The southern central province of Binh Dinh is working hard to turn its 134km-long coastline advantage and the 12,000ha Nhon Hoi Economic Zone into powerful forces for local socio-economic development.

Binh Dinh has devised plans of upgrading and building seaports to 2020 with a vision to 2050. Accordingly, Quy Nhon port will be expanded to be able to handle 10 million tonnes of cargo by 2020 while Thi Nai, another major port, has been improved to deal with some 1 million tonnes of goods by the year.

At the same time, large funding will go to promoting fishery logistics services at De Gi fishing port and turning Tam Quan fishing port into a tuna auction centre.

To favour the Nhon Hoi Economic Zone’s operation, the province is building the deep-water seaport of Nhon Hoi which will be able to handle 9.5 million tonnes of cargo a year.

Besides strong moves to utilise the advantage of seaports, local authorities also pin hopes on a petrochemical and oil refinery project in the zone since the central key economic region of Vietnam is awaiting a breakthrough for its development.

Chairman of the provincial People’s Committee Ho Quoc Dung said the Government recently added the project, named Victory, to the planning for the oil and gas sector to 2015 with a view to 2025.

The project is expected to help ensure the national energy security, contribute 4-5 billion USD (or 3-4 percent) to the national GDP, and fuel relating industries. It will also provide jobs for 35,000 local people.

The 22 billion USD plant, scheduled to be built from 2017, will turn out 12 million tonnes of products a year when operational from 2021 onwards. It will be invested by the Petroleum Authority of Thailand (PTT) with its strategic Saudi Arabian partner Saudi Aramco, and other foreign and Vietnamese companies.

Binh Dinh, along with Da Nang city and the provinces of Thua Thien-Hue, Quang Nam, and Quang Ngai, forms the central key economic region.-VNA