Investors propose to implement projects in South Phú Yên Economic Zone

May 12, 2023 - 08:32
Hòa Phát Group proposed to invest four projects in South Phú Yên Economic Zone.
Planning map of Bãi Gốc Port. — VNA/VNS Photo

PHÚ YÊN — Many investors have proposed the south-central Phú Yên Province to approve investment policies, heard a conference held on Wednesday by the provincial Party Committee to collect opinions on the implementation of projects in Hòa Tâm Industrial Park, which belongs to South Phú Yên Economic Zone.

Hòa Phát Group proposed to invest in four projects in South Phú Yên Economic Zone including an infrastructure business project in Hòa Tâm Industrial Park, Bãi Gốc Port, Hòa Phát Iron and Steel Complex in Hòa Tâm Industrial Park and a Commercial - Service Area.

The investment progress of the project is 36 months after being granted the investment policy and handing over the land.

Particularly, the project for the Commercial - Service Area is implemented synchronously with the investment of Hòa Phát Iron and Steel Complex in Hòa Tâm Industrial Park and other secondary projects.

The total investment for four projects of Hòa Phát Group is estimated at about VNĐ120 trillion (US$5.1 billion).

Labour demand for steel factories is about 12,000 people; in which, local labour accounts for 80-90 per cent. The average income of employees is about VNĐ12 million per person per month.

The group wishes the province to update the proposals for these projects in the General Plan of Southern Phú Yên Economic Zone and the Planning of Phú Yên Province to facilitate implementation.

PETMAL Oil Holdings from Malaysia proposed to the province to build a modern refinery and petrochemical complex with a capacity of 8 million tonnes of crude oil per year.

Total project investment is expected to be about $5 billion. The land use area is 500ha and the water surface area is about 500ha.

During the operation phase, the petrochemical complex project will need about 1,200 direct workers and create indirect jobs for about 5,000 people and hundreds of product distribution services.

It is expected to contribute to the local budget about VNĐ20 trillion after the project is put into operation.

Bãi Gốc Port in South Phú Yên Economic Zone had many advantages, therefore, the province determined to attract investment, said Tạ Anh Tuấn, chairman of the provincial People's Committee.

The proposed projects were large-scale, so the implementation process would also be difficult from the time the investment licence was issued until the project was formed, he said.

Therefore, it needed co-ordination, high determination and a clear and unified view with investors to implement, said Tuấn.

The implementation process must be clear, transparent and in accordance with the provisions of law, he added.

The general view of the province is not to trade off the environment for economic development. For investors, it is also necessary to have a very clear commitment to the locality in terms of finance and implementation time; and avoid wasting resources and time. — VNS