Vân Phong to be developed into coastal EZ by 2025

April, 06/2021 - 15:34
The central coastal province of Khánh Hòa plans to develop the Vân Phong Economic Zone (EZ) into a coastal EZ that focuses on multi-sector development, turning it into an economic driving force of the province and the south-central region. 

 

Work is underway on Vân Phong I Coal-fired Power Plant in the Vân Phong EZ.  — VNA/VNS Photo Thanh Vân

KHÁNH HOÀ - The central coastal province of Khánh Hòa plans to develop the Vân Phong Economic Zone (EZ) into a coastal EZ that focuses on multi-sector development, turning it into an economic driving force of the province and the south-central region. 

According to an action programme on the development of the Vân Phong EZ for 2021-25, the economic zone is expected to draw VNĐ150 trillion (US$6.5 billion) in investment, disburse at least VNĐ75 trillion and contribute about 30-40 per cent to the local State budget.

Its industrial – construction value is hoped to account for nearly 40 per cent of the province’s gross regional domestic product (GRDP) while about 10,000 jobs are set to be generated.

The province will focus on adjusting the master plan on the Vân Phong EZ, effectively performing policies on investment promotion and investor support, pooling capital for key infrastructure in service of its functional areas, reforming administrative procedures, protecting the environment, and ensuring national defence. — VNS

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