Van Phong Economic Zone Lures US$13.4Bln Investment
The Van Phong economic zone in central coastal Khanh Hoa province has so far attracted US$13.4B from 52 investment projects, including 13 valid foreign-invested projects, since its establishment last year, Vietnam News Agency reported.
The average investment capital of each project is now US$560M, 13 times higher against the previous level of US$43M.
The zone’s management board is boosting the site clearance work to improve infrastructure to attract foreign investors in 2008.
Several giant foreign investors namely STX and Posco from South Korea, Japan’s Sumitomo, and Singaporean Temasek Holdings, are seeking investment opportunities in the zone.
The zone is aimed to attract around 50 projects worth VND32 trillion-VND40 trillion (US$2.5 billion) in investment capital from now to 2010, with around VND16 trillion expected to be disbursed in the time, according to a plant recently issued by the provincial People’s Committee.
Khanh Hoa province has announced a plan to build five seaports from now until 2010 to support its economy.
The five seaports include Van Phong International Container Transshipment Terminal, My Giang petroleum port (in Van Ninh District), Hon Khoi Port (Ninh Hoa District), Nha Trang Port (Nha Trang City) and Ba Ngoi Port (Cam Ranh town). (VNA)
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