South Phu Yen Economic Zone lures in 115 projects worth $9.55 billion

South Phu Yen Economic Zone has lured in 115 projects worth $9.55 billion so far

According to Phu Yen Economic Zones Management Authority, the COVID-19 pandemic has impacted the operations and trading activities of enterprises in the economic zone (EZ).

This year, the export turnover of companies operating in the EZ reached $135 million. They generated 8,655 jobs with the monthly average income of VND4.7 million ($200) and paid VND140 billion ($6 million) into the state budget.

In order to improve investment activities, the management authority will continue to promoting technical infrastructure, supporting investors to implement their projects. Besides, the authority will accelerate to complete the planning of South Phu Yen EZ in 2020-2025 to create a more favourable investment environment for enterprises.

Speaking at the summary ceremony to review the operation of enterprises in the EZ, Le Thanh Dong, vice chairman of South Phu Yen EZ lauded the efforts of the management authority and enterprises to achieve positive business results in spite of the pandemic.

In October, Phu Yen People’s Committee issued a decision to approve the 1/2,000 scale construction planning of the coastal service urban area in South Phu Yen EZ. Covering a total area of 284.3 hectares, the area is expected to house a population of 19,890 people.

The decision assigns Phu Yen Economic Zones Management Authority to be in charge of the planning. The move is part of the efforts to realise the 1/10,000 scale general planning of the construction of South Phu Yen EZ by 2025, which has been approved by the prime minister.

The project will combine an urban service area and a green area of coastal plants, in line with the general planning of the EZ. The project aims to maximise the efficiency of land use in the planned area.