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Quảng Nam starts two key projects for development

Update: April, 25/2016 - 09:00
Tourists enjoy riding basket boats in Cẩm Thanh water coconut village. Prime Minister Nguyễn Xuân Phúc yesterday affirmed the Government’s commitment to create smooth conditions for investors and ensure that investors benefit when investing in Việt Nam. — VNA/VNS Photo Trần Lê Lâm
Viet Nam News

QUẢNG NAM — Prime Minister Nguyễn Xuân Phúc yesterday affirmed the Government’s commitment to create smooth conditions for investors and ensure that investors benefit when investing in Việt Nam.

He made the statement while attending the inauguration ceremonies yesterday of two key projects in Quảng Nam Province – the Nam Hội An Integrated Resort Project, invested by VinaCapital and Gold Yield Enterprises Corporations, and the expansion of the Trường Hải-Chu Lai Mechanical Automobile Industrial Zone.

Prime Minister Phúc praised the efforts made by the province and investors in starting the construction of these two key projects.

“It’s big scale and strategic investment projects in the province and the Central Highlands region that will help change economic development in tourism, and the service and industrial sectors of the province,” Phúc said.

He said foreign direct investment is seen as a key factor for Việt Nam’s development.

The Nam Hội An Integrated Resort Project, situated in the coastal area of Duy Xuyên and Thăng Bình districts, will be built on 985ha with a total investment of US$4 billion in seven phases between 2016 and 2035.

The project will become Việt Nam’s second largest casino resort after the Grand Hồ Tràm Strip resort and casino in the southern Bà Rịa-Vũng Tàu Province.

The first stage of the project will be constructed on 163ha with initial capital of $500 million, including an 18-hole golf course and a 1,000-room resort from 2016 to 2019.

According to a project investor, the Hội An South Development company, the resort project would start operations in 2019, creating 2,000 jobs for local people and an anticipated revenue of VNĐ100 billion ($4.4 million) in the first phase of investment.

The integrated resort project will be developed as the first luxury entertainment and living centre of world class standard in the ideal world heritage sites of Hội An, Mỹ Sơn Sanctuary and Chàm Island.

The project was among 12 that received investment certificates in Quảng Nam in March, and 17 projects this year.

Also yesterday, the Trường Hải Automobile Joint-Stock Company (Thaco) commenced construction on the expansion of the Trường Hải-Chu Lai Mechanical Automobile Industrial Zone on 210ha with an investment of VNĐ794 billion ($35.3 million) in Núi Thành District.

The expansion project would include a new Mazda plant, two new truck and bus plants and other supportive industries for several car models.

The project would produce 215,000 vehicles including touring cars, trucks, buses and vans after starting operation in 2018.

“They are two key projects in boosting the transition of economic structure in the province. These projects will bring huge revenues for the province’s budget, create jobs for local residents as well as building sustainable development in the southeast region of province,” said chairman of the provincial People’s Committee, Đinh Văn Thu.

He said the province will create the best conditions for investors to boost the construction schedule.

PM Phúc asked the province and investors to speed up the construction schedule of projects with sustainable development targets to supply multiple benefits to investors, local people and the province. 

Automobile industry

The central Quảng Nam Province sees the Trường Hải-Chu Lai Mechanical Automobile Industrial Zone as a crucial factor in the automobile development strategy of the region and ASEAN.

The province has started the construction of roads connecting the zone with the Tam Hiệp Sea Port and the Đà Nẵng-Quảng Ngãi Expressway.

Quảng Nam plans to open sea route links from the zone to ports in Korea and Japan, creating a competitive advantage for investors.

The Prime Minister stressed that the investment in the Trường Hải company (Thaco) in Quảng Nam over the past 13 years has made a great contribution to the development of Việt Nam’s automobile industry.

He said he had witnessed the fast growth of Thaco in building a top brand of made-in-Việt Nam automobiles.

According to Thaco’s chairman, Trần Bá Dương, the company has invested VNĐ28 trillion ($1.24 billion) in the Chu Lai-Trường Hải Industrial Complex – which has a logistics centre, car production factories, a vocational training college, a sea port and storage system, as well as a shipping service.

Dương said the complex earned total revenues of $2 billion, contributing VNĐ13.8 trillion to the State budget and creating 8,000 jobs for local people.

“We sold over 80,000 cars in 2015, giving us a 38.6 per cent of the Việt Nam Automobile Manufacturing Association (VAMA)’s market share. We plan to produce over 112,000 cars in 2016, with an expected revenue of US$3 billion,” Dương said.

Earlier this year, Thaco began operation of a new production line of trailers and special purpose vehicles in the Truong Hai-Chu Lai Mechanical Automobile Industrial Zone.

The Quảng Nam-based car producer currently manufactures and distributes models of Kia for South Korea, Mazda for Japan and France’s Peugeot. — VNS

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