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Investor of Da Nang’s Lien Chieu IZ changed

The Prime Minister has agreed to change the investor of Da Nang City’s Lien Chieu Industrial Zone (IZ) to enable the IZ to enjoy the city’s preferential policies.

Under the PM’s approval, the investor of this IZ will be transferred from the Central Region Construction Corporation (Cosevco) to the Da Nang IZ Infrastructure Development Company (Daizico), a member of the Da Nang IZs and EPZs Management Board.

The Lien Chieu IZ was established in April 1998 with a total planned area of 378ha. So far, Cosevco has completed site clearance, surface levelling and infrastructure construction in the first phase. However, the pace of implementation has not met the requirements of investors, resulting in the municipal People’s Committee’s decision to change investors.

Along with the latest task, Daizico now takes the responsibility to invest in and develop the infrastructure of four out of five operating IZs in Da Nang City, including Hoa Khanh, Hoa Cam, Tho Quang and Lien Chieu.

In accordance with Decisions 50 and 51 on attracting investment issued by the Da Nang People’s Committee this March, investors in the Lien Chieu IZ will also enjoy investment incentives like those in the Hoa Khanh, Hoa Cam and Tho Quang IZs.

Previously, investors in this IZ were not allowed to enjoy those preferential policies.

Vietnam Net - (11/08/2004)

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