Want to be in the loop?
subscribe to
our notification
Business News
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
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.