Phu Yen forges new connections to reach investors

December 21, 2021 | 18:10
Tuy Hoa city is expected to become a shining hotspot for the economy of the south-central coastal region and create strong investment attraction thanks to its improved transport infrastructure.
Phu Yen forges new connections to reach investors
The province is gradually synchronising its traffic infrastructure system

Once a tiny town, Tuy Hoa has gradually become a young city full of energy, attracting high-end real estate investors. Visitors now find the presence of a chain of high-end projects, resorts, luxury restaurants, supermarkets, hotels, and office buildings equipped with unique architectural designs and a harmonious combination of classic and modern features.

Along with Nha Trang in Khanh Hoa province and Quy Nhon in Binh Dinh province, Tuy Hoa city has grown enormously with a series of key infrastructure projects to become a new magnet for attracting investment. Multi-purpose projects with excellent locations on Hung Vuong street show the long-term vision of local authorities as well as market understanding and sophistication of the investors.

“That change is not a coincidence. It is a process of conception, effort, and concentration of investment resources with a strategy of selecting objects to invest through many leadership terms,” said Tran Huu The, Chairman of Phu Yen People’s Committee.

Determining infrastructure development is the only breakthrough to push the growth of other fields, a series of arterial streets were funded, creating the backbone for the plan to develop Tuy Hoa towards the sea, such as Hung Vuong, Le Duan, Doc Lap, and Tran Phu streets.

Stretching from the south of Hung Vuong Bridge to Vung Ro Port with an area of nearly 21,000 hectares, South Tuy Hoa Economic Zone possesses an extensive land bank, favourable geographical location, and flat terrain along with significant advantages in marine resources.

The Ministry of Transport (MoT) has recently agreed with Phu Yen province to sponsor expenses for setting up the Tuy Hoa Airport development plan. The MoT has studied the investment plan for road traffic, divided into many sections of the expressway and connecting Tuy Hoa Airport with the North Van Phong area, to be built in the coming time.

The section passing through Phu Yen and Khanh Hoa has two component projects: the Chi Thanh-Van Phong section (51km) and the Van Phong-Nha Trang section (83km). The MoT has completed the internal appraisal and submitted it to the prime minister as a basis for submitting it to the National Assembly for approval and preparing of investment policies for implementation.

Along with that, the MoT is setting up a national sector plan, in which the prime minister has approved the road network plan for the 2021-2030 period, with a vision towards 2050.

This plan is also oriented to develop and synchronise the traffic infrastructure system between Phu Yen and the Central Highlands and Khanh Hoa with Buon Ma Thuot in Dak Lak. Up to now, the expressway route in the Central Highlands region, including 220km from Phu Yen to Dak Lak and 105km from Buon Ma Thuot to Van Phong, has been updated in the development plan.

Phan Dinh Phung, former Deputy Chairman of Phu Yen People’s Committee shared, “Phu Yen’s tourism industry has been frozen for too long. One of the reasons is that it has been waiting for urban infrastructure and traffic to be completed. Now, Phu Yen has a full plan of infrastructure improvement and will be more attractive for developers.”

By Linh Dan

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional