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The Nhon Hoi Economic Zone (EZ) has seen many large-scale works, including different industrial parks, urban areas, and services with full potential. Many measures are expected to be carried out in 2011, aiming to boost the construction progress and attract more projects.
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Minister of Finance Vu Van Ninh (first from right) is briefed on some functional areas in the Nhon Hoi EZ.
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Results
The Nhon Hoi EZ has been known for years as a potential land making breakthroughs in the socio-economic development cause in the province and region. Its key infrastructure has been built since 2007 with the aim at becoming an industrial-services-tourism hub of the province and the central key economic region.
Every effort has been, thus, made to boost the construction progress and attract investors in the Nhon Hoi EZ in the past three years.
The infrastructure construction and investment attraction reaped many encouraging results. Many investors were, for example, offered favourable conditions to implement their projects, such as the Trung Luong tourism site, the industrial parks A and B, and some trade centers.
The compensation for the EZ’s functional areas focused on the non-tariff zone, Vinh Hoi tourism site, and Hai Giang tourism site.
The infrastructure has basically met the demand for investment attraction so far. The industrial park A saw 50-percent completion of roads and drainage system, let alone an area of 450 ha ready for investment projects. An area of 210 ha in the industrial park B was also leveled.
Also, the investment promotion has been boosted, helping the Nhon Hoi EZ attract many domestic and foreign investors. They come to Binh Dinh to seek investment opportunities and promise to invest in the EZ.
Six projects worth more than VND12 trillion were licensed to be invested in the Nhon Hoi EZ in 2010, accounting for 178 percent of the target. It now sees a total of 32 projects with the registered capital of over VND32 trillion.
In addition, the Austfeed plant and Hoa Phat’s workshop were put into operation last year.
At the investment promotion conference held in Quy Nhon in January, 2010, nine projects were licensed with the total capital of more than VND119 trillion (US$6.63 billion).
New prospects
The Nhon Hoi EZ has been developed strongly in the past five years. It proves great potential for various projects and services.
After the global economic had showed signs of recovery, the province’s EZ authority made all-out effort to promote the compensation, ground clearance, as well as key infrastructure construction to attract more projects.
According to the target set by provincial EZ authority, the Nhon Hoi EZ’s industrial production and export turnover values are expected to respectively account for 20 percent and 10 percent of the province’s total industrial production and export turnover values by 2015.
To meet the target, the 2011’s key tasks will focus on the ground clearance for Vinh Hoi resort, Hai Giang tourism site, and Linh Phong historical tourism site.
The technical infrastructure, sewage works, solid waste treatment system, and some resettlement areas are required to be finished this year.
Investors will also be supported in finishing all formalities and resolving difficulties in compensation and ground clearance.
Binh Dinh will give priority over some fields of power, electronic, mechanics, agro-forestry-aquatic products processing, oil refinery, and wind power in 2011.
Alongside these, this year will also see the implementation of two important projects, that is, the oil refinery – thermoelectric plant and wind power factory in the Nhon Hoi EZ, according to head of the province’s EZ authority, Man Ngoc Ly.
The oil refinery – thermoelectric plant project is now prepared for early construction. The oil refinery was designed to have a capacity of 3 million ton per year in the first phase and 6-8 million tons per year in the second phase while the thermoelectric plant is expected to generate 700 MW annually.
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