Despite incentives to promote the development of Khánh Hoà Province, where the Vân Phong Economic Zone is located, the area has not been able to attract enough strategic investors.
The central coastal province of Khanh Hoa plans to develop the Van Phong Economic Zone (EZ) into a coastal EZ that focuses on multi-sector development, turning it into an economic driving force of the province and the south-central region.
Many foreign and domestic companies have been keen on building multibillion-dollar liquefied natural gas power and storage plants in the central province of Khanh Hoa.
Japanese firm J-Power is taking necessary steps to invest almost US$3.2 billion into the Van Phong Combined Cycle Gas Turbine (CCGT) Power Plant project in Van Phong Economic Zone in the south-central province of Khanh Hoa.
Hoang Dinh Phi, head of the Van Phong Economic Zone Management Board, spoke to Vietnam News Agency about the mechanisms and policies that have been put in place to attract high-tech investment projects.
The central coastal province of Khanh Hoa has seen considerable development in recent times, which is partly attributable to its three sea bays – Nha Trang, Cam Ranh and Van Phong.