Deputy PM Truong Hoa Binh works with Khanh Hoa

Saturday, 2017-03-11 17:37:20
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At the working session (Photo: VNA)
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NDO - A Government delegation led by Deputy Prime Minister Truong Hoa Binh held a working session with leaders of the central province of Khanh Hoa to discuss the building of a special administrative-economic zone in the north of Van Phong Bay.

This is part of the implementation of Resolution No.103/NQ-CP on December 12, 2016 on the Government's unification of principle on building three special administrative-economic zones in Van Don (the northern province of Quang Ninh), Phu Quoc (the southern province of Kien Giang), and the north of Van Phong bay (Khanh Hoa).

Of which, the Van Phong Special Administrative-economic Zone is planned to be built in the northern area of the Van Phong Economic Zone, with an estimated area of 66,000 hectares. Under the direction of the Prime Minister, the People's Committees of Quang Ninh, Kien Giang and Khanh Hoa provinces shall coordinate with the Ministry of Planning and Investment and related ministries and agencies in finalising the projects on building special economic-administrative zones; and propose specific mechanisms and policies for each area.

Speaking at the session, Deputy PM Truong Hoa Binh emphasised that Khanh Hoa should continue to study and clarify the need of the state administrative organisation, and local administration to meet the management requirements to supplement specific mechanisms and policies to promote advantages and strength of the Van Phong Special Zone as directed by the Government.

Considering the geographical location and natural conditions, Van Phong bay has potential to develop into a general economic zone.

Established in 2006, Van Phong economic zone has scored several significant achievements, laying creating a strong driving force for the province.

As the country’s largest economic zone of up to 150,000ha, Van Phong economic zone is not only significant to Khanh Hoa, but also to the central region and the country.

The province also advocated building a special administrative-economic zone in the north of Van Phong bay. Though a new model, the project seems feasible and promising and has been submitted to the government for approval.

The zone has so far attracted more than 130 projects worth tens of billion US dollars, notably the US$4.3 billion Nam Van Phong oil refinery complex with a designed capacity of 10 million tonnes per year, and the US$2 billion Van Phong I thermal power plant with a capacity of 1,320MW, which have been approved by the government and will be launched soon.