Quang Nam province calls for investment in 100 key projects

Quang Nam province has unveiled a list of 100 key investment projects this year, spanning 24 in industrial real estate and manufacturing, 23 in tourism, 26 in urban areas, and others.

The central province has invited businesses to invest in development of five major industrial parks (IPs), namely the 655-hectare Nam Thang Binh IP, the 600-hectare Dai Loc IP, the 397-hectare Tam Anh 3 IP, the 310-hectare Thang Binh High-tech IP, and the 245-hectare Bac Thang Binh 1 IP.

Major projects in the tourism sector are the 700-hectare Trung Trung Bo-Nuoc Oa historic-tourist site, the 500-hectare Ho Phu Ninh eco-resort and tourism complex, the 427-hectare Loc Yen-Lo Thung eco ancient village, and the 300-hectare Hon Kem Da Dung tourism area with high-tech agriculture.

Among the 26 urban area projects, key ones are the 1,365-hectare complex to the east of Tam Ky town, the 746-hectare urban complex along Nguyen Tat Thanh road, the 260-hectare Truong Giang 2 resort and urban complex, the 223-hectare complex in Hoa Huong ward, and the 215-hectare Tam Thang urban area.

Quang Nam province is also soliciting investment in 15 and 12 projects in the service-commerce sector and agriculture sector, respectively.

In the first quarter of this year, the central province approved four domestic projects with total registered investment capital of VND1.1 trillion ($46.85 million), down 66% year-on-year.

Quang Nam has so far attracted 1,100 projects, including 970 domestic projects worth VND242 trillion ($10.31 billion) and 194 FDI projects worth $6.06 billion.

Prioritizing digital economic sectors

Ho Quang Buu, Vice Chairman of Quang Nam, told The Investor that the province would prioritize attracting investments related to the digital economy and Industry 4.0-based sectors such as information-communications-technology (ICT), digital, nanotechnology, biotechnology, new materials, pharmaceuticals, biology, high-tech agriculture, environmental technology, clean energy, and others.

"Quang Nam will boost attraction and utilization of FDI for research, application, innovation, start-up, and technology transfer, especially for projects with high technology, modern governance, high added value, and spillover effect which bolster the participation of Vietnamese enterprises in the value chain," he added.

The province will concentrate on developing the automobile industry on the basis of automation, modern governance, and precision mechanics. Buu emphasized that Quang Nam is also striving to develop the support industry in order to build a new-generation industrial ecosystem with Vietnamese conglomerate Thaco Truong Hai at the core. This will help the province establish a multi-purpose engineering and support industry center in the Chu Lai Open Economic Zone.

The province also aims to develop the aviation sector to form an international-class aviation service center in the zone.

For industrial parks, investments must focus on advanced industries with high contributions to the budget and efficiency in terms of land use. Mining and mineral processing must have innovations and advanced technology which are environment-friendly.

Regarding urban areas, the province will prioritize major projects which can kickstart urban development in the eastern region and projects with suitable scale in the western area, Buu noted.

"Quang Nam will focus on developing synchronous, modern and green urban areas associated with the development of economic zones and industrial hubs in the province. which can boost domestic and international connectivity," he added.

The province will develop the agricultural sector towards high technology and adaptation to climate change. It has policies to encourage enterprises in deep processing so as to set up a processing industrial center in Chu Lai mainly for export.