Van Don economic zone management board established hinh anh 1A view of Cai Rong Port in Van Don Economic Zone (Source: VNA)

Hanoi (VNA) - The government has decided to establish a management board for Van Don Economic Zone in the northeastern coastal province of Quang Ninh.

Under its plan for the socio-economic development of Van Don, the economic zone will be transformed into a smart, modern and green coastal urban area, as well as the region’s economic and cultural hub

The Van Don Economic Zone needs some 171.5 trillion VND (7.4 billion USD) by 2030 for its investment demands, of which domestic investment accounts for 75.1 trillion VND and foreign investment 96.4 trillion VND.

The population is set to grow to 140,000 from the current 52,000, with 89,000 new jobs created. The average population growth rate from now to 2020, 2021-2025 and 2026-2030 is expected at 6 percent, 11 percent and 8 percent, respectively.

By 2050, Van Don would be one of Vietnam’s major economic driving forces.

The Van Don Economic Zone was established under Decision No 120/2007/QĐ-TTg dated July 26, 2007 signed by the Prime Minister. The zone is based on an area of 2,, including of land and 1, of water area./.