Lang Co tourism: Singapore's group to build tourism complex in Chan May-Lang Co (Hue) EZ
Singaporean Banyan Tree group has pledged 200 million USD to build an international standard tourism and services complex in central Thua Thien-Hue province's Chan May-Lang Co economic zone (EZ).
A memorandum of understanding to this effect has been signed between representatives of Banyan Tree and Thua Thien-Hue provincial people's committee.
The 200 ha complex will include six resorts and hotels with 2,400 rooms.
Banyan Tree have invested in 60 similar tourism and services complexes in 22 countries.
The Chan May-Lang Co EZ was established in January 2006, covering 27,000 ha. The zone, which is about 70 km from Hue city, boasts a seaport capable of accommodating ships with load capacity 5,000 tonnes or above and one of the country's most beautiful beaches, the Lang Co beach. Lang Co is being considered to be nominated to the list of the world's most beautiful beaches.
The EZ has lured 61 investment projects, including 23 projects in tourism, with four operational ones . Four others will be carried out in 2007.
Investment projects in Chan May-Lang Co EZ are entitled to preferential treatments in land leasing and taxation, such as an annual tax rate of 10 percent on business income for 15 years and a 50 percent reduction in other taxes in the first nine years of operation.
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