Thua Thien-Hue province lures over $33 mln in FDI in 5 months

Vietnam's central province of Thua Thien-Hue granted licenses to eight foreign direct investment (FDI) projects worth more than $33 million in the first five months of this year.

During the period, the province attracted 20 new projects, both foreign and domestic investments, with total registered capital of over VND5.2 trillion ($204.3 million), according to the provincial Department of Planning and Investment.

330 enterprises were established in Thua Thien-Hue from January-May with total registered capital of VND1.68 trillion ($66 million), up 5% and 2.3% year-on-year, respectively.

The disbursement of public investment capital recorded positive results, hitting nearly VND1.5 trillion ($58.94 million) out of the nearly VND6.25 trillion allocated by the government, equivalent to 24% of the year plan and higher than the national average of 17.5%.

The province’s state budget revenue is expected to reach VND8.84 trillion ($347.35 million) by end-Q2 or 65% of the year target, and VND11.56 trillion by end-Q3, or 85%.

Nguyen Dai Vui, director of the provincial Department of Planning and Investment, said that in the coming time, the province will focus on removing difficulties for businesses and completing its socio-economic plan. It will also make the best preparations for the Hue Festival 2024 on June 7-12, he added.

According to the provincial People's Committee, new FDI projects set to go into operation in the near future include the first phase of the Kanglongda Hue factory project of Hong Kong’s Kanglongda International Holdings Limited with total registered investment of more than VND4.8 trillion ($188.6 million).

The Aeon Mall Hue project in the An Van Duong urban area is in the final stages and is expected to officially open in September 2024.

The wholly foreign invested Phu Son waste treatment plant project with a total investment of VND1.7 trillion ($66.8 million) was inaugurated in April.

Along with putting FDI projects into operation, Thua Thien-Hue will speed up the progress of key projects using state budget capital and urgently complete procedures to start construction of transport infrastructure projects such as To Huu road leading to Phu Bai Airport, Ring Road 3, and the North-South Expressway’s Cam Lo-La Son section.