Chan May-Lang Co economic zone receives large investment
Thua Thien-Hue (VNA) – The central province of Thua Thien-Hue has so far poured over 900 billion VND (56.2 million USD) in building infrastructural facilities of the Chan May-Lang Co economic zone.The Chan May deep-water port in the economic zone has a 130m long wharf, which is capable of receiving 50,000 tonne vessels. The Lang Co beach has, meanwhile, been filled with many hotels and resorts.
Investment projects in the Chan May-Lang Co Economic Zone enjoy a number of incentives, including low or even preferential tax rates applied for disadvantaged regions as stipulated by the Law on Foreign Investment in Viet Nam.
Individuals with high incomes (including Vietnamese and foreigners) working in the Chan May-Lang Co economic zone also enjoy a 50 percent reduction in income tax.
Businesses from Canada, China, Germany, Japan, the Republic of Korea, Taiwan, Thailand, the UK, and the US have come to the economic zone to seek opportunities and 14 foreign and domestic projects totaling 5.1 trillion VND were licensed. Singapore’s Banyan Tree Group is the leading investor in the Chan May-Lang Co economic zone with an investment capital of 276 million USD.-Enditem
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