Prime Minister Nguyen Tan Dung on Saturday praised Thua Thien-Hue city Province for its efforts to draw investment to the Lang Co-Chan May economic zone.

Dung made his remarks on a visit to the economic zone (EZ) to witness the launch of two major investment projects worth nearly US$947 million.

The Chan May-Lang Co EZ is located on a 271 square kilometers area facing the East Sea, next to the central Vietnamese hub of Da Nang and close to Hue, the former imperial capital.

It is also a part of the East-West Economic Corridor, a 1,500 km road linking Vietnam, Thailand, Laos and Myanmar to strengthen trade and tourist development and cooperation between the countries.

Dung said the EZ possesses various potentials and advantages as its location includes the Chan May deep-water seaport and the Lang Co bay, which has been recognized as one of the world’s most beautiful bays.

It is also close to a number of world heritage sites such as Phong Nha-Ke Bang, Hue, Hoi An ancient town and My Son ruins.

According to the EZ management, after three years of operation, it has registered 33 investment projects with a total pledged capital of $2 billion.

One of the two projects launched Saturday was the Laguna Hue resort project, in which Singaporean luxury resort developer Banyan Tree seeks to invest nearly $900 million.

Meanwhile, the Saigon-Hue Invest Company, a subsidiary of the Saigon Invest Group, registered to invest VND1.28 trillion ($74.8 million) in developing the Saigon-Chan May industrial and duty free zone.

Dung asked local authorities, EZ management and investors to help relocate local residents whose land has been taken for the projects.

He also called on them to establish vocational training centers to help residents find jobs in the EZ.

Reported by Bui Ngoc Long