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Mar 08, 2018 / 08:27

Central key economic zone invites US investors

Seven provinces in the central key economic zone introduced their investment opportunities to American investors at the ‘Meet USA in 2018’ on March 6 in the central coastal city of Danang.

Nguyen Tien Hoang, Vice Chairman of the People’s Committee of the Quang Tri province, said that his province prioritizes the investment in the recycled energy industry as it has advantages in land, intensity of radiation and number of sunshine hours in the year.
Dung Quat Oil Refinery in Quang Ngai province
Dung Quat Oil Refinery in Quang Ngai province
The province is drafting a solar and wind power development plan till 2025, with vision to 2035, to submit it to the Ministry of Industry and Trade and the Government for approval by the end of 2018, Hoang said.
Quang Binh, therefore, expects to receive the American investors to study and invest in the recycled energy industry, Hoang said, adding that the province commits to doing its best to create maximum favorable conditions for the investors.
Meanwhile, Phan Ngoc Tho, Vice Chairman of the People’s Committee of Thua Thien-Hue province, called for American investment in logistics development of its Chan May Seaport, which is among seven largest ports in the central region.
American firms currently invest in 16 projects worth US$53 million in Thua Thien-Hue province, mainly in information and technology, and textile and garment. The province, meanwhile, exported goods valued at $422 million to the American market.  
At the meeting, Vice Chairman of Danang City Ho Ky Minh invited the US firms to invest in high-tech zones, saying that the VND900 billion Danang High Tech Zone is one of Vietnam’s three high-tech zones with an area of ​​1,284 hectares. The zone currently attracts 10 projects worth $250 million and is expected to lure 10 more projects with a total capital of $300 million this year.
At the beginning of 2018, the Prime Minister issued a decree on preferential mechanisms and policies when investing in Danang industrial and high-tech zones, such as exempting land for projects, applying the tax rate of 10 percent for many years and enjoying the tax rates import, Minh said.
Danang selected 2018 as the ‘year to promote investment attraction’, so the city commits to create favorable conditions for foreign investors, including those from the United States, to study and invest in the city, especially in the high-tech zone, Minh added.
With the Dung Quat Oil Refinery, Tran Ngoc Cang, chairman of the Quang Ngai People’s Committee, said his province expected the American firms to take part in the development of the province’s industrial sector, especially petrochemical industry. 
“The province will create conditions for investors to succeed as we consider the success of investors our own success, " Cang said.
Meanwhile, leaders from the Quang Ngai province hoped that American firms to invest in the province’s Chu Lai Airport to turn it become an international aviation hub.
At the event, Vietnamese Permanent Deputy Foreign Minister Bui Thanh Son highlighted the tangible and effective cooperation between Vietnamese and US localities and businesses across a variety of fields.
Vietnam attaches significant importance to its relationship with the US and is ready to cooperate with the country in order to continue its reform and renovation process, whilst also creating a favorable business environment, Son noted.
He described the cooperation between Vietnamese localities and US businesses, partners and localities as a pillar of the Vietnam-US comprehensive partnership, which was first established in 2013.
US Ambassador to Vietnam Daniel Kritenbrink affirmed that US firms will stand side by side with their Vietnamese partners in development, calling on Vietnam to further push international integration and facilitate the operation of US enterprises in Vietnam.