Thua Thien-Hue: Improving business climate key to FDI attraction

Saturday, 23/06/2018 15:04
Creating a transparent business environment will make the central province of Thua Thien-Hue become an attractive destination for foreign direct investments (FDI), heard a conference held in the locality on June 22nd.

According to Nguyen Van Phuong, Vice Chairman of the provincial People’s Committee, there are 96 FDI projects with total registered capital of more than USD3.5 billion in the province. Particularly, the USD2 billion Laguna Lang Co resort project in Chan May-Lang Co economic zone, developed by Laguna Vietnam Co., Ltd under Singaporean Banyan Tree Holdings Limited, is among largest FDI projects landed in the locality so far.

The conference between the administration of Thua Thien-Hue province and foreign investors on June 22nd (Photo: VNA)
Last year, the FDI sector earned USD800 million in revenue, contributed USD87.7 million to the state budget, and created jobs for over 17,500 labourers.

Thanks to the local efforts to streamline administrative procedures, create a transparent business environment, and various preferential policies, the province has been a destination of many world leading groups. Renowned investors in the province include Denmark’s Carlsberg, the US’s HBI and Caribbean Cruise, France’s Scavi, Hong Kong’s Luks Ceement, Thailand’s CP and China’s Baosteel.

Vice Director of the provincial Department of Planning and Investment Le Dinh Khanh pointed out challenges faced by local investors like skillful labourers, capital disbursement, land, and construction progress.

The province should work more to improve the business climate, promote and expand production, while focusing on providing timely support for FDI businesses by organising regular dialogues to tackle their obstacles, he said./.