Van Phong accelerates investment attraction

Van Phong Economic Zone is showing strong signs of recovery as it continuously welcomes billion-dollar projects. With the drastic participation of local authorities and the Van Phong Economic Zone Management Board, this area is confident on the journey to realize the goal of becoming a dynamic economic growth pole of the province.

Focusing on supporting investors

In the first 6 months of the year, the Van Phong Economic Zone Management Board has granted 6 new projects, with a total investment capital of nearly 3,000 billion VND, and at the same time adjusted the capital increase for 2 existing projects by 296.07 billion VND. Accumulated to the present time, Van Phong Economic Zone has attracted 155 investment projects (131 domestic projects and 24 foreign-invested projects), with a total registered capital of about 5.4 billion USD. Of this, the realized capital has reached 3.3 billion USD, equivalent to 61% of the registered capital, with 106 projects in operation.

Along with attracting new projects, the Van Phong Economic Zone Management Board especially focuses on supporting investors to complete construction and put large projects into operation on schedule. Notably, the Hon Ngang - Bai Cat Tham Marine Eco-tourism Project (455.23ha, total capital of about 25,253 billion VND); Co Ma New High-class Urban Area (5,900 billion VND); Doc Let Phuong Mai Tourist Area Project (area of ​​152.45ha, total investment capital of 4,072 billion VND) are all being actively supported for implementation.

For industrial parks, the Ninh Thuy Industrial Park Infrastructure Construction and Business Investment Project (207.9ha, capital of VND 294.7 billion) has so far attracted 29 investment projects (5 foreign-invested projects and 24 domestic projects), with a total registered capital of VND 5,891.21 billion. To date, the implemented investment capital is VND 2,222.3 billion, 16 projects are in operation and 12 projects are under investment and construction, with an occupancy rate of about 55.5%.

As for Doc Da Trang Industrial Park Infrastructure Construction and Business Investment Project (288ha, total capital of about VND 1,800 billion), the investor held a groundbreaking ceremony in April. However, the project is behind schedule in the site clearance step. The provincial People's Committee has directed Ninh Hoa Town People's Committee to urgently speed up the progress and complete the site clearance work early to ensure the commencement of construction in the third quarter of 2025. The Van Phong Economic Zone Management Board is also actively coordinating with localities to speed up the site clearance process, helping investors implement projects as committed.

North Van Phong area attracts a series of billion-dollar projects.

Strengthening investment promotion

In addition to supporting investors, in recent times, the Van Phong Economic Zone Management Board has also actively promoted investment in many aspects. The management board has welcomed and worked with businesses to research and learn about investment in Van Phong Economic Zone in many fields. Among them, there are large corporations such as: Sonadezi Corporation, Hoa Sen Group Joint Stock Company, Shinec Joint Stock Company, Indel Investment and Development Joint Stock Company, etc.

International promotion activities have also been promoted. In February, the board's leaders attended a meeting with subcontractors of HD Hyundai Group, Korea. In April, the organizing committee sent a delegation from Ulsan City (Korea) to conduct a field survey in the southern Van Phong area. In particular, in May, the committee's leaders joined a working delegation from Khanh Hoa province to Singapore to promote and seek potential investors interested in investment projects of the province and Van Phong Economic Zone in the fields of seaports, energy, high-tech industry, and electronics. In June, the committee continued to organize a working delegation from the Vietnam - Korea Business and Investment Association (VKBIA) to conduct a field survey in the southern Van Phong area to seek investment cooperation opportunities.

Currently, Van Phong Economic Zone is implementing to attract many key projects such as Tu Bong high-end new urban area (about 39,000 billion VND) and Dam Mon (about 25,000 billion VND); Ho Na high-end resort project; Project of high-end tourism, resort and entertainment complex with Hon Lon golf course in subdivision 1; Project of high-end service and tourism complex of Khai Luong mountain in subdivision 2. Projects of Ninh Diem 3 Industrial Park (phase 1: 135ha), Ninh Diem 1 (250ha); Ninh Xuan 1; Ninh Xuan 2 (area 498.3ha, total investment capital of 4,033 billion VND) ... are being actively supported in investment procedures, as well as implementing project proposal and licensing steps. Le Hong Phuong - Deputy Head of Van Phong Economic Zone Management Board said that in the last 6 months of the year, the board will continue to focus on attracting about 2 investment projects in priority sectors and fields according to Resolution No. 55/2022/QH15 of the National Assembly and other projects according to the approved zoning plan with a total new investment capital of about 30,000 - 50,000 billion VND. The board continues to monitor and urge investors to speed up the construction progress of licensed projects such as Hon Ngang - Bai Cat Tham Tourist Area, Doc Da Trang Industrial Park, Ninh Thuy Industrial Park, Doc Let Phuong Mai Tourist Area and a number of other projects. Investors who have signed memorandums of understanding with Hoa Binh province.

The board will actively support investors who have signed a memorandum of understanding with the province to complete the investment proposal dossier and implement the investment approval procedures according to regulations for large industrial park projects such as: Ninh Xuan 1 (499ha), Ninh Xuan 2 (498.3ha), Ninh Son (480ha), Ninh Diem 3 (290ha), Nam Cam Ranh (350ha)... when qualified.

In addition, the Van Phong Economic Zone Management Board will coordinate with relevant agencies to support and urge investors to speed up the site clearance and infrastructure construction progress to put Ninh Thuy Industrial Park into operation in 2025, in order to create conditions to attract secondary projects, contributing to increasing new investment capital for Van Phong Economic Zone. Along with support, it is necessary to review and handle projects that are behind schedule; strengthen inspection and supervision of investment projects that have been approved for investment policy, investment certificates to speed up construction progress and put projects into operation soon.

Dinh Lam

Translated by T.T