Together with other economic zones in the central region like Chu Lai, Dung Quat and Nhon Hoi, the Chan May – Lang Co Economic Zone would act as momentum for development of this region and the bridge between the central part of Vietnam with northeast Thailand, central southern Laos and northeast Cambodia.
According to Mr. Vu Tien Loc, VCCI Chairman, in addition to high competition pressure in big economic centers like Hanoi, Ho Chi Minh City, Vung Tau, etc, businesses are facing a fierce competition in seeking for resources, especially human resource. However, such pressure has brought about chances for other localities. Potential localities like Thua Thien – Hue would be good destinations for businesses to diversify their business”.
Meanwhile, Thua Thien – Hue province’s officials promised that the local authorities would offer investors with preferential treatment. “The current investment has not matched the locality’s potential and aims for socio-economic development”, said Mr. Nguyen Ngoc Phuc, Deputy Minister of Planning and Investment.
Under the plan for development of the Chan May – Lang Co Economic Zone until the year of 2010, this would become a center for trade and tourism at the regional and international levels. In particular, there would be a 962ha free-duty area. To realize these aims, the local authorities would develop the Chan May IP, Lang Co Residential Area and Lang Co Town.
The province has planned to offer several preferential treatments to lure investors to come. Corporate income tax rate would be 10% for the first 15 years of a project.  Corporate income tax would be zero for the first 4 years since a firm is subject to this kind of tax. A 50% corporate tax discount would be offered for the next 9 years. Free import duty would be offered to many products. In particular, employees in the zone would enjoy a 50% income tax discount.
Currently, 13 projects worth a total of $80 million are being carried out in the zone.
Director Hoang Quoc Hung of the Bank for Investment and Development of Vietnam (BIDV) said the bank would facilitate investors coming to Thua Thien – Hue by providing good banking services at reasonable prices. Representative from the Industrial and Commercial Bank of Vietnam (Incombank) said the bank planned to invest as many as VND300 – 500 billion in the VND2,800 billion A Luoi hydro-power plant in Thua Thien – Hue. The bank’s Director, Mr. Nguyen Viet Manh expressed his confidence in prospect of economic and tourism development in this locality and promised to further grant loans to effective projects there.

Source: Thời báo Kinh tế Việt Nam