Despite difficulties, Van Phong Economic Zone developed stably in 2010 and continues attracting investment in 2011...
Despite difficulties, Van Phong Economic Zone developed stably in 2010 and continues attracting investment in 2011.
In 2010, the management of Van Phong Economic Zone granted investment certificate for 17 new projects with a total registered capital of USD67.25 million and licensed 13 other ones to add USD165.55 million in capital.
At present, the economic zone has many projects which are in progress such as Van Phong Transit Port, Van Phong Petroleum Warehouse, Nix Treatment Factory and Hon Ngang – Bai Cat Tham Marine Ecological Tourist Area. Many other projects have been finished and put into operation, for example Ninh Thuy Cement Distributing Station and Cashew Nut Processing Factory.
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Due to influences of the global economic crisis, many businesses in the economic zone meet some difficulties in capital and market. However, right from the beginning of the year, the businesses took the initiative in solving difficulties to attain good growth rates. For instance, Hyundai Vinashin Shipyard Co., Ltd. built 7 new ships, launched 7 and exported 5. Additionally, the company repaired 30 foreign ships. The company got a turnover of USD290 million in 2010, increasing by 19% over 2009, including USD214.6 million in export turnover. It also created jobs for 3,170 laborers.
To attract investors, the management of Van Phong Economic Zone attached importance to infrastructure construction.
In 2011, 10 projects with a registered capital of USD5.5 billion will be granted investment certificate at Van Phong Economic Zone, including the first period of Van Phong Electricity Center (USD2 billion), the first period of Southern Van Phong Oil Refinery Complex (USD1 billion), Oil Industry Service Base Area (USD1.4 billion) and Van Thang Industrial Zone (USD200 million). The management of Van Phong Economic Zone is calling for domestic and foreign investment in other big projects such as tax-free area, Northeast Ninh Hoa urban area and other projects in Ninh Tinh Petrochemical Area.
Van Phong Economic Zone will forward progress of current projects and attract more projects in 2011.
T.T
