- News in Vietnam
- 28 October 2021
Expanding Southeast economic zone to 80,000 hectares
Nghe An will adjust the boundary of the Southeast Economic Zone (EZ) to 80,000 hectares, including 70,000 hectares of land and 10,000 hectares of the sea surface. In which the industrial park area is about 15,000 ha and renamed to Nghe An economic zone.
This is one of the critical contents of the project on developing the Southeast Economic Zone, the driving force for economic growth of Nghe An province in the period of 2021-2025, with a vision to 2030, which has just been approved by the Standing Board of the Nghe An Provincial Party Committee at the regular meeting in September.
In 2022, Nghe An will officially expand the boundary of the Southeast Economic Zone to the West along the N5 road connecting Hoa Son – Do Luong, the N2 highway connecting National Highway 7A, Highway 48D connecting Hoang Mai town with Nghia Dan district, National Highway 1A (passing Vinh city) and coastal areas for seaport development and resort tourism. At the same time, report to the Prime Minister to change the name to Nghe An EZ.
Nghe An will also submit to the Government to add Southeast Nghe An economic zone to the group of critical coastal economic zones of the country to get more development investment resources from the State budget in the 2021-2025 period.
Previously, in Notice No. 55-TB/TW dated April 20, 2019, about the preliminary review of 5 years of implementation of Resolution No. 26-NQ/TW of the 11th Politburo on directions and tasks for Nghe An province development. By 2020, Politburo has agreed to “study the addition of Southeast Nghe An economic zone to the group of key coastal economic zones; adjusting Dong Hoi specialized port area into a general port area.”
Southeast Nghe An Economic Zone was established in June 2007, currently has a total area of more than 20,776 ha, located in 6 districts and cities of Nghe An province.
As of July 2021, Southeast Economic Zone has 257 good investment projects with a total investment capital of more than 70,189 billion VND, equivalent to 3.03 billion USD; in which there are 52 FDI projects with a total investment capital of 1.09 billion USD, accounting for 75% of foreign investment capital in the province.
In the 2016-2020 period, budget revenue in the Southeast economic zone and industrial zones increased rapidly, with 2.34 times higher than in the 2011-2015 period, contributing nearly 10.5% of Nghe An’s total budget revenue.
However, up to now, after a period of implementation, the general plan of the Southeast economic zone has revealed some shortcomings, which are challenging to implement in practice; compensation and site clearance still face many difficulties. So the promulgation of the project to develop the Southeast economic zone, the driving force for economic growth of Nghe An province in the period of 2021-2025, with a vision to 2030, is over necessary to overcome the limitations and create more impetus for the development of this essential EZ.