The first project, developed by Hoa Phat Group, involves building infrastructure for the Hoa Tam Industrial Park. The first phase will cover nearly 492 hectares and is estimated to cost approximately 4.2 trillion VND (161 million USD).

It will support the development of an iron and steel complex worth 100 trillion VND (3.8 billion USD), with an annual production capacity of 6 million tonnes and the potential to create 24,000 jobs.

The second project focuses on developing infrastructure for the Phu Yen High-tech Park, which spans 251.6 hectares, with an estimated investment of 2.4 trillion VND (92 million USD).

The park aims to attract projects in high-tech industries such as pharmaceuticals and biotechnology, environmental and renewable energy, electronics, automotive technology, robotics and automation, artificial intelligence, nanotechnology and advanced materials, and logistics.

Once operational, these projects are expected to boost the province’s industrial output, increase local budget revenue, and generate employment opportunities for residents.

Phu Yen Vice Chairman Le Tan Ho stated that these are key projects that will open up new opportunities for the province to attract large-scale investments to the Phu Yen Southern Economic Zone.

He added that the provincial authorities are committed to listening to enterprises and addressing any challenges they may face. He also expressed confidence that these projects will be completed promptly and will make significant contributions to the province’s socio-economic development.

Phu Yen Province has positioned sustainable industrial development as a key driver of economic growth and is actively working to streamline administrative procedures and improve the business environment.