Chu Lai Open Economic Zone Attractive to Foreign Investors

 

Established in 2003, CLOEZ currently owns huge advantages, deserving its position of being Vietnam’s first open economic zone. Such advantages can be named through Chu Lai’s fascinating scenery with a nearly 40-km beautiful and wild coast which is located in an area of many cultural heritages. CLOEZ also takes it pride in having Chu Lai international airport which is currently among Vietnam’s largest airports; Ky Ha seaport which guarantees domestic and international transportation; and Vietnam’s first 1,700-hectare free trade area which gets permission to be established and operate according to international practices by Vietnam Government. The free trade area connects Chu Lai international airport with Ky Ha seaport, creating a three-in-one model: airport – free trade area – seaport. CLOEZ is now home to five industrial zones with an abundant labour force. Particularly, CLOEZ draws special attention from the local authority which is making tireless endeavours to turn CLOEZ into a dynamic economic zone. During recent years, CLOEZ has been focusing on promoting investments into high-class tourism and service projects of international standards. It also offers preferential treatment to light industries whose environmental pollution issues can be controllable and investment opportunities can be shared with heavy industrial zones of Dung Quat economic zone.

 

To that end, the Management Board of CLOEZ has made continuous investments into social infrastructure system upgrading with an aim to quickly bettering the open economic zone and accelerating investment attraction. Up to now, the infrastructure system, electricity and water systems here have been quite complete. Investment projects will be supplied with adequate power and water. Convenient transportation connection has ‘created’ five industrial zones, including: North Chu Lai, Tam Hiep, Tam Thang, Tam Anh and Chu Lai Truong Hai Mechanic Autmobiles industrial parks. These industrial parks gather lots of conditions for development and are aiming at becoming industrial parks with clean industry and of high science and technology content. 

 

In addition to industrial development, the CLOEZ is being invested to become a destination with a chain of high-grade hotels, resorts, restaurants, entertainment centers and ecological tourism areas, etc. Furthermore, such urban areas as Dong Tam Ky, Tam Hoa, Tam Anh, Tam Hiep and Vietnam’s first and sole free trade area will help establish a large-scaled center for trading, import-export, international market fair and exhibition, processing and producing, etc. in the CLOEZ.

 

Since its establishment, Chu Lai has been aiming at attracting foreign investment. Facts have shown that during the past years, there have been lots of foreign investors to come and study investment opportunities, such as Indochina Capital, Icorpa-Canada, Providental Group, IPA and Aluco Group from Thailand, ect. So far, Chu Lai has succeeded in attracting 54 projects with a registered capital exceeding US$815 million. Chu Lai currently applies the highest preferential treatment policy for investment projects according to Vietnam laws. Besides, the province also offers lots of preferential mechanisms to investors in terms of offering favourable land renting and delivery price, supporting fund for infrastructure investment and site clearance and drastically implementing one-stop shop mechanism in dealing with investment procedures.