Economic zone lined up to play part as investment magnet for Khanh Hoa

Revision of the overall plan for building Van Phong Economic Zone (EZ) in Khanh Hoa province to 2040 has been approved. Khanh Hoa People’s Committee said that the vision and plan to 2050 would transform the EZ into a dynamic, intelligent, and sustainable economic hub, tying together socioeconomic growth and national defence and security.

Economic zone lined up to play part as investment magnet for Khanh Hoa

According to the decision, by 2030 there will be almost 15,000 hectares of land available for the building of functional areas. Land for urban residential development is approximately 3,100ha; land for mixed residential development service is around 950ha; rural residential development is about 2,660ha; and land for construction of other functional areas is as much as 8,150ha.

By 2040, there will be about 22,000ha of land that can be used to build functional areas.

According to Khanh Hoa People’s Committee, the maritime economy is the cornerstone, with an international container transshipment port and logistical services. In North and South Van Phong, about 960ha is designated for port development and logistics, while in Ninh Phuoc, 445ha is designated.

The committee also stated that the development space of functional areas in Van Phong EZ is geared towards tourist services with a variety of high-class ecotourism, entertainment and relaxation services, golf course and casino, theme park, and even an international yacht exhibition combined with sightseeing activities. In addition, the space required to construct an airport at Van Thang is around 500ha, urban residential development areas will take up about 5,400ha, and the Bac Van Phong wharf area may develop an international passenger port capable of receiving 225,000 GT passenger ships in the Dam Mon area.

Before 2030, the Nam Van Phong wharf area will directly serve Van Phong EZ and forward liquid/gas and bulk cargo. After 2030, sufficient land will be set aside for the development of international transshipment ports.

Nguyen Hai Ninh, Secretary of Khanh Hoa Party Committee, in February requested that the Management Board of the EZ coordinate closely with other departments and sectors to expedite the settlement of work and be prepared to welcome and provide full support to investors.

Meanwhile, Ninh requested that Khanh Hoa People’s Committee consider providing funds to develop resettlement sites for industrial functional zones in Van Phong EZ. Localities must encourage site clearing for significant construction projects.

Van Phong EZ encompasses around 150,000ha, consisting of 80,000ha of ocean surface and 70,000ha of land and islands.

Van Phong Bay is situated near international shipping routes, and offers strong circumstances for growing the marine economy and constructing an international transshipment port. Presently, North and South Van Phong are operational, which contributes to the facilitation of sea freight transportation of projects in the economic zone, the Central Highlands, and nearby regions, as necessary.

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