UPGRADE FOR ECONOMIC ZONE

Under a recent decision issued by Prime Minister Nguyen Tan Dung to amend the zone's operational regulations, the basic industries that will be further developed include steel, shipbuilding and repair, electricity and construction material, as well as consumer goods and high-quality agro-forestry and fisheries export-processing industries.

The complex will help create jobs and promote training as well as improve the quality of local human resources. It will also gradually be developed into a high-quality regional human resources training centre.

Nghi Son, currently spanning more than 18,610ha, will be expanded to cover 106,000ha, including nearly 66,500ha of the mainland and island and more than 39,500ha of water bodies.

The mainland and island will comprise the entire Tinh Gia district, three communes of Nong Cong district and three communes of Nhu Thanh district.

As mentioned in the decision, additional efforts must be made till 2025 to improve the economic zone's (EZ) business climate, implement key socio-economic infrastructure projects and attract more domestic and foreign investors.

It is hoped the zone will see comprehensive development in industry and services, and commercial, financial, cultural-social and tourism sectors after 2025, while ensuring security and defence.

Green and modern urban areas will also be developed within the Nghi Son EZ.

The Nghi Son EZ, established in mid-2006, is about 200km to the south of the capital city of Ha Noi. It is now home to 134 projects, including 124 domestic projects, with a total registered investment of VND96.9 trillion (US$4.5 billion).

In 2014, the zone attracted 41 new domestic projects with a total registered capital of more than VND3.1 trillion (US$145.7 million), and three foreign-invested projects worth $40.5 million. That same year, it generated VND18 trillion ($846 million) in revenue and created jobs for about 63,000 people.

It also houses the Nghi Son seaport and the Nghi Son oil refinery and petrochemical complex, the largest of its kind in Southeast Asia and the largest foreign direct investment project in Viet Nam with a registered capital of more than $9 billion.

Source: VNS