Chan May Lang Co Economic Zone: Driving Force and Ripple Effect in Tourism Economic Development

 

In the first six months of 2012 alone, the economic zone authority actively worked with seven foreign investors and five domestic investors which showed interest in urban infrastructure, industrial zone, nontariff zone, and tourism projects. “That is the signal as well as the impetus for the development and the spread of Chan May - Lang Co Economic Zone, especially in tourism economic development," said Ho Sy Nguyen, Director of the Chan May - Lang Co Economic Zone Authority.

 

In June 2012, the management board participated in vacation property and luxury resort investment promotion events held by the Vietnam National Administration of Tourism (VNAT). The board introduced projects and accessed investors from Europe and the US.

 

The authority has focused to create all favourable conditions and helped investors resolve difficult problems. This has helped many projects such as Laguna Hue project, petroleum depot and export port project, and infrastructure investment projects go on the right track and on schedule.

 

At present, 11 investment infrastructure construction projects are underway at a total investment capital of VND892.8 billion, including eight traffic projects, two resettlement area infrastructure projects, and a flood recovery project. Key projects including National Road 1A - Chan May Port road expansion project, a road linking National Road 1A with Bai Chuoi tourist site, and An Lap resettlement area are being completed and put into use. They will be the foundation for the development of Chan May - Lang Co Economic Zone; Laguna Hue project is a successful result.

 

Several foreign heavy industry investors revealed their intentions to locate their projects in Chan May - Lang Co. But, Thua Thien - Hue province in general and Chan May - Lang Co in particular is determined to attract green and hi-tech investment.

 

In March 2008, Banyan Tree Group of Singapore officially started its US$875 million project on a planned area of 280 ha. This is a first-rate tourist project in the central region, especially when Thua Thien Hue is attracting luxury travellers.

 

In 2008 and 2009, many foreign-invested multi-billion US dollar vacation property projects were licensed across the central region, but they are now running away. But Laguna Hue is quickly completing its first-phase construction to be put into service in October 2012. (The first phase includes Banyan Tree Resort, Angsana Hotel - Resort, and 18-hole golf course, costing US$200 million in total).

 

After the Laguna project is completed, Thua Thien Hue will have seven luxury hotel complexes with 2,000 rooms, over 1,000 high-grade apartments, spas, shopping malls, international conference centres, golf courses, amusement centres and many other items for tourism development. Commenting on this project, Mr Ho Sy Nguyen said: "The Laguna project is a successful factor in promoting investment activities and creating ripple effects for economic and tourist development in Thua Thien Hue."

 

Shortly after going into operation, Laguna will create a value chain like developing travel, catering, trade and amenities for tourists and for the project operations. When it is located inside the Lang Co - Chan May Green City with synchronous infrastructure, Laguna will bring a new look for the tourism industry of Thua Thien - Hue province: Vacation tourism for upper class tourists.

 

The current challenge for Thua Thien - Hue province is how to create supporting projects and service for Laguna project. In turn, this project motivates the development of the tourism economy of Thua Thien - Hue province.