In order to create momentum for socio-economic development, Phu Yen province has been recently focusing on promoting investment attraction into South Phu Yen Economic Zone and industrial parks in the area. With available potentials and advantages, along with strong improvements in infrastructure, investment environment and business support policies, the province's economic zones and industrial parks continue to be attractive destinations, attracting domestic and foreign investors, especially large-scale, high-tech, environmentally friendly projects.

Mrs. Cao Thi Hoa An, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council; Mr. Ta Anh Tuan, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee informing the Head of the Central Internal Affairs Commission, Mr. Phan Dinh Trac about the investment and development of South Phu Yen Economic Zone

Attracting key projects

According to Phu Yen Economic Zone Management Board, South Phu Yen Economic Zone has an area of20,730 hectares; of which 8 industrial parks have been planned with a total area of 3,206 hectares (according to the plan, the province has had 11 industrial parks, with a scale of 3,462 hectares). The South Phu Yen Economic Zone has an industrial belt in the West,the belt of tourism , services, coastal urban areas in the East and green corridors along Ba river and Ban Thach river. The South Phu Yen Economic Zone will form three main development centers: Urban and airport logistics center, Hoa Vinh urban center, coastal commercial urban center. The area is also divided into 6 functional sub-zones, focusing on urban development orientation, eco-tourism, mixed coastal tourism services, industrial development, high-tech industry, services, etc. ensuring effective and sustainable development of society-economy and local environment in the future. So far, the province has had 5 industrial parks with an area of 431.5 hectares in operation, with an average occupancy rate of 80.1%. Technical infrastructure in the industrial parks has been basically completed, operated stably, meeting the needs of investors in using technical infrastructure networks.

Regarding the orientation of attracting investment projects into South Phu Yen Economic Zone, the province has been focusing on developing advantageous industries and creating a foundation for long-term development, attracting investment, developing high-tech industries, industries associated with promoting the advantages of seaports, important, dynamic and breakthrough industries such as petrochemical refining, metallurgy, energy, etc. into Hoa Tam Industrial Park and Bai Goc Port, which is the driving force and main breakthrough to promote Phu Yen's economic development, shift the economic structure and contribute to creating a sustainable source of budget revenue.

According to Mr. Phan Ngoc Thanh, Deputy Head of Phu Yen Economic Zone Management Board, the unit identifies the work of promoting and attracting investment into South Phu Yen Economic Zone as a key task, to be constantly focused on. The Management Board has developed and submitted to the Provincial People's Committee for approval a list of projects calling for investment intoSouth Phu Yen Economic Zone for the period of 2024-2030 to facilitate investors and businesses to access project information and learn about investment.

In the past, Phu Yen Economic Zone Management Board advised the Provincial People's Committee to receive and work with many large corporations and investors such as: Hoa Phat, Becamex, TH, N&G, Ecopark, Vinanconex, Sumitomo Corporation (Japan), SK (Korea), Kanoria (India), etc. to attract investment in key projects in South Phu Yen Economic Zone such as: Hoa Tam Industrial Park Infrastructure Project, Bai Goc Port Project, Iron and Steel Complex Project, Petrochemical Complex Project; Industrial Park Infrastructure Investment Projects; or urban areas, services, coastal and riverside eco-tourism, Vung Ro - Hon Nua Bay Tourism Service Complex, Bien Ho - Da Bia Tourist Area, etc. In addition, the Management Board also focuses on attracting and calling for projects: LNG warehouse, Data center and onshore marine telecommunication cable connection facility (DATA CENTER), Logistics Center associated with dry port (IDC), etc.

Proposal to expand the scale

According to Mr. Phan Ngoc Thanh, currently, Nam Phu Yen Economic Zone and industrial parks have attracted 120 investment projects with a registered land area of 371.2 hectares. Of which, 104 projects have domestic investment capital with a registered investment capital of VND 7,739 billion and 16 projects have foreign investment capital with a registered investment capital of USD 44.2 million. In addition, South Phu Yen Economic Zone has been studied and proposed projects by major investors. For example, Hoa Phat Group proposed to invest into 3 projects including: Hoa Tam Industrial Park Infrastructure Project - Phase 1 with an area of491.87 hectares, total investment capital of about VND 4,381 billion; Bai Goc Port Project with an area of about 400 hectares, total investment capital of about VND 24,000 billion; The steel complex project in Hoa Tam Industrial Park with a total investment of about VND 86,000 billion. N&G Group also proposed to invest into the High-tech Industrial Park Infrastructure Project with an area of about 251.6 hectares, with a total estimated investment of about VND 2,548 billion. And the Becamex - VSIP Joint Venture studied and proposed to invest into the Becamex Vsip Phu Yen Industrial Park - Urban - Service Project with an estimated area of 1,920 hectares (including industrial parks of about 1,400 hectares, urban - service areas of about 520 hectares).

Recently, accompanying Mr. Phan Dinh Trac, Politburo member, Secretary of the Party Central Committee, Head of the Central Internal Affairs Commission and the central working delegation to survey the South Phu Yen Economic Zone, the construction area of Hoa Tam Industrial Park and Bai Goc Port (Dong Hoa town), Mr. Ta Anh Tuan, Deputy Secretary of the Provincial Party Committee, PPC Chairman said: According to the Resolution of the 17th Provincial Party Congress, term 2020-2025, the investment and development of Bai Goc Port and Hoa Tam Industrial Park is the core of the South Phu Yen Economic Zone, playing a very important role in socio-economic development, especially the development of the marine economy. It is the province's advantage in strengthening the connection between regions and localities in the development process, especially between South Phu Yen - North Khanh Hoa and Phu Yen - Central Highlands, to promote investment attraction.

After a field survey, Head of the Central Internal Affairs Committee, Mr. Phan Dinh Trac acknowledged the importance of South Phu Yen Economic Zone, affirming that this will be one of the important industrial and seaport centers of the South Central Coast and Central Highlands, combined with Van Phong Economic Zone to form the South Phu Yen - North Khanh Hoa economic zone with a large scale, high attractiveness, and will be the driving force to attract investment into the province in the coming time. Mr. Phan Dinh Trac requested that in the process of implementing investment into constructing Bai Goc port, the province must calculate the effective capacity of use, and should choose the latest and safest technologies for the environment. Infrastructure in the area must be synchronously connected from the transportation system, telecommunications, wastewater treatment, etc., thereby creating an ecosystem that develops from industry to logistics at low cost. In addition, the province needs to calculate the labor demand in the industrial parks in South Phu Yen Economic Zone to plan and build social housing areas for workers; developing urban infrastructure in surrounding areas, etc.