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Thua Thien-Hue economic zone plagued by sluggish pace

Many tourism projects at Chan May-Lang Co Economic Zone in the central province of Thua Thien-Hue have been delayed or remained on paper.

Many tourism projects at Chan May-Lang Co Economic Zone in the central province of Thua Thien-Hue have been delayed or remained on paper.

Thua Thien-Hue economic zone plagued by sluggish pace - 1

Minh Vien Lang Co resort project was licensed in 2015 with a total investment of VND7.72 trillion (USD315.11 million).

Thua Thien-Hue economic zone plagued by sluggish pace - 2

However, site clearance problems and the impact of the Covid-19 pandemic have caused the project to be suspended since 2020. To date, around 40 percent of the project has been finished.


Thua Thien-Hue economic zone plagued by sluggish pace - 3

The provincial Industrial Parks and Economic Zone management board has worked with the project investor to get the project back on track. According to the investor, they will arrange the capital to continue the project and are scheduled to operate it from the second quarter of 2025.

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Many of the project facilities have been grown over with wild grass.

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The total investment of Mediterraneo Resort has been raised to VND838.50 billion (USD34.21 million) after being adjusted four times. Roughly 80 percent of the project had been completed, but the work has been halted since 2020.

Thua Thien-Hue economic zone plagued by sluggish pace - 6

The project included villas, restaurants, retail stores, swimming pools, and spas among other amenities. Thua Thien-Hue authorities have worked with the investor of Mediterraneo Resort many times and are now arranging capital to resume the project.

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Chan May-Lang Co Economic Zone covering a total area of 27,108 hectares in Phu Loc District attracted 57 investment projects with total registered capital of over VND87 trillion (USD3.71 billion), creating jobs for some 4,700 workers. However, the number of FDI projects in the zone has remained modest, with an occupancy rate of just 3 percent by mid-2023.

Content link: https://dtinews.dantri.com.vn/vietnam-today/thua-thien-hue-economic-zone-plagued-by-sluggish-pace-20240319081246767.htm