Located on Vietnam’s east coast and close to international shipping lanes, the Van Phong economic zone is ideally suited for becoming a deepwater port, a container transit port and an international oil transit port.
The Van Phong bay stretches out to 150,000 ha, including 70,000 ha of land and 80,000 ha of water at a depth of between 20-40 metres. It is also convenient for all kinds of transport services including road, rail, air and sea.
The area is blessed by nature and has a rich ecological diversity, beautiful views, a temperate climate and is the ideal location for a maritime economic complex.
The four year-old economic zone has so far attracted 86 investment projects, with a total capital of over 15.2 billion USD, of which foreign investors make up 28 percent of the projects and over 87 percent of the investment.
Despite the global economic crisis, since late 2009 Van Phong has managed to keep its major projects on schedule while ensuring the quality of the projects such as the Ninh Thuy nix treatment plan, the Van Phong bonded petroleum warehouse and the Ninh Thuy cement distribution centre that has an annual output of 500,000 tonnes.
The Van Phong international transit port, a key infrastructure project with an investment of over 6.1 trillion VND (323.3 million USD), is well on its way to completion.
In addition, several other projects are taking steps to get their investments licensed such as the Van Phong thermal electricity project capitalised at 3.8 billion USD by the Sumitomo Group and the Van Phong oil refinery with an investment of 4.8 billion USD by the Petrolimex Group in a joint venture with foreign partners.
Hoang Dinh Phi, the Deputy Head of the Van Phong Economic Zone Management Board, said that the Prime Minister has allowed the economic zone to offer more incentives for investors in the years to come, especially those who are interested in developing the local infrastructure./.
The management board estimates that the economic zone will need 15 trillion VND from now until 2015 to develop its infrastructure including electricity and water supplies, traffic systems and resettle local residents.
In 2006, the Prime Minister decided that the Van Phong Economic Zone should be developed into a multi-industrial and multi-service economic complex, focusing on industry, tourism, services and aquaculture. Its population is expected to hit 400,000 by 2020, including 275,000 in urban areas
The Van Phong bay stretches out to 150,000 ha, including 70,000 ha of land and 80,000 ha of water at a depth of between 20-40 metres. It is also convenient for all kinds of transport services including road, rail, air and sea.
The area is blessed by nature and has a rich ecological diversity, beautiful views, a temperate climate and is the ideal location for a maritime economic complex.
The four year-old economic zone has so far attracted 86 investment projects, with a total capital of over 15.2 billion USD, of which foreign investors make up 28 percent of the projects and over 87 percent of the investment.
Despite the global economic crisis, since late 2009 Van Phong has managed to keep its major projects on schedule while ensuring the quality of the projects such as the Ninh Thuy nix treatment plan, the Van Phong bonded petroleum warehouse and the Ninh Thuy cement distribution centre that has an annual output of 500,000 tonnes.
The Van Phong international transit port, a key infrastructure project with an investment of over 6.1 trillion VND (323.3 million USD), is well on its way to completion.
In addition, several other projects are taking steps to get their investments licensed such as the Van Phong thermal electricity project capitalised at 3.8 billion USD by the Sumitomo Group and the Van Phong oil refinery with an investment of 4.8 billion USD by the Petrolimex Group in a joint venture with foreign partners.
Hoang Dinh Phi, the Deputy Head of the Van Phong Economic Zone Management Board, said that the Prime Minister has allowed the economic zone to offer more incentives for investors in the years to come, especially those who are interested in developing the local infrastructure./.
The management board estimates that the economic zone will need 15 trillion VND from now until 2015 to develop its infrastructure including electricity and water supplies, traffic systems and resettle local residents.
In 2006, the Prime Minister decided that the Van Phong Economic Zone should be developed into a multi-industrial and multi-service economic complex, focusing on industry, tourism, services and aquaculture. Its population is expected to hit 400,000 by 2020, including 275,000 in urban areas
