Van Phong Bay Economic Zone Plan Approved by Prime Minister

Strategic Insights -

Vietnam's Prime Minister Phan Van Khai has approved a plan for the Van Phong Bay economic zone in Khanh Hoa province, which aims to develop tourism, services, industry, aquaculture, and other economic sectors. Covering an area of approximately 150,000 hectares, the zone will have an international container terminal and will prioritize projects such as a 0.5 million TEU international container terminal, road development, and power infrastructure. The decision replaces a previous Prime Minister's decision from 2002 and has defined development orientations for the zone's technical infrastructure, space organization, urban landscape, and architectural plan.

Key Takeaways:

  • The Van Phong Bay economic zone will cover an area of approximately 150,000 hectares in Khanh Hoa province.
  • The zone will have an international container terminal and will prioritize projects such as a 0.5 million TEU international container terminal.
  • The decision has defined development orientations for the zone's technical infrastructure, space organization, urban landscape, and architectural plan.
  • Priority projects include a 0.5 million TEU international container terminal, road development, a 110kV power station, and a 0.5 million tonne petrol base depot.
  • Projects on the development of services, post and telecommunications, trade, tourism, afforestation, and mangrove forests will also be carried out.
  • The Dung Quat Industrial Zone in Quang Ngai province will be transformed into an economic zone with a total area of 10,300 hectares.
  • The Dung Quat EZ will enjoy preferential treatment, including permission to license projects with investment of up to $40 million.
  • The Dung Quat EZ will be handed over to the Quang Ngai People's Committee when the Oil Refinery No. 1 goes into operation.

Statistics:

  • The Van Phong Bay economic zone will occupy an area of approximately 150,000 hectares.
  • The international container terminal will have a capacity of 0.5 million TEU.
  • The 110kV power station will be built in Dam Mon.
  • The 0.5 million tonne petrol base depot will be constructed.
  • The Dung Quat EZ will have a total area of 10,300 hectares.
  • The maximum investment allowed for projects in the Dung Quat EZ is $40 million.

Sources:

  • Vietnam News Agency (VNA)
  • [Decision 49/2005/QDTTg, dated March 11, 2005]
  • [Prime Minister's decision No. 301/QD-TTg, dated April 22, 2002]