Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BCHUSD, Bitcoin and Cryptocurrencies

BUY & SELL BCHUSD | View BCHUSD News & Updates

Buy Sell BCHUSD, Bitcoin and Cryptocurrencies

Economic zones boost central region   2010-06-16 - Viet Nam News

The rapid development of economic zones (EZs) in the central provinces is significantly contributing to the regional economy.

By early June, Dung Quat EZ in Quang Ngai Province had attracted 167 investment projects with a combined registered capital of US$10.7 billion.

Deputy head of the EZ management board Le Van Dung said 51 projects were now operational, employing about 12,000 workers.

The zone’s development has increased the contribution made by the industrial sector to the province’s GDP, he added. From 2006-2008, the zone accounted for half of the local budget.

From now until 2020, businesses and investors operating in the EZ will employ approximately 67,600 workers, Dung said.

Of that number, FDI projects will employ an estimated 11,200 workers (17 per cent of the total); while domestic investment projects in oil refining, shipbuilding, seaports, will employ about 13,000 workers.

Meanwhile, Ho Sy Nguyen, head of Chan May - Lang Co EZ management board, said licences had been granted to 33 projects with a combined registered capital of VND31 trillion (over US$1.6 billion).

Of the total, 10 are foreign-invested, worth $1.4 billion, and accounting for 70 per cent of the total FDI registered in Thua Thien - Hue Province.

In the period of 2010-2015, the province plans to give top priority to improving the zone’s infrastructure while speeding up the implementation of key projects such as the Chan May seaport and the Chan May new urban area, Nguyen said.

Meanwhile, the Chu Lai EZ in Quang Nam Province, which was established by the Government in 2003, is also planning to improve its infrastructure to attract more investment, according to the zone’s management board.

Recently, the board licensed three new projects, valued at VND615 billion ($32.3 million). There are now eight licensed projects in the zone, capitalised at $274 million.

Meanwhile, plans to turn Chu Lai into the region’s biggest goods transit airport by 2015 is expected to spur the EZ’s development.

Not wanting to lag behind, the Nhon Hoi EZ, which was established in June 2005, now has a non-tariff area, industrial parks, a sea port and port services, a tourism area and a new residential area, all operating under a special incentive scheme.

To date, the EZ had attracted 58 projects, capitalised at $3.3 billion. Of those, 19, worth $951 million, have been licensed, Man Ngoc Ly from the EZ authority, said.

Khang Thong Trade and Construction Co announced that it would soon start construction of a $224 million non-tariff complex in the zone. The 600ha complex will comprise a non-tariff area, an industrial zone and a deep sea port.

Other news

BUSINESS IN BRIEF 16/6   2010-06-16

Five ports named for imported cars   2010-06-16

Banks face tighter listing rules   2010-06-16

Cargill says will help boost sales of tra fish stateside   2010-06-16

HCM City prefers multinationals for Thu Thiem development   2010-06-16

Decree rolls out online business registration   2010-06-16

Concerns arise as FDI in garment industry increases   2010-06-16

Business sentiment runs high in Vietnam   2010-06-15

Vietnam may reduce allowed level of foreign ownership of airlines   2010-06-15

BUSINESS IN BRIEF 15/6   2010-06-15

Labor shortage slows garment exports   2010-06-15

Investors told to buy shares right now   2010-06-15

Car imports unexpectedly soar   2010-06-15

Fertilizer uncontrolled, counterfeiting rampant   2010-06-15