New opportunities for Chu Lai

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(QNO) - The recent survey and evaluation of the Chu Lai Open Economic Zone (OEZ) by the Consultative Group from the Coordinating Committee for the Central Coast and the Centre for the Central Research, Consultancy and Development has brought optimistic opportunities to Chu Lai.

Tam Hiep port: the infrastructure attractive to investors
Tam Hiep port: the infrastructure attractive to investors

A successful local economic zone

After 15 years of the Chu Lai OEZ’s development, according to its Management Board, there are some prominent achievements. 85/125 investment projects with the total implemented capital of over USD 1.14 billion are officially operating at this economic zone. 90% of the Chu Lai – Truong Hai automobile industrial park (IP) has been occupied. Two others IPs have been filled up to 65%. The infrastructure of the Tam Anh – South Korea IP (200ha) is being invested. The projects in this OEZ have created key industrial products, accounting for 48.38% of the provincial industrial production value, regularly attracting about 20,295 labourers, and contributing 90% of the provincial budget revenue.

Chairman of the provincial People's Committee Dinh Van Thu highly evaluated the Chu Lai OEZ’s infrastructure system because it positively impacts on Quang Nam, the surrounding areas and all over the country in terms of sea, road, and air transport. The Chu Lai OEZ is the driving force, facilitating industrial production and service activities, promoting Quang Nam provincial economic restructuring towards industrialization, bringing Quang Nam to the group of the provinces with high revenue. Significantly, the Chu Lai OEZ has changed the appearance of this desolate sand area, creating a new awareness of socio-economic development in the coastal region in the integration period.

Industrial production at the Chu Lai OEZ
Industrial production at the Chu Lai OEZ

Though the Chu Lai OEZ is considered to be the most efficient of the 15 economic zones in Vietnam, its current success is at the level of a local economic zone, said Mr. Do Xuan Dien – Chief of the Chu Lai OEZ’s Management Board. Its development doesn’t meet the expectation of a regional and international economic zone because of the limit of preferential policies.

There should be different policies

According to Chairman of the Quang Nam provincial People’s Committee Dinh Van Thu, the Chu Lai OEZ has all conditions to become a special economic zone. Quang Nam is oriented to welcome 8 million visitors by 2020. The provincial industrial production accounts for 92%. 4/6 key project groups are invested into the Chu Lai OEZ. However, the current mechanisms and policies have not created breakthroughs nor competitiveness nor openness in the FDI attraction. So, he suggested the government having different policies for the development this Central key economic zone.

Dr. Tran Du Lich – member of the Prime Minister’s Economic Advisory Team, Leader of the Consultative Group under the Coordinating Committee for the Central Coast stated that the Chu Lai OEZ was the most successful model compared to 4 other economic zones in the Central Coast including Chan May, Dung Quat, Nhon Hoi, and Nam Van Phong. He added if Quang Nam took good advantage of the Chu Lai airport, the provincial development would not limit as it is now. At the same time, he suggested building Chu Lai airport as an air logistic industry, which will create conditions for the development and expansion of the Chu Lai OEZ, towards building national trade names for provincial industrial products.

Finally, the decision to adjust and expand the planning and development space of the Chu Lai OEZ came into force on September 5, 2017. Is it an optimistic new opportunity for the future of Chu Lai?