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  • News
  • News in Vietnam
  • 14 March 2022

An urge for the mechanism to draw “eagle” in Van Phong economic zone development

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The directive has been issued by Prime Minister Pham Minh Chinh after a site inspection in Van Phong Economic Zone (EZ) in Khanh Hoa province.

During his trip to Khanh Hoa province from March 12 to 13, Prime Minister Pham Minh Chinh and the Central Committee’s delegation spent plenty of time inspecting and surveying a number of areas under orientation to become a socio-economic center of this province in the coming time.

In Van Phong EZ, the Prime Minister had made a site visit to survey the investment potential of tourism and high-tech industrial projects. Prime Minister Pham Minh Chinh has fully been aware of the economic development potential of Van Phong EZ. However, with the purpose of promoting the strengths of Van Phong EZ, in addition to state budget investment, it is necessary to have a breakthrough mechanism to attract investment resources of foreign investment groups, economic groups, and domestic private sector aiming at fully exploiting total economic resources.

The Prime Minister also addressed that the Government would provide mechanisms and facilitate Van Phong in attractinginvestment for development. Regarding real estate projects, jobs must be secured so that people will be more confident to come to work, live, and buy houses, he also noted. Localities need to develop infrastructure to attract investment, promote production and business, create jobs, attract human resources to work, and residents to live in harmony with common interests.

Additionally, the Prime Minister also mentioned the need to be well-organized in planning works, to which public-private cooperation would be bolstered to intensely mobilize development resources under 3 models: private investment forpublic use; public investment with private management; public leadership with private management.

According to Khanh Hoa province, it is currently consulting to adjust Van Phong Economic Zone in the direction of developing coastal urban and key tourist areas in the region. The southern part of Van Phong EZ will become the national and regional center of electrification. Currently, the area received numerous projects investment applications with 3 out of which are at the international level.

Up to this point, Van Phong EZ has attracted 150 projects, with a total investment capital of more than 4 billion USD; including 120 domestic projects and 30 foreign projects. 

(Source: tuoitre)