Chu Lai Open Economic Zone: a motive force for the development of Vietnam's Central and Central Highlands

• 02/05/2019 15:03

(QNO) - Chu Lai Open Economic Zone (OEZ) in Quang Nam province is turning to a multidisciplinary economic motive force in Vietnam’s Central and Central Highlands.

A part of the Chu Lai OEZ.
A part of the Chu Lai OEZ.

The Chu Lai OEZ is located next to the regional largest deep water port, on the national way 1A and the Da Nang-Quang Ngai high way. It plays an important role in international trade in Vietnam’s Central and Central Highlands. The Chu Lai OEZ is also the gateway to the East Sea of the Central Highlands, Southern Laos, Northeast Cambodia and Thailand.

Last year, the adjustment of general planning of the OEZ by 2035, towards 2050 was approved by the Prime Minister of Vietnam. Accordingly, the Chu Lai OEZ will be a multidisciplinary marine economic zone, key economic region in Central Vietnam; urban development area, center for automotive and aeronautical  industries, center for mechanics - electricity and petrochemical products, high-tech agriculture, tourist destination.

Vietnam’s Prime Minister takes part in the groundbreaking ceremony for THACO’s new wharf.
Vietnam’s Prime Minister takes part in the groundbreaking ceremony for THACO’s new wharf.

The key strategic projects Truong Hai Auto Join Stock Company (THACO) implements in the Chu Lai OEZ include the project of Expansion of THACO Chu Lai Mechanical Automotive Industrial Park covering an area of 115 hectares. It aims to lower THACO’s auto cost, increase localization rates for tourism cars in Vietnam to over 40%, export THACO’s autos to ASEAN countries by 2020 and establish a large-scale centralized multi-use mechanical center in Central Vietnam.

Another project is the 415-hectare Agricultural-Forestry Industrial Park with a total investment of more than VND8,000 billion. It firstly focuses on fruit trees and forestry trees. It aims to develop the area of raw materials in order to provide for Vietnam’s Central and Central Highlands, Laos and Cambodia.

Besides, THACO is building one more wharf that can receive 50,000-ton ships. It aims to attract more investment in the Chu Lai OEZ.