Van Phong Economic Zone expects to attract billion-dollar projects

By 2024, Van Phong Economic Zone expects to attract 27 large-scale projects, and by 2025, the province is planning to lure an additional large-scale 10 projects.

Notably, foreign investors are called to develop the Dam Mon financial and shopping mall with the total investment capital of VND15 trillion ($652.17 million).

Besides this, they are encouraged to invest in resort and hotel complexes together with golf courses with an investment capital from VND25 trillion ($1.08 billion). Some projects waiting for capital are the Hon Lon high-end complex worth VND99 trillion ($4.3 billion) and the two parts of the Co Ma-Tu Bong multifunction complex with an investment capital of VND90 trillion ($3.91 billion) each.

The province has plans to call investment capital in the Nam Van Phong oil refinery (worth $4.34 billion) and the Nam Van Phong 1 and 2 petrochemical complexes (worth $2.6 billion each).

Other projects are in the processing industry, high-tech manufacturing, precision mechanics, oil and gas processing, electronics, and healthcare services.

Moreover, the economic zone (EZ) wants to attract investment into an international tourist seaport worth VND3 trillion ($130.43 million) and the Nam Van Phong seaport complex worth VND45 trillion ($1.95 billion).

The Van Phong EZ is designed to have 19 functional subdivisions, 13 of which will cover Van Ninh district, and six in Ninh Hoa township.

At present, the EZ is the production hub of 155 projects with a total registered capital of $4.1 billion. There are 30 foreign-invested enterpries.