Chu Lai trademark has become an attraction for investors and local people are hoping for even stronger development of the first open economic zone of Vietnam.
With its favourable position, located on the transport axis of roads, railways, air routes and sea routes, along with its improved business environment, Chu Lai has necessary conditions and is capable to be the destination for investors, as the key economic zone of the Central region.
Since its establishment, Chu Lai open economic zone has attracted a great number of investors. After establishment on July 25, 2003 with a VND550 billion investment for its infrastructure, a series of projects and works have been built and completed at Chu Lai open economic zone. Mr Francois Gontier, President of Foch Investments group and EEM group, which share ownership of the Victoria hotel chain, was one of the guests landing on Chu Lai airport on the zone’s inaugural day. He said that local authorities’ open policies have attracted investors. Mr Lim Tee Keong, president of the management board of Danano Singapore PTE Ltd, said he would invest over US $30 million, raising that to US $100 million in the coming five to ten years, because of the open economic zone’s incentive policies.
At every stage, investment in Chu Lai has been rising. After only three years, as many as 130 projects, including 43 FDI projects and 87 domestically invested projects, with total registered capital over US $1.4 billion, have been deployed in Chu Lai open economic zone. Many projects have been put into operation, and are making profit and providing work for local labourers. Resident companies included names such as Truong Hai auto, Hoa Chen animal food, Taiwan mechanical components and Dacotex garment and textile (France). As a result, tens of thousands of goods made at Chu Lai have been exported. Truong Hai Company’s auto assembly plant, one of Southeast Asia’s biggest such plants, had produced 10,000 autos as of the end of 2005.
However, investment fever in Chu Lai open economic zone has shown signs of abating. This is due to vague mechanisms governing the non-tariff and the tariff quarters of the zone, and continued delays in establishing a long term, overall development for the open economic zone. To deal with these obstacles and difficulties, and to create new development for Chu Lai, the zone’s Management Board has worked out solutions and policies to attract projects. According to Mr Thanh, head of the investment assistance department of the zone, the strong development of Dung Quat industrial zone would be an opportunity for Chu Lai to develop accessory industries and become a service centre for Dung Quat. The transport network between Da Nang and Chu Lai has been improved. Chu Lai airport is operational with further work underway, bringing new investment opportunities and an optimistic future for the open economic zone.
N.H
Vietnamese
