Wednesday, September 19 2018

VietNamNews

Huế targets $56mil in investment this year

Update: August, 14/2018 - 17:00
Chân Mây Port in Chân Mây-Lăng Cô Economic Zone in Thừa Thiên-Huế Province. — Photo baothuathienhue.vn
Viet Nam News

THỪA THIÊN-HUẾ — The central province of Thừa Thiên-Huế is targeting total investment of VNĐ13 trillion (US$56 million) from enterprises this year, an increase of 20 per cent over last year’s figure.

Phan Ngọc Thọ, chairman of the provincial People’s Committee, said the province was offering businesses incentive policies, including land lease tax cuts and quicker administrative procedure.

During a meeting between local authorities and businesses operating in the province held on Monday afternoon, many businesses pointed out the difficulties they face complying with policies as well as administrative hurdles that were making them reluctant to invest in the province.

A businesswoman from Hà Nội who is investing in a private hospital in Huế City complained that she had encountered problems with the local tax department which wanted her to file petitions every single year to be eligible for land lease tax breaks.

Local authorities had agreed to lease her land with a tax break over 50 years, she said.

Hospitality businesses, including those running the Pilgrimage Village Boutique Resort and Spa and Imperial Hotel, said the number of inspection teams visiting each year was having a negative impact on their operations.

A Pilgrimage representative said it had been inspected 27 times last year, while the Imperial Hotel said it was visited six times by inspectors last month.

Chairman Thọ pledged to double check why regulations were not being followed by inspection teams. He said the province would work harder to ensure transparency in administration and equal policies for all businesses.

The province expected to have 6,800 businesses operating in the locality this year, so the committee was open for dialogue to deal with any hurdles businesses encountered, he said.

Thừa Thiên-Huế has a low annual economic growth rate. The Chân Mây-Lăng Cô EZ was opened there in 2006, but remains half empty. — VNS

 

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