The Ministry of Construction appraisal council has approved the expanded South Phu Yen EZ

In late September, the Ministry of Construction’s appraisal council approved the project to adjust the general planning of South Phu Yen EZ.

The appraisal council’s members gave feedback and asked the province to clarify information relating to the project's planning, investment direction, transport, infrastructure, environment, and national security.

Le Tan Ho, Standing Deputy Chairman of Phu Yen People’s Committee said, “When this planning adjustment project is approved, South Phu Yen EZ is expected to be a multi-sector high-tech marine economic zone, with a combination of industries such as seaports, eco-tourism, and urban commercial services promoted for growth at the same time.”

“The EZ associated and the exploitation of Tuy Hoa airport and seaport system is considered a lever for the socioeconomic development of the province,” he said.

South Phu Yen EZ was adjusted to be expanded to an area of ​​about 20,700ha. The EZ will be divided into six functional subdivisions. There are three subdivisions to serve urban development projects. Subdivision 5 is a concentrated industrial development area for developing high-tech and multi-industry industries.

It is forecast that the population in South Phu Yen EZ by 2040 will be nearly 300,000 people, and the demand for construction land will hit about 14,000ha.

In October 2009, the prime minister approved the general construction plan of South Phu Yen EZ with a total area of 20,730ha. In December 2019, the prime minister issued Decision No. 1799, approving the master plan for constructing the South Phu Yen EZ. The People's Committee of the province assigned Phu Yen EZ Management Authority to finalise the plan.

In November 2021, the province submitted the plan to the Ministry of Construction for appraisal. The EZ has attracted 53 projects with total registered capital of $230 million so far.