The Nhon Hoi Economic Zone is gearing up for expanded industrialization as many projects get underway and the Thi Nai Bridge, the longest bridge in Vietnam to cross over saltwater, is now open to traffic. In the near future the Nhon Hoi Economic Zone on Phuong Mai Peninsula, which previously had no road connection to the mainland, will become an engine for socioeconomic development in Binh Dinh province and central Vietnam.
For quite a few years, most of the Phuong Mai Peninsula had treeless rocky hills and white sand dunes. Not even optimists believed that the peninsula could become an economic zone and a good investment destination. People there have made what was impossible, possible. After the Goverment decided to establish the Nhon Hoi Economic Zone, Binh Dinh provincial authorities began to simplify investment procedures and at the same time improve local infrastructure.
Roads in the area have been improved. These include the Nhon Hoi-Tam Quan coastal road, the Thi Nai Bridge and National Highway 19 that connects the Nhon Hoi Economic Zone with provinces in the central Vietnam, southern Laos, northeastern Cambodia and Thailand. Seven infrastructure projects that are expected to cost more than VND2.4 trillion got started in the zone in December 2006. Vu Hoang Ha, a member of the Central Party Commitee and the chairman of the Binh Dinh Province People's Commitee, said that between now and 2010 electricity, water supply, drainage, telecommunications, and roads will be improved. In addition, tourist resorts and trade centers will eventually be built near the Nhon Hoi Economic Zone.
For years now, Binh Dinh and other central provinces and cities have in place a 'red-carpet' policy to attract investors. After Vietnam became a member of the Word Trade Organization (WTO), foreign investment in the country soared. In the Central Major Economic Zone, which includes the Chan May, Chu Lai and Dung Quat Economic Zone, have come projects worth severalbillion US dollars. Actually, 42 domestic and foreign investors have pledge ton inves more than US$3 billion in the Nhon Hoi Economic Zone.
At a worshop entitled 'The Central Coastal Region-Potential and Invesment Opportunities' that was held recently in Quy Nhon, Kyoshiro Ichikawa, a senior investment advior of the Ministry of Planning and Investment said taht with its outstanding advantages, the Nhon Hoi Economic Zone can be an engine for local and regional economic growth in the near future.
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A profile of the Nhon Hoi Economic Zone
The Nhon Hoi Economic Zone encompasses about 12,000ha and includes the communes of Nhon Hoi, Nhon Ly, Nhon Hai, Area 9 of Hai Cang Ward in Quy Nhon, part of the Phuoc Hoa and Phuoc Son communes in Tuy Phuoc district and part of the Cat Tien, Cat Chanh and Cat Hai communes in Phu Cat district. This is a general, multi-sector economic zone that concentrates on large industries-agriculture-forestry-fishery processing, construction material, oceangoing ship building and repair, petrochemicals, electronics, electrical meterials and textile-leather-garment exports. By building warehouses, operating the deep-water seaport area and Nhon Hoi Port logistics service projects, the Duc Co Border Crossing in Gia Lai and the Bo Y Border Crossing in Kon Tum province and maintaining National Highway 19, it is expected that the Nhon Hoi Economic Zone will become an important gateway to the sea for south central Vietnam, the Central Highlands and the Greater Mekong Sub-region.
Big Projects That are Underway
- Nhon Hoi Industrial Park A: The Hong Yeung Vietnam One-Member Co.,Ltd. is building this 447 ha economic zone. This involves leveling the ground, planting trees, building roads and sidewalks, drainage, water and power supplies and a waste water treatment systerm.
- Nhon Hoi Industrial Park B: The Sai Gon-Nhon Hoi Industrial Park joint Stock Company (SNP) is the investor of this 630 ha industrial park and it will be an international-standard business environment. SNP is a member of the Saigon Invest Group (SGI) which invests in financial institutions and real estate, particularly urban construction and Industrial parks. |
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