Investments to be injected into key coastal economic zones

Hanoi (VNA) - Eight groups of key coastal economic zones nationwide will receive investments sourced from the State coffer for further development during 2016-2020 under the Prime Minister’s recent approval.

They include Chu Lai and Dung Quat in the central provinces of Quang Nam and Quang Ngai; Dinh Vu-Cat Hai in the northern port city of Hai Phong; Nghi Son in central Thanh Hoa province; Phu Quoc in southern Kien Giang province; Vung Ang in central Ha Tinh province; South Phu Yen in central Phu Yen province; Van Don in northern Quang Ninh province; and Dinh An in southern Tra Vinh province.

Accordingly, the beneficiaries will receive 70 percent of yearly investments for coastal economic zones in the next five years.

During 2016-2017, priorities will be given to important technical and social infrastructure of the economic zones in a bid to meet requirements of major projects.

Meanwhile, South Phu Yen, Van Don and Dinh An economic zones will be the focus on the next three years.

The Prime Minister assigned the Ministry of Planning and Investment to coordinate with the Ministry of Finance to devise the capital allocation plan and build the capital mobilisation mechanism.

The ministry was also tasked with inspecting the implementation of the plan and reporting bottlenecks hindering the work to the Prime Minister.

The Prime Minister asked municipal and provincial People’s Committees, and management boards of the economic zones to use the budget in line with regulations and ensure the disbursement process.

The localities were urged to take an active part in allocating their own budget and mobilising investments from other legal sources to develop infrastructure in the coastal economic zones.-VNA