Thua Thien-Hue targets US$400 million in FDI in 2018

14:34 | 06/02/2018 Investment

The central province of Thua Thien-Hue aims to attract about 10-15 foreign direct investment (FDI) projects with total registered capital of nearly US$400 million in 2018.

thua thien hue targets 400 million usd in fdi in 2018
Lang Co Bay - Photo VNA

Disbursement of foreign capital is expected to reach around US$95.5 million. Meanwhile, FDI firms based in the province are hoped to gross US$900 million in revenues and contribute roughly US$90 million to the local budget this year.

The provincial authorities will take measures to enable investors to speed up the implementation of projects while resolutely withdrawing licences of delayed ones.

The province will continue to consider more mechanisms and policies to attract investment from major economic groups and strategic investors such as Bitexco, Vingroup, and Banyan Tree, while reforming investment promotion methods and quickly issuing a list of key projects inviting investment in all fields from now to 2020.

Thua Thien – Hue will invest in infrastructure in areas with major projects with competitive products such as the garment-textile industrial park, Chan May – Lang Co economic zone, and Bach Ma National Park. The province will apply the one-stop- shop model in dealing with investment and land procedures. Nearly US$800 million was injected into Thua Thien-Hue in 2017, showing a year-on-year increase of 9 percent.

So far, the province has attracted 97 FDI projects worth US$2.6 billion with over US$949 million disbursed, making up nearly 30 percent of the total registered capital. Major foreign investors with effective operation in the province include Singapore’s Banyan Tree, US HBI Company and Thailand’s CP Company.

Notably, the Laguna Lang Co international-standard resort complex project, which was invested by Banyan Tree with US$850 million, has been put into operation. The Royal Caribbean Cruises has also poured US$5 million in upgrading the Chan May seaport to serve the world’s biggest cruise ships Quantum of the Seas and Oasis of the Seas.

Theo VNA