Chu Lai EZ draws record US$1.4 billion in 2017

13:26 | 06/01/2018 Investment

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-Truong Hai port of the Chu Lai Open Economic Zone - Photo: VNS

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) Do Xuan Dien said this was the biggest growth in investment since the economic zone opened in 2003.

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

Dien 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 US$1 billion involving total investment of 3.68 billion since 2003.

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

At an investment promotion conference in June, the province presented investment licences to 32 projects with a total registered capital of US$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 to develop a power plant using natural gas from the Blue Whale field off the coast of Quang Nam.

A series of huge tourism property projects also began construction in 2017, including Vinpearl South Hoi An worth US$213 million; An Thinh resort complex (US$191 million); beach resort Opal Ocean View (US$205 million); Binh Duong resort complex (US$206 million) and an infrastructure project at Tam Thang Industrial Park (US$220 million).

Last year, Japan’s Mazda Motor Corporation, in cooperation with local Truong Hai Automobile Joint-Stock Company (Thaco), started construction of a new Mazda plant at a total investment of US$380 million.

The 32,400ha zone has invested $39 million to dredge the main ports of Tam Hiep and Ky Ha 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 the Republic of Korea and Japan.

According to Nguyen Hong 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 2.3 million passengers and handle 1.5 million tonnes of cargo per year.

Theo VNA