Thua Thien Hue Province is currently witnessing a race against time as several major projects are being expedited for completion and operation this year.
Specifically, the Kanglongda Hue Factory project by Kanglongda International Holdings Limited has a registered investment capital of VND 4,812 billion and spans an area of approximately 35.6 hectares.
The investor has completed the construction of factories and auxiliary works, installed machinery and equipment for phase 1, and is currently in the testing phase. The first phase of the project is expected to be officially operational by May 2024. This project holds great significance in boosting the local budget revenue for the province in 2024.
Similarly, the Aeon Mall Service and Trading Center project in Zone A of the An Van Duong urban area is being expedited, with the entire construction volume expected to be completed by the end of August 2024, and the official inauguration and operation scheduled for mid-September 2024.
In Thua Thien Hue, the Phu Son Waste Treatment Plant was put into operation last April. Constructed since the end of 2021, with a total investment of nearly VND 1,700 billion on an area of over 11 hectares, the plant has a treatment capacity of about 600 tons of garbage per day and night.
The operation of this waste treatment plant has contributed to reducing the solid waste burial rate to below 20%, essentially solving the problem of domestic waste treatment in the province.
Thua Thien Hue’s investment attraction activities in the first months of this year have shown positive signals. By the end of April, the province had granted investment certificates to 19 projects with a total registered capital of VND 5,272.5 billion (including 8 FDI projects with a total capital of USD 33.2 million).
Specifically, there were 9 projects in the economic and industrial zones with a total registered investment capital of VND 4,011 billion, and 10 projects outside these zones with a registered capital of VND 1,261.5 billion. Additionally, the province also approved the investment policy for two projects with a total investment of about VND 5,234 billion.
In recent years, Thua Thien Hue’s economy has achieved a fairly high growth rate compared to the country’s average, with a reasonable economic structure shifting towards tourism, services, industry, and agriculture.
However, like other provinces in the key economic region of Central Vietnam, Thua Thien Hue still faces challenges in attracting domestic and foreign investors.
Therefore, based on the state’s investment regulations, Thua Thien Hue encourages and has policies to attract investment, creating favorable conditions for domestic and foreign investors to invest in industrial parks in the province.
Currently, Thua Thien Hue is promoting investment in high-tech projects and industries based on the 4.0 technology platform. The province is calling for investment in eco-tourism and resort projects, entertainment and amusement park projects, cultural exhibition and performance centers combined with shopping malls, which will enrich tourism services and increase the length of stay of visitors to Hue.
The province is also promoting a group of projects to boost the night-time economy. At the same time, Thua Thien Hue is focusing on calling for investors to build industrial parks and clusters in the province to attract secondary investors and labor from other localities and abroad to live and work in Thua Thien Hue. There is also a strong push for investment in logistics and seaport projects to increase the province’s initiative in goods circulation and make it more attractive to foreign investors.
