Four More FDI Projects Licensed in CentralProvince

Central Thua Thien-Hue province has licensed additional four fresh foreign direct investment (FDI) projects worth capitalized at US$282.7 million so far this year, raising its total registered FDI capital to over US$600 million in 41 projects, state media said.

 

The largest project is a US$276 million high-ranking tourism complex by Singapore’s Banyan Tree Group in Chan May-Lang Co Economic Zone. Three others are an entertainment centre, a super market and a construction material factory.

 

Hong Kong’s Luks Group plans to pour US$100 million into building a 100MW thermo-power plant in the province. It will also invest in the fifth clinker production line with daily capacity of 4,000 tons.

 

FDI disbursement in the central locality is estimated at VND320 billion (US$20 million) since the beginning of the year, representing an annual increase of 7 per cent.

 

FDI enterprises operating in the province, which are employing some 6,000 workers, reported their total revenues of US$100 million during the period, up two times on-year.

 

Thua Thien-Hue seeking investors for 169 key projects in the 2006-2010 period with focus on tourism, services sectors and infrastructure development, according to the provincial Department of Investment Promotion.

 

The province has pledged special incentives for investors into the Chan May-Lang Co EZ. New investment projects in the EZ will enjoy a low corporate income tax rate of 10 per cent for 15 years, dating from their operation day, exempted from corporate income tax for four years since they have taxable income and also enjoy tax reduction of 50 per cent for nine successive years. (Vietnam & World Economy)