Chu Lai EZ draws record $1.4b in 2017

January 03, 2018 - 09:00

The Chu Lai Open Economic Zone attracted 23 projects in 2017. Three were foreign investment projects worth US$16 million.



Crane unloads cargo from a ship at the Chu Lai-Trường Hải port of the Chu Lai Open Economic Zone. — VNS Photo Công Thành
Viet Nam News

QUẢNG NAM — The Chu Lai Open Economic Zone attracted 23 projects in 2017. Three were foreign investment projects worth US$16 million.

Total investment of US$1.4 billion was made during the year, 13.5 times as much as the year before.

Director of the Economic Zone Authority (EZA), Đỗ Xuân Diện, said this was the biggest growth in investment since the economic zone opened in 2003.

He said business promotions and forums were held in the province, HCM City, Macau-China and this year’s APEC meeting in Quảng Nam.

Diện said infrastructure and administrative reforms had been promoted to smooth the way for investors.

He said the zone had attracted 138 projects, of which 34 were FDI projects worth $1 billion involving total investment of $3.68 billion since 2003.

Eighty-eight projects worth more than $1.3 billion, are in operation, including 24 FDI projects worth $227 million.

At an investment promotion conference in June, the province presented investment licences to 32 projects with a total registered capital of $15.8 billion. The biggest licence was a US$10 billion framework agreement signed between Exxon Mobil and the State oil and gas giant PetroVietnam (PVN) to develop a power plant using natural gas from the Blue Whale field off the coast of Quảng Nam.

A series of huge tourism property projects also began construction in 2017, including Vinpearl South Hội An worth $213 million; An Thịnh resort complex ($191 million); beach resort Opal Ocean View ($205 million); Bình Dương resort complex ($206 million) and an infrastructure project at Tam Thăng Industrial Park ($220 million).

Last year, Japan’s Mazda Motor Corporation, in co-operation with local Trường Hải Automobile Joint-Stock company (Thaco), started construction of a new Mazda plant at a total investment of $380 million.

The 32,400ha zone has invested $39 million to dredge the main ports of Tam Hiệp and Kỳ Hà for ships with a capacity of 10,000 DWT (deadweight tonnage) and 20,000 DWT.

Direct sea routes were launched from Chu Lai to Incheon  in Korea, and Fangcheng  in China for hosting textiles, automobiles, logistics experts, exports and investment flows from Korea and Japan.

According to Nguyễn Hồng Quang, head of the provincial secretariat, the budget carrier VietJetAir and US partner Parsons Brinckerhoff have proposed a master plan for development of Chu Lai airport as an international airport in 2020-25.

It will host in host 2.3 million passengers and handle 1.5 million tonnes of cargo per year. — VNS