However, for various reasons, the zone went through many ups and downs while undergoing adjustments in operation. Despite certain constraints, Chu Lai Open Economic Zone has still managed to thrive, bringing great benefit to Quang Nam Province.
To date, the Chu Lai Open Economic Zone has over 100 licensed projects, with a total investment capital of over US$2 billion. Apart from the US$400 million investment from Trường Hải Auto Group, there are many other large-scale projects with hundreds of millions of US dollars in investment. They have helped increase industrial production value, and comprise 60% of total budget revenues of Quang Nam Province.
"Look at these numbers. We can see that Chu Lai Open Economic Zone’s contribution to the development of the Province’s economic sector is very impressive." - Dinh Van Thu, Chairman, Quang Nam Province People's Committee.
Despite its remarkable success, Chu Lai Open Economic Zone still faces many challenges. Preferential policies and the mechanism applied to this area are unclear; investment resources are limited; and supporting industries have not been developed.
"All preferential policies for Chu Lai as well as other economic zones need to be revised. The times have changed and conditions are not the same as 10 years ago. Chu Lai needs more investment, especially in infrastructure, to attract more foreign experts." - Pham Van Tai, Vice Director, Truong Hai Auto Corporation.
In order to solve these problems, the Management Board of Chu Lai Open Economic Zone is proposing 5 development programs. Apart from the automotive industry, they plan to build the South Hoi An Tourism – Services Complex, upgrade Chu Lai Airport, and develop supporting industries in the area.
"We’ll focus on developing qualified human resources. We have also proposed to the Government a new mechanism specifically made for Chu Lai." - Do Xuan Dien, Head, Management Board, Chu Lai Open Economic Zone, Quang Nam Province.
Quang Nam Province is also prepared to welcome new flows of investment, along with a series of newly-launched projects. It’s a great opportunity for Chu Lai Open Economic Zone to step into a new stage of development.
