Located in the central province of Khanh Hoa, the Van Phong Economic Zone (EZ) has attracted a total of153 investment projects, of which 89 are fully operational.

Of these projects, 30 are operating through foreign investment, with registered capital amounting to roughly US$4.1 billion.

Most notably, the Van Phong electricity plant project is the biggest among them, with investment totaling US$2.58 billion and construction starting in October, 2020. The build-operate-transfer project looks set to create 2,000 jobs, in addition to accounting for 4% of the total electricity generated nationwide once the site is put into operation in 2023.

According to the management board of the Van Phong EZ, the area has contributed more than VND20.95 trillion VND, equivalent to US$906.56 million, to the provincial budget, creating over 6,200 jobs in the process.

Nguyen Khac Dinh, secretary of the provincial Party Committee, said investment projects in the EZ have helped to create employment, support local infrastructure building, and boosted people’s living standards. 

With the aim of turning the site into a strategic coastal EZ for the region and the nation as a whole, Khanh Hoa is focusing on infrastructure development by taking full advantage of all prioritised assistance given by the Government.

Due to this, the provincial People’s Committee is working closely alongside neighbouring localities which boast great potential, including Phu Yen and Dak Lak provinces, in order to devise a coherent regional connectivity strategy moving forward.