After 18 years of establishment (in 2003), Chu Lai Open Economic Zone is catching greater attention of investors and becoming their top choice for investment projects. With the spirit of open cooperation, the authority always accompanies and supports investors in doing business, said Mr. Le Vu Thuong, Director of Chu Lai Open Economic Zone Authority, in an interview offered to Vietnam Business Forum. Ngo Khuyen reports.
Could you please introduce potential advantages, investment attraction approaches and investment incentive policies as well as the role of Chu Lai Open Economic Zone in Quang Nam development to 2030?
Chu Lai Open Economic Zone is the first coastal economic zone established by the Prime Minister on June 5, 2003 and one of eight key national economic zones where new mechanisms and policies are applied to an integrated economic zone to create an enabling, fair and appropriate investment environment in line with international practices. The adjusted Master Plan for Chu Lai Open Economic Zone was approved by the Prime Minister to provide the legal groundwork and a favorable factor for development of Chu Lai Open Economic Zone and the southeast region of the province to 2030.
Over the past 18 years, the economic zone has focused investment funding on upgrading road, sea and air traffic infrastructure. The plan, devised to upgrade the Chu Lai seaport system into the first-class port, is currently being appraised by the Ministry of Transport to be included into the national port system plan, together with some large-scale driving projects like Coastal Road 129 linking Da Nang with Quang Ngai, the gas power and post-gas energy project, and Chu Lai Airport. Many other ongoing projects are expected to create a new driving force for future development.
Chu Lai Open Economic Zone and the Southeast region must be the driving force area for the development of Quang Nam in 2021-2025 and to 2030. The economic zone is rearranging key project categories according to Conclusion 25-KL/TU, including limiting textile and garment industry projects in the eastern region, proposing new project categories to match the adjusted construction plan for Chu Lai Open Economic Zone. In each key project category, it will identify a dynamic project linked to functional areas to gradually form development pillars of each category: industry, tourism, trade and services, logistics and urbanization; formulate policies and institutions for non-tariff zones and logistics services zones, build supportive policies for high-tech industrial parks to become a new driving force; and sustain green, environment-friendly development.
What do you think about investment attraction results and tenant performance in Chu Lai Open Economic Zone in recent years?
Currently, Chu Lai Open Economic Zone is home to 180 projects with a total investment capital of VND122.6 trillion (US$5.6 billion), including 48 FDI projects with US$721 million and 132 DDI projects with VND106.5 trillion (nearly US$5 billion). Among them, 113 projects are operational with a total realized fund of VND43.3 trillion.
In recent years, investment promotion has been accelerated. The authority has actively supported investors to carry out their projects, thus building its good reputation in the business community, to domestic and foreign investors, who will come to seek investment opportunities in the economic zone. Most tenants are working stably, employing many workers and contributing to local socioeconomic development.
In order to support tenants affected by the COVID-19 epidemic to deal with emerging difficulties and boost business performance, what solutions did Chu Lai Open Economic Zone Authority take?
The COVID-19 epidemic caused a great impact on domestic and foreign investment promotion. There was a sharp drop in research and investment projects and licensed investment projects. In order to tackle difficulties, accompany and support businesses, the authority issued many instructions on business assistance, characterized by the following recommended solutions:
(1) Intensely informing workers of causes, consequences and measures to prevent the contagion; closely coordinating with local health agencies to effectively implement epidemic prevention measures;
(2) Applying health status declaration to all foreigners entering from or going through China and passing through announced epidemic places in some countries (South Korea, Japan, Italy, Iran, etc.), early detection and quarantine of people with signs of infections;
(3) Regularly reviewing and reporting on business difficulties and problems during the COVID-19 epidemic time to integrate and report to relevant agencies for prompt support for enterprises to stabilize production.
Source: Vietnam Business Forum