VGP - The Ministry of Investment and Planning (MIP) has selected five out of 15 coastal economic zones nationwide to receive priority investment over the next three years.
The beneficiaries include Chu Lai-Dung Quat in the central provinces of Quang Nam and Quang Ngai, Dinh Vu-Cat Hai in the northern port city of Hai Phong , Nghi Son in the central province of Thanh Hoa, Vung Ang in the central province of Ha Tinh, and Phu Quoc Island – An Nam Thoi Islands in the southern province of Kien Giang.
Intensive investment in the five zones is expected to help them work to their advantages and create a driving force for growth in neighbouring regions and the national economy in general.
The five zones will be allocated 65% of the VND2.6 trillion (US$124 million) funded by the State for coastal economic zones.
The MIP has been reviewing and evaluating the performance of the 15 zones with a set of five criteria, including their strategic location in regional economic development, seaport facilities, airports, major projects, and their ability to attract investment.
Local resources including budgets and competitive advantages should also be brought into play so that economic zones in disadvantaged areas are given a chance to add to the local economy.
Since the first coastal economic zone – Chu Lai – was established in 2003, the country has opened 14 more covering a total area of over 662,000ha, and attracted over 31 billion USD in FDI and nearly VND 564 trillion (US$27 billion) in domestic investment. Over the past ten years, Vietnam has invested about VND 11 trillion (US$524 million) in developing infrastructure in economic zones./.
By Khanh Phuong