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When the 1,000 billion VND road is completed, Khanh Hoa will invest an additional 3,000 billion VND in coastal roads for Van Phong Economic Zone.

2903-2023

When the 1,000 billion VND road is completed, Khanh Hoa will invest an additional 3,000 billion VND in coastal roads for Van Phong Economic Zone.

The National Highway 1 project connecting Dam Mon costing 1,000 billion VND has just been completed. Van Phong Economic Zone is interested in investing in transport infrastructure in Khanh Hoa province. A typical example is the 40km coastal road project with a budget of up to 3,000 billion VND.

The newly inaugurated route connecting Highway 1 to Dam Mon has a total length of 14.3km, total width of 34m, and a total lanes of 6. The project started in 2016 and was completed after 7 years of implementation with a budget of 1,000 billion VND.

In the coming time, the project will strengthen its connection to Van Phong economic zone, thereby attracting investment in large projects. After the above project, the economic zone continues to invest in a 40 km long transportation system, with a total capital of 3,000 billion VND.

Van Phong economic zone is one of three key economic regions of Khanh Hoa. This place has favorable conditions and great potential for multi-sector economic development, and to become the country's marine economic center.

Recently, the People's Committee of Khanh Hoa province sent the Prime Minister to approve the adjustment of the general planning for the construction of Van Phong Economic Zone (EZ) until 2040, with a vision to 2050. The locality intends to become Van Phong Economic Zone The smart urban sector develops sustainably with a developed socio-economic infrastructure system; an important position in national security and defense.

According to planning, Van Phong Economic Zone is a multi-sector and multi-sector integrated economic zone. Its role is to attract investment and be a driving force for economic development for neighboring regions and the whole country. The marine economy is the foundation of international container transshipment port and logistics services, urban, service, tourism, and industrial. All of them play an important role, combined with the development of other economic sectors. This is also a high-end integrated tourism and entertainment service center that includes unique, different, modern, high-quality, branded tourism, service products, and international competitiveness.

In 2023, the Van Phong Economic Zone Management Board aims to attract new investment with a total registered capital of about 30,000 billion VND. In addition to new projects that need to be implemented, mobilized capital will also be supplemented for large projects such as BOT Van Phong 1 thermal power station; Ninh Thuy Industrial Park; Hon Ngang tourist area - Cat Tham beach; Doc Let Phuong Mai tourist area; Doc Da Trang Industrial Park, Nam Cam Ranh Industrial Park…

In February 2023, the Management Board of Van Phong Economic Zone worked with a series of corporations and companies that were interested in proposing to invest in projects in Van Phong Economic Zone. This is a preparation step for the province's 2023 investment promotion conference which will take place in early April.

Up to now, there are 13 potential investors who want to invest in Van Phong. Promising investment areas include Petrochemical refining, energy, industry, industrial park construction, and seaport construction. In the Bac Van Phong area, there are 5 corporations and companies that want to invest in the fields of services, tourism, airports, seaports, and urban areas.

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