Vung Ang Economic Zone (EZ) in central Ha Tinh province will be developed into Vietnam’s key multipurpose economic zone by 2025 under a master plan recently approved by Prime Minister Nguyen Tan Dung.
The EZ will become a big destination for investors in the areas of metallurgy, port services, labor-intensive industries, and processing industries for export, according to the plan.
Vung Ang EZ, to be built on 22,800 ha in Ky Anh district, or 3.8 percent of Ha Tinh’s natural area, will house a 730 ha non-tariff area including the Son Duong seaport and a trade-service-industry area.
The zone has housed a port-industrial zone covering the Vung Ang port, a steel industrial complex, and a thermo-electric power plant.
A residential area will be also built in the zone for local residents, along with schools, a trade and financial services centre and healthcare, cultural and sport facilities.
Vung Ang EZ, 109 km from Vinh Airport and 400 km from both Hanoi and Danang, plays a key role in economic cooperation between central provinces and those in central Laos and northeast Thailand and Myanmar.
Vietnam now has eight EZs, mostly located in the central region including Chu Lai in Quang Nam province, Dung Quat in Quang Ngai, Nhon Hoi in Binh Dinh, Chan May-Lang Co in Thua Thien-Hue, Vung Ang in Ha Tinh, Nghi Son in Thanh Hoa, Van Phong in Khanh Hoa and only two in the southern region namely Phu Quoc Island and Nam An Thoi group of islands in Kien Giang province.
Dung Quat is the largest of all, attracting over US$5.4 billion in investment capital until now, local media reported.
These EZs are expected to pull in some US$11 billion worth of investment capital by the end of this year and early next year the Ministry of Planning and Investment said. (VNA)
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