The Chan May-Lang Co economic zone in the central province of ThuaThien-Hue has set a target of attracting over 1.5 trillion VND (70.5million USD) this year.

To realise this, the province hasinvested more than 1.9 trillion VND in infrastructure in transport,electricity, water and telecommunications in order to lure moreinvestors to the area.

It will now focus on untangling knotsfor businesses while creating favourable conditions for investors andbusinesses to implement projects.

A total of 76administrative procedures will be applied in the economic zone, coveringareas such as employment, construction, environment, planning and landmanagement.

The Chan May-Lang Co economic zone has, so far,attracted 32 projects with a total registered capital of more than 35.4trillion VND, including 10 foreign direct investment projects worth 21trillion VND.

Most worthy of note is the 875 million USDresort complex of Laguna Lang Co invested by the Banyan Tree Group ofSingapore.

The first phase of the 280 ha project, whichhouses 427 rooms and a 18-hole golf course, has been put into service,helping generate jobs for about 600 people.

The economiczone’s management board has reclaimed five projects with a combinedcapital of more than 4.5 trillion VND because of their low progress.Another four projects are under consideration.-VNA