Chan May-Lang Co economic zone lures more investment

10:36 | 25/03/2019 Economy

The Chan May-Lang Co Economic Zone in the central province of Thua Thien-Hue attracted four projects with a total registered capital of over 15 trillion VND (652 million USD) in the first two months of 2019. 

Chairman of the provincial People’s Committee Phan Ngoc Tho (R) presents investment decision to investor of Kim Long Motors manufacturing and assembling complex - Source: VNA

The four new projects bring to the total number at the economic zone to nearly 50 projects worth over 76 trillion VND (3.28 billion USD).

Notable projects include Kim Long Motors manufacturing and assembling complex worth more than 3 trillion VND, Lang Co-Lap An Lagoon, Bai Ca tourist areas, and Lang Co market.

The economic zone is upgrading its facilities to raise its wharves’ capacity to 6 million tonnes of cargo each year. By 2020, the province will complete a wave-proof dyke project to ensure safety for container vessels.

Chairman of the provincial People’s Committee Phan Ngoc Tho said Chan May port will accommodate six wharves with a total length of 1,680m by 2020, and eight wharves by 2030 along with an oil and gas wharf and a wharf for tourist boats.

After upgrade, the port is capable of receiving vessels up to 30,000 DWT and large-scale cruise liners with 3,000-4,000 passengers.

Located between Da Nang city and the ancient capital city of Hue, near UNESCO-recognised sites such as Hoi An ancient city and My Son Sanctuary, Chan May is the nearest and most convenient gateway to the East Sea from the East-West Economic Corridor, and a main port on the sea route connecting Singapore, the Philippines, Hong Kong (China) and Vietnam.

It welcomes about 40 cruisers each year, many of them are luxury ones. Chan May has become one of the 46 seaports chosen by the Asia Cruise Association as a stop-over for cruise liners in Southeast Asia.

Transport infrastructure in the economic zone has gradually improved, creating a chain connecting tourist and industrial areas, and seaports. Roads are also being built to develop tourist services.

Theo VNA