Khanh Hoa to establish special administrative-economic unit
The People’s Council of the central province of Khanh Hoa adopted a resolution approving a project establishing Bac Van Phong (Northern Van Phong) special administrative-economic unit during its fifth session on December 7.
The fifth session of the People’s Council of the central province of Khanh Hoa (Source: VNA)Khanh Hoa (VNA) – The People’s Council of the central province of Khanh Hoa adopted a resolution approving a project establishing Bac Van Phong (Northern Van Phong) special administrative-economic unit during its fifth session on December 7.
The special unit will cover all the area and population of Van Ninh district, including about 111,000 ha of land and water surface and more than 128,000 people in 12 communes and one town.
Van Phong Bay and the Northern Van Phong area hold an important strategic, geological-economic location for the country and the region, able to become a gateway for Vietnam to reach the East Sea and the Indochina peninsula.
The area is also expected to help boost the nation’s maritime economy, the southern central region, the Central Highlands and Khanh Hoa province, and protect national sovereignty over seas and islands.
The special unit will focus on developing sea transportation, trade-financial services, tourism, health care, education and high-tech industrial development.
The People’s Council has assigned the provincial People’s Committee to complete a dossier for the project to be submitted to competent agencies.
Northern Van Phong is one of the three special administrative-economic units initially developed on the basis of the the Conclusion No 21-TB/TW issued on March 23, 2017 by the Politburo. The others are Van Don in the northeastern province of Quang Ninh and Phu Quoc in the Mekong Delta province of Kien Giang.
The Ministry of Planning and Investment expected that with preferential incentives, the three special zones would attract investment worth dozens of billions of dollars, which would generate huge sums in terms of added value and boost average income to 12,000-13,000 USD per capita.
The ministry estimated that the special zones would contribute billions of dollars in taxes and fees to the State budget.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Business
Dak Lak firm pioneers in following EUDR in coffee production
The Dak Lak September 2 Import-Export Company Limited (Simexco) has pioneered in building coffee growing areas following the EU Deforestation Regulation (EUDR), it announced on April 25.
Business
Dong Nai calls for Korean investment into green growth
The southern province Dong Nai introduced its investment projects and incentives to the Republic of Korea (RoK)’s firms at a workshop in Seoul on April 25.
Business
Vietnam ranks fifth among aquatic product suppliers for Singapore
Vietnam jumped one place to become the fifth largest exporter of aquatic products to Singapore for the first time in the first quarter of this year, according to its Trade Office in the city state.
Business
Forum seeks ways to boost exports amid external challenges
Experts gathered at a forum in Ho Chi Minh City on April 25 to seek ways to untangle knots in terms of capital and market for exporters in the context that the ongoing conflicts in many regions are disrupting international trade.
