Vietnam central province to focus on making Open Economic Zone major driving force: official

Quang Nam will pool its resources to further develop the Chu Lai Open Economic Zone (OEZ), making it the main driving force for the central Vietnam province, said provincial Vice Chairman Ho Quang Buu.

Could you tell us about the results of investment attraction at the Chu Lai Open Economic Zone?

The Chu Lai Open Economic Zone has so far attracted 197 projects with total registered investment capital of about VND74 trillion ($3 billion) in the fields of industry, trade, services, and urban housing. They include 48 FDI projects with a combined registered capital of about VND17 trillion ($694 million) and 149 domestic ones worth VND57 trillion.

Currently, the OEZ is home to many large investors such as Truong Hai Group (Thaco) with 37 investment projects in automobile manufacturing and assembly and support industries valued at over VND33 trillion; Hyosung Corporation of South Korea with $245 million projects in the field of manufacturing curtain fabrics and airbags.

Notably, in the 2017-2022 period, despite the impact of the Covid-19 pandemic and global economic difficulties, the OEZ still lured 85 projects with total registered capital of $2.5 billion.

Could you provide more specific information about the contributions of the Chu Lai Open Economic Zone to the development of Quang Nam province?

After 20 years of construction and development, projects in the Chu Lai Open Economic Zone have made important contributions to the development of Quang Nam province, accelerating local industrialization and modernization, and promoting the province's economic restructuring towards gradually increasing the proportion of industry and services.

The role of the OEZ has been gradually affirmed in the general development not only of Quang Nam province but also of the central key economic region.

Notably, the budget revenue in the area where the Chu Lai Open Economic Zone is located has gradually increased over the years, especially in the last five years (2018-2022), hitting VND77.7 trillion ($3.16 billion) last year, accounting for over 60% of the province’s total budget revenue. Projects in the OEZ have created jobs for more than 30,000 laborers.

What is the development orientation for the Chu Lai Open Economic Zone in the coming time?

In the 2021-2025 period, with an orientation to 2030, the southeast of the province (mainly the Chu Lai OEZ) continues to be identified by the provincial Party Committee as one of the driving forces of Quang Nam province.

Six key project groups to be focused on include the group of coastal and riverside urban tourism projects; the group of automotive and multi-purpose mechanical projects; the group of industrial and high-tech industrial parks; the group of industrial and aviation services projects; the Chu Lai seaport and logistics group; and the group of safe, hi-tech agricultural product projects.

These key project groups will create a driving force for economic development in the southeast localities in particular and Quang Nam province in general.

What solutions will Quang Nam province take to help the Chu Lai OEZ achieve its set plan?

In the coming time, the province will focus on planning functional areas and subdivisions in the OEZ, including completing the planning and development plans for industrial parks, and adding plans for the development of new industrial parks under the eco-industrial park and specialized industrial park models to the master plan of Quang Nam province for the 2021-2030 period, with a vision to 2050.

The province will identify key industries, with priority given to clean industry, high technology and processing industries, using the automobile manufacturing and assembly industry as its spearhead, in combination with the development of supporting mechanical industries. It will form and develop the aviation industry associated with logistical services, and the gas - electricity industry.

At the same time, Quang Nam will prioritize resources to continue investing in synchronous traffic infrastructure to connect the Chu Lai OEZ with the outside world, especially the Cua Lo channel for ships of 50,000 deadweight tonnage (DWT), the Chu Lai international airport associated with the non-tariff area in Tam Quang, and seaport and logistics systems.

It will form important connection transport networks of the OEZ, including the coastal road from Da Nang to Chu Lai, horizontal routes connecting the coastal road with National Highway 1A and expressways, and social infrastructure facilities serving socio-economic development.

In addition, the province will focus on implementing site clearance compensation and investing in completing essential infrastructure in industrial parks to ensure industrial land funds to attract investment projects.

What about solutions to attract investment to the province?

The province will focus on luring investment from large corporations with financial potential, modern technology, brands, and good will, and especially FDI flows from South Korea, Japan, the U.S., and Europe.

It will prioritize attracting large-scale projects; industrial production projects with high-added-value products; projects with distinctive products and services; projects using high technology, domestically made raw materials and components, in the form of joint ventures and links with domestic enterprises; and projects of multinational companies with international brands and high competitiveness.

Improving the business and investment environment is one of three breakthrough tasks to promote the successful implementation of the province's socio-economic development goals and tasks.

To fulfill its goals, Quang Nam is determined to "take people and businesses as the center; taking the goal of reinforcing trust and improving satisfaction among people and businesses as a measure of service and management quality of state administrative agencies from provincial to grassroots levels."

In addition, it will gradually perfect its e-government platform to improve the effectiveness and efficiency of the state administrative apparatus and the quality of serving people and businesses. The province will further cut unofficial costs in implementing administrative procedures to promote a transparent and open business environment.