1. Strategic location
With a coastal line of over 1,500 km, Central Vietnam located in a favourable geographical position between the country’ two major economic - political centers (Hanoi and Ho Chi Minh city), lying on the North-South traffic axis of railway, highway, sea way and airway, next to the international maritime transport and shipping routes. Being the final point of the EWEC (1,450 km) stretching from Myanmar, through Thailand and Laos, this area is the important gateway to the East Sea of Greater Mekong Sub-region (GMS) countries. Therefore, Central Vietnam owned competitive advantages to develop key marine-economic sectors contributing to the region’ growth such as oil refinery, ship building, maritime transport and shipping, logistics (including transshipment via airports and seaports), investment and trading of seaside resorts, high class tourism and service areas, etc.
Danang Searport - the final point of the East West Economic Corridor (EWEC)
2. Rapidly - developing infrastructure
Central Vietnam possessed a series of being - upgraded airports, consisting of 03 international airports Danang (the 3rd biggest one), Cam Ranh (Khanh Hoa) and Phu Bai (Thua Thien – Hue) and many domestic ones as Chu Lai (Quang Nam), Phu Cat (Binh Dinh), Dong Tac (Phu Yen), Pleiku (Gia Lai) and Buon Me Thuoc (Daklak), of which Chu Lai is being promoted to be an international transshipment airport in the region. The system of deep sea ports available is being quickly upgraded and improved in infrastructure, including Tien Sa (Da Nang), Quy Nhon (Binh Dinh), Chan May (Thua Thien - Hue), Ky Ha (Quang Nam), Dung Quat (Quang Ngai), Vung Ro (Phu Yen), Cam Ranh and Van Phong international container transshipment port (Khanh Hoa).
So far, an urban system has been shaped in which there are some major cities (Da Nang, Hue and Nha Trang). Remarkably, the region possessed 01 out of 03 of the hi-tech parks being in nationwide area(Danang), a series of focal Economic Zones namely Dong Nam Quang Tri, Chan May Lang Co, Chu Lai, Dung Quat, Nhon Hoi, Nam Phu Yen, Van Phong, Bo Y International Border Gate Economic Zone, Lao Bao, Le Thanh, Nam Giang, A Dot Border Gate Economic Zones…together with nearly 50 industrial zones with with rather complete infrastructure, indicating its readiness to satisfy investors’ demands.
3. Many attractive incentives for investment
Most of economic zones (EZ) and industrial parks (IP) are concentrated in Central Vietnam with open mechanism, simple investment procedures, stable and long-term priority including incentives on tax, term of land use and rental price, support for training, supply of labour force, etc. Up to now, some of IPs have fundamentally been filled up as Phu Bai (Thua Thien - Hue), Hoa Khanh (Da Nang), Dien Nam – Dien Ngoc (Quang Nam), Tinh Phong (Quang Ngai), Phu Tai (Binh Dinh), Northeast Song Cau (Phu Yen), Ham Rong (Gia Lai), Hoa Binh (Kon Tum), etc.
4. Rich in natural resources and well-known tourist sites
Central Vietnam is rich and diversified in natural resources, with huge aquatic reserve, many salt-marshes, sand mine, especially white sand as raw material for glass and crystal processing industry. Moreover, the region has valuable types of wood and medical plants such as cinnamon, anise, pine, aloe wood and ginseng, particularly Ngoc Linh ginseng (in Quang Nam and Kon Tum) which is considered to have high nutritional value. There are also large mineral reserves of gold, titan, bauxite, wolfram, tin, kaolin, limestone, coal, petroleum, etc.
The region has many landscape, historical and cultural sites recognized by UNESCO as the World’ Heritages: Hue Citadel, Hoi An Ancient Town, My Son Sanctuary, Hue Royal Ceremonial Music, the space of Central Highlands gong culture, etc. There are many beautiful beaches and gulfs such as Nha Trang (Khanh Hoa), Lang Co (Thua Thien - Hue)…Da Nang Beach is evaluated by Forbes Magazine (United States) as one of the world’ six most beautiful beaches. Nha Trang Bay is one of the world’ 29 most beautiful bays voted by the World Gulf Club. Therefore, Central Vietnam has outstanding competitive advantages for attracting potential investors into the sector of high - class tourism and services, focusing mainly on projects in real estate investment, development of international - standard villas, “5 - star” resorts and entertainment sites for foreigners, etc.
5. Abundant and competitive - cost labor force
Central Vietnam has an abundant labor force at competitive costs. Majority of them are young, healthy, friendly and able to quickly acquire modern technology, while the labor cost here can be lower than that of other provinces or cities.
