Vung Ang Economic Zone - Center of growth momentum

Mr. Tran Viet Ha - Head of Provincial Economic Zone Management Board.

PV: Sir, Vung Ang Economic Zone has been affirmed as the province's driving force at many congresses and continues to be identified in the draft political report submitted to the 20th Provincial Party Congress. Could you please tell us about the mission and tasks of Vung Ang Economic Zone in the new context?

Mr. Tran Viet Ha : Since its establishment 19 years ago under Decision No. 72/2006/QD-TTg dated April 3, 2006 of the Prime Minister, Vung Ang Economic Zone has been identified with a historic mission: to become a growth engine for Ha Tinh to make a breakthrough. The Resolution of the 19th Provincial Party Congress determined the strategy: "Maximum mobilization and effective use of resources to build Vung Ang Economic Zone to truly become a multifunctional economic zone, a dynamic industrial and logistics center". The planning of Ha Tinh province for the period 2021-2030, with a vision to 2050, approved by the Prime Minister in November 2022, identified the stature of Vung Ang Economic Zone as "a growth engine center" of Ha Tinh in the new development period.

Vung Ang Economic Zone is the growth engine center of the province.

Right from the beginning of the term, the Provincial Party Committee issued Resolution No. 09-NQ/TU dated November 22, 2021 on the development of Vung Ang Economic Zone to focus on leadership, direction, and prioritize resources for implementation. From 2021 to present, Vung Ang Economic Zone has attracted a total registered investment capital of nearly 6.5 billion USD (32 projects), 15 times higher than the total newly registered investment capital of the entire period 2016-2020. Vung Ang Economic Zone currently has 153 investment projects with a total registered capital of over 19.5 billion USD. The presence of large-scale investors such as Formosa (the largest FDI project in Vietnam), Vung Ang 1 Thermal Power Plant, Vung Ang 2 Thermal Power Plant and most recently Vingroup Corporation with its electric car and battery manufacturing ecosystem has helped Vung Ang Economic Zone gradually develop to become a major regional industrial center for metallurgy, energy and manufacturing.

In the coming period, the role of Vung Ang Economic Zone is not only a driving force but also a strategic breakthrough. The draft political report of the 20th Provincial Party Congress has identified the task of "Building and expanding Vung Ang Economic Zone to become an industrial - energy - seaport - logistics center of the region and the whole country". This not only demonstrates the great expectations of the Party Committee and the People of the province for Vung Ang Economic Zone, but also requires the Economic Zone to quickly deploy solutions to accelerate and make a breakthrough in the new period. In the condition that the industrial land fund of Vung Ang Economic Zone is not much left, to meet the increasing demand of businesses and investors, the immediate requirement is to complete the procedures to expand Vung Ang Economic Zone. On that basis, continue to complete the planning, site clearance, create land fund, develop synchronous infrastructure and propose to competent authorities to consider establishing Vung Ang Free Trade Zone (FTA). Maximizing potential and advantages, developing existing pillars and exploring new growth drivers, along with the determination of the entire provincial political system and the support of central agencies, I believe that Vung Ang Economic Zone will create a breakthrough to help Ha Tinh grow strongly.

Ha Tinh possesses outstanding competitive advantages with its strategic geographical location associated with the deep-water port cluster of Vung Ang - Son Duong, capable of receiving large-tonnage ships in the world.

PV: Could you share more information about the construction of the Vung Ang Trade and Investment Zone? What preparations have we made for this breakthrough?

Mr. Tran Viet Ha: The Free Trade Zone is a modern economic model that has been successfully applied in many countries around the world, and is considered an effective tool to attract investment, promote trade and transfer technology. This is an area with a high level of openness, applying outstanding incentive mechanisms, synchronous and modern technical infrastructure - services and flexible management methods, suitable for the requirements of international integration and competition. This is the "locomotive" of economic growth in many countries and is the direction that our Party has determined to create a breakthrough in development.

Ha Tinh has a solid foundation to confidently propose this model in Vung Ang Economic Zone. We possess an outstanding competitive advantage with a strategic geographical location associated with the Vung Ang - Son Duong deep-water port cluster capable of receiving large-tonnage ships in the world, connecting the inland waterway transport network directly with international shipping routes.

Currently, the Provincial Economic Zone Management Board, relevant departments, branches and localities are urgently researching and coordinating with experts and reputable consulting units to build the most feasible and comprehensive project. With a vision to 2030, Vung Ang Economic Zone associated with deep-water seaport will become a high-tech industrial center, modern logistics, clean energy development associated with diverse and rich trade and service activities.

PV: To realize new development orientations and strategies, what tasks and solutions does the Provincial Economic Zone Management Board advise and implement, sir?

Mr. Tran Viet Ha: To realize this great aspiration, the Provincial Economic Zone Management Board is focusing on consulting and implementing 5 key groups of tasks and solutions:

Firstly, create consensus and the highest political determination. Considering this a historic opportunity to change the province's stature, it is necessary to widely propagate in many diverse, rich and practical forms so that the people understand, agree with and support this policy.

The VinFast Electric Car Manufacturing Plant (invested by Vingroup) coming into operation marks an important turning point in realizing the green growth and sustainable development orientation of the province's industry.

Second, complete the planning and infrastructure. We will speed up the procedures for expanding the Vung Ang Economic Zone and the Project for establishing a Trade and Investment Zone; proactively implement and advise competent authorities to prioritize all resources to complete the planning, synchronously invest in multi-modal transport infrastructure, infrastructure of industrial parks, seaports, and logistics centers.

Third, create a competitive investment environment. The goal is to build an open and transparent investment and business environment, with quick procedures, creating the most favorable conditions for investors according to the motto "Government creates and serves".

Fourth, prepare high-quality human resources, promote close links between "State - School - Enterprise", link training with practical market needs; promote job creation, improve qualifications and technical skills of local workers, workers in land recovery and transfer areas to serve projects.

Fifth, be steadfast in the goal of sustainable development; attracting investment must be selective, prioritizing green and clean industries, using advanced and modern technology, and strictly controlling pollution risks. Vung Ang Economic Zone must be an economically prosperous, environmentally clean and socially safe economic zone.

PV: Thank you very much!

Source: https://baohatinh.vn/khu-kinh-te-vung-ang-trung-tam-dong-luc-tang-truong-post296322.html