at Chan May port |
Making good impressions on investors
On the sidelines of the provincial planning announcement conference, our conversation with Mr. Nick Lee, Deputy General Director of EON Industry Vietnam Limited Liability Company, mainly focused on the investment environment in Hue.
This enterprise is known as one of the globally reputable and experienced units in the field of designing, developing, and manufacturing specialized helmets for various sports and helmets for many other activities such as cycling, motorcycling, snowboarding, skateboarding, rollerblading, etc.
Mr. Nick Lee stated that decision from the cooperation to invest in the Gilimex Industrial Park, Phu Bai Ward, Huong Thuy Town, with the EON Industry Vietnam Helmet Manufacturing Plant project, aligns with the strategy of the enterprise that corresponds to the economic and social development orientation and priority investment sectors of Thua Thien Hue province during the 2020-2025 period and the following years.
Now, the project has a scale of approximately 6.1 hectares, with a total investment capital of over 290 billion Vietnamese Dong and has commenced. The goal is to roof the factory by June 2024, complete construction by October 2024, install machinery and equipment by November, and conduct trial operation in December 2024.
"By 2024, our sales revenue is expected to reach around 18 million USD, with a growth rate of over 10% per year. We chose Thua Thien Hue as our investment location because of its rich cultural heritage, history, and culinary traditions. Particularly, Thua Thien Hue province has abundant labor resources, and the people are very friendly and hospitable. I believe that in the future, the investment in this project will be very successful. We plan to recruit about 3,000 workers in the coming year," Mr. Nick Lee shared.
According to the provincial planning, by 2025, Thua Thien Hue will become a centrally-governed city; by 2030, it will be a distinctive heritage urban area of Vietnam. This condition opens up a significant space for strong expansion in infrastructure – urban - service development. In the development and expansion direction of Thua Thien Hue, noteworthy is the new urban area of An Van Duong with a total construction area of about 2,000 hectares, which is the main development and expansion direction of the city with 5 sub-areas A, B, C, D, E.
Recently, at the groundbreaking ceremony of the BGI Diamond Bay Project, Mr. Hoang Trong Duc, Chairman of the Board of Directors of BGI Group and Developer of the BGI Diamond Bay Project, was moved when mentioning the message from the Provincial Party Secretary Le Truong Luu: "Businesses must be genuine, do genuine work, and act genuinely."
Therefore, Thua Thien Hue, being the first locality in the country chosen by BGI Group to develop large-scale urban projects with two key projects: the BGI Topaz Downtown Project and the BGI Diamond Bay Project, demonstrates the high regard this enterprise holds for the development potential in Hue.
"We are strongly committed to implementing the project investment, while these projects serve as the most sincere and practical gratitude for the accompanying support from the province. We also aim to convey the message of determination to achieve project milestones according to the set schedule, meeting the expectations of the provincial leadership for investors," Mr. Duc shared.
Seizing opportunities
During the provincial planning announcement conference, Prime Minister Pham Minh Chinh took the time to attend the groundbreaking ceremonies for several projects. These are all significant, focal projects of the province aimed at exploiting the potential and advantages of the province.
While the Vsico Hue project (docks 4 and 5) will focus on exploiting the strengths of the Chan May - Lang Co area, then the construction of Phase 2 of the International Hospital will contribute to the development of Hue Central Hospital into an internationally branded, high-end medical center; it will become a center for training high-quality medical personnel to meet the standards of hospitals in the Southeast Asian region and internationally, following the spirit of Resolution 54 of 2019 by the Politburo.
The decision to invest in Thua Thien Hue demonstrates that investors have found a "ley line" for the future. "Once the Vsico Hue Port, docks 4 and 5 are operational, they will contribute to shortening transportation distances, increasing cargo throughput in the Central region, promoting the development of regional transportation infrastructure, enhancing commodity trade, and elevating the position of the Chan May - Lang Co Economic Zone and Thua Thien Hue province. This will create additional employment opportunities for local labor, increase revenue for the state budget, and contribute to the local economic development," said Mr. Vu Duc Hue, CEO of Vsico.
In addition to the projects that have been issued investment registration certificates, at the provincial planning announcement conference, many other projects have been approved by the province for initial investment research. According to preliminary estimates, the total investment for all projects falling under this category is around 5 billion USD. Of particular note are the Green Steel Plant project in Chan May, the Green Seaport Steel project, the Residential Area project, with a total estimated investment of about 44,000 billion VND; the Eco-urban Area project in Thuy Thanh commune and neighboring areas, with a total estimated investment of about 22,000 billion VND; the High-end Resort Tourism Area and Golf Course project, with a total estimated investment of about 19,700 billion VND; the La Son Industrial Zone project (expansion), with a total estimated investment of about 7,000 billion VND...
The presence of major players from various investment markets indicates their keen interest in Thua Thien Hue, not only in terms of quantity but also the “quality” of investment capital.
Experts believe that if Thua Thien Hue wants rapid capital influx in the near future, Thua Thien Hue needs to leverage its provincial planning foundation to develop plans and strategies to attract investment. "I think that the provincial planning approval creates opportunities for land development, thus opening up opportunities for investors, not only Hue City but also opportunities to attract investment from various sectors such as coastal economy, urban airports. I expect that attracting investment in the future will contribute to enhancing the central position of the Central Coastal region for Thua Thien Hue," said Dr. Ngo Viet Nam Son, architect.
To create breakthroughs in attracting investment, according to provincial leaders, the province will continue to improve the investment environment, issue preferential policies for enterprises, create land funds to attract new investment projects, implement training programs for high-quality labor force, streamline administrative procedures, improve the investment and business environment, further enhance indices such as PAPI, PCI...; prepare well for projects and sectors that invite investment to welcome investors, especially large and potential ones.