After four years since Van Phong Economic Zone was established in Khanh Hoa Province, its investment appeal has got promising results...
After four years since Van Phong Economic Zone was established in Khanh Hoa Province, its investment appeal has got promising results. The number of projects here has increased three times and the capital has risen fifty times. This is a good sign for the economic development of the province as well as the country.
Van Phong Economic Zone is one of 15 complex economic zones planned according to Decision 1353/QD-TTg dated September 23, 2008 of the Prime Minister approving the project "Master Plan on development of coastal economic zones of Vietnam till 2020”. The central project is the international container port, supporting by multi-industrial projects.
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After the economic zone was established, the provincial authority and the economic zone’s management have promoted clearing the ground and receive investment. For 4 years, Van Phong Economic Zone has attracted 67 new projects with a total registered investment of USD16.2 billion. Then, the number of projects in the economic zone is 88, including 28 ongoing ones worth USD0.33 billion, 39 ones granted certificate of investment with a registered capital of USD1.03 billion and 21 ones approved by the Prime Minister or in registering progress with a total investment of USD15.22 billion. Remarkably, Van Phong has absorbed some large-scale and meaningful projects, for example, Van Phong International Transit Port (VND6,117 billion in the first stage), Southern Van Phong Oil Refinery Complex (USD4.5 billion), Van Phong Electricity Center (USD3.8 billion), Tu Bong New Urban Area and High-class Yacht Area (USD3.7 billion) and Petroleum Industrial Service Base (USD1.4 billion). From September 2010 to 2013, many other big projects such as Ninh Thuy Cement Distributing Frame, Van Phong Oil Warehouse and Van Phong International Transit Port.
However, Van Phong Economic Zone is facing some difficulties, especially capital for infrastructure construction. According to the calculations, the economic zone needs about VND10,000 billion for infrastructures till 2015. Meanwhile, capital for the infrastructures from 2007 to 2010 is only VND300 billion, including VND275 billion funded by the Central and VND35 billion by the provincial fund. The sum of money is used mainly for ground clearance and investment preparation.
The provincial authority is still asking for more capital from the Central to finish the target of the economic zone timely.
T.T
