The Prime Minister approved the investment policy of two major projects in Van Phong Economic Zone.

The Tu Bong New Urban Area and Dam Mon New Urban Area in Van Phong Economic Zone, Khanh Hoa province have just been approved by the Prime Minister for investment with a total capital of more than 65,308 billion VND.

Van Phong Economic Zone, Khanh Hoa Province. Photo: Linh Dan

The Prime Minister has just decided to approve the investment policy of two major projects in Van Phong Economic Zone, including: Tu Bong New Urban Area and Dam Mon New Urban Area.

Accordingly, in Decision No. 1450, the Prime Minister approved the investment policy of the Tu Bong New Urban Area project. The project has a land use scale of more than 2,579 hectares, including more than 621.8 hectares of land formed from sea encroachment (the area from the lowest average sea level edge over many years to the project boundary) and 7.18 hectares of land for social housing development.

The expected population of the project is 74,700 people. The preliminary structure of the project's housing products: 1,002 townhouses, 609 villas, 3,812 apartments, 1,130 social housing; service works, resort tourism, tourist accommodation facilities; other public works serving residential units and urban areas.

The project does not allow foreign organizations and individuals to own houses within 200 m from the boundary of the national defense land (Van Long Border Guard Team/Dam Mon Border Guard Station) and around and in the Project area belonging to the sea border area.

Total investment capital excluding compensation and resettlement support costs is about 40,189 billion VND. Compensation and resettlement support costs are about 2,812 billion VND. Project duration: 50 years from the date the investor receives the land allocation decision, land lease decision, and land use purpose change decision. Project implementation location: Van Binh commune, Van Thang commune, Van Khanh commune, Van Phuoc commune, Van Long commune, Van Tho commune, Van Ninh district, Khanh Hoa province (in Van Phong Economic Zone). Project implementation progress from the second quarter of 2025 to the fourth quarter of 2034.

In Decision 1451, the Prime Minister approved the investment policy of the Dam Mon New Urban Area project. Accordingly, the project has a land use scale of more than 1,440 hectares, including more than 82 hectares of land formed from sea encroachment (the area from the lowest average sea level edge in many years to the project boundary) and 3.99 hectares of land for social housing development. The expected population size of the project is 28,540 people. The forest area converted to other purposes: about 21.8 hectares of production forest is planted forest.

Preliminary housing product structure of the Project: 791 townhouses, 592 villas, 858 apartments, 352 social housing; service works, resort tourism, tourist accommodation facilities; other public works serving residential units and urban areas. This project also does not allow foreign organizations and individuals to own houses within 200m from the border of the national defense land (Standing Militia Squadron/Khanh Hoa Provincial Military Command; Dam Mon Border Guard Station/Khanh Hoa Provincial Border Guard Command) to the surrounding area and in the Project area in the maritime border area.

Total investment capital excluding compensation and resettlement support costs is more than VND 25,119 billion. Compensation and resettlement support costs are more than VND 526 billion. The project's operating period is 50 years from the date the investor receives the land allocation decision, land lease decision, and land use purpose change decision. Project implementation location: Van Thanh commune, Van Ninh district, Khanh Hoa province (in Van Phong Economic Zone). Project implementation progress is from the second quarter of 2025 to the fourth quarter of 2034.

The investment project to build 2 new high-class urban areas contributes to the completion and synchronization of the technical infrastructure system; commercial housing, residential land, service works, resort tourism, tourist accommodation facilities operating according to international standards on sustainable development of the tourism industry; public works, services for residential units and urban areas (schools, medical stations, hospitals, markets, commercial centers, cultural houses...). At the same time, building a system of parks, urban trees, thematic parks, tourist wharves with the goal of forming a green urban area, modern, smart, international-class facilities to promote the socio-economic development of the locality in general and Van Phong Economic Zone in particular, contributing to effectively exploiting the land fund of the area.

The above two projects were selected as investors according to the provisions of Resolution No. 55 dated June 16, 2022 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province.

Source: https://baodautu.vn/thu-tuong-chinh-phu-chap-thuan-chu-truong-dau-tu-2-du-an-lon-tai-khu-kinh-te-van-phong-d318338.html