Nam Phu Yen Economic Zone was established by the Prime Minister in 2008, and the master plan was approved in 2009. In 2015, the Prime Minister included Nam Phu Yen Economic Zone in the eight key coastal economic zones of the country.
Nam Phu Yen Economic Zone is built and developed to become one of the important industrial and seaport centers of the South Central Coast and Central Highlands, combined with Van Phong Economic Zone ( Khanh Hoa ) to form the Nam Phu Yen - North Khanh Hoa Economic Zone with large scale, high attractiveness, and is the driving force to attract investment of the province.
Announcement of adjustment of planning of Nam Phu Yen Economic Zone
Since its establishment, Nam Phu Yen Economic Zone has made significant progress; infrastructure has been invested in and built relatively synchronously and completely, such as: Deo Ca road tunnel, North-South expressway, coastal road, inter-regional roads in the economic zone...
By September 2023, Nam Phu Yen Economic Zone had attracted 54 projects, with a registered land area of 229.3 hectares and a total registered capital of more than VND 3,681 billion and nearly USD 24.4 million. Projects in Nam Phu Yen Economic Zone have contributed to the socio-economic development of the province.
Mr. Ta Anh Tuan, Chairman of Phu Yen Provincial People's Committee, said: "After more than 13 years of implementation, there are some contents that need to be updated to fully promote the potential and development advantages of Nam Phu Yen Economic Zone in the new period. Therefore, adjusting the general planning for the construction of Nam Phu Yen Economic Zone is extremely necessary."
The adjustment of the master plan for the construction of the South Phu Yen Economic Zone until 2040 is an important legal basis for Phu Yen province to promptly remove bottlenecks, problems, and limitations in the development of the South Phu Yen Economic Zone in the recent past, meeting the needs of investment and development according to new trends.
"This is also an important step to concretize new development strategies of the country and the region, creating a solid legal basis to successfully implement socio-economic development goals, ensuring national defense and security of the North Central and Central Coast regions in general and Phu Yen province in particular," said Mr. Tuan.
Nam Phu Yen Economic Zone after planning adjustment
According to the adjusted plan, the South Phu Yen Economic Zone by 2040 will have three functional characteristics. The first is a multi-sector, multi-sector marine economic zone with a focus on developing industries such as: High-tech industry, industries associated with seaports, focusing on attracting metallurgical, petrochemical, energy industries, etc.; eco-tourism; urban commercial services - river and sea tourism associated with the exploitation of Tuy Hoa airport and the seaport system. Developing the traditional marine economy closely links economic development with ensuring security, national defense and adapting to climate change.
Second, it is one of the important hubs for transportation, trade and international exchange in the Central and Central Highlands regions; the gateway connecting to the East Sea of the Central Highlands and ASEAN countries.
Third, it is a comprehensive economic zone with modern infrastructure as a driving force for the development of the South Central Coast region. It has links, support and sharing with Van Phong Economic Zone and neighboring areas.
In addition, the master plan adjustment project has determined the vision and orientation for the development of the economic zone space: The structure of an industrial belt in the west and a service strip in the east; Two green corridors along the Da Rang River and Ban Thach River.
The Prime Minister's approval of the adjustment of the Master Plan for the construction of the South Phu Yen Economic Zone to 2040 is of great significance. This will be an extremely important tool for Phu Yen province to organize the management and control of investment and development activities of the South Phu Yen Economic Zone and will be the foundation to promote the development of this economic zone in a dynamic, breakthrough, effective and sustainable direction in the new period.
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