Construction of Nine Works in Chu Lai Open Economic Zone Starts

Quang Nam province started the construction of nine works and granted licences to ten more projects in the Chu Lai open economic zone on July 24, marking the second anniversary of the zone.

Over the past two years, since the Prime Minister’s Decision on the establishment and regulations of the Chu Lai open economic zone was issued, Quang Nam province has invested over VND 500 billion developing the zone’s infrastructure facilities. Also, the province has invested hundreds of billions of Vietnam dong in building five residential areas, paying compensation and site clearance costs, and resettling 600 households who live in the projected area. So far, the Chu Lai open economic zone has attracted 116 projects with a total capital of US$1.4 billion. Of the figure, 66 projects, capitalised at US$720.6 million, (including 25 foreign-invested projects) have been licensed.

In the first six months of 2005, the implementation of seven major projects were promoted. These include a project of the Cathay Bank of Taiwan, heavy plane maintenance and repair project of the AAAWA Group, a project on fertiliser and electricity production of the Forun Group of China, and a project on building a resort of the Foch Investissement of France. These projects, capitalised at hundreds of millions of US dollars each, will generate jobs for thousands of local people. So far, 33 projects have become operational in the zone with the Chu Lai-Truong Hai automobile assembly factory being an exemplary enterprise. The factory has assembled and launched over 5,000 automobiles, contributing tens of billions of Vietnam dong to the State budget.