Khanh Hoa approves plan to develop Bac Van Phong SEZ

By Anh Nguyen - Dec 09, 2017 | 07:59 AM GMT+7

TheLEADERThe Bac Van Phong special administrative-economic zone (SEZ) will focus on four sectors for economic development, including shipping, commerce and finance, travel, health and education, and high-tech industry.

Khanh Hoa approves plan to develop Bac Van Phong SEZ
Bac Van Phong is strategically important for economic development. (Photo: Khánh Hòa Online)

At the fifth session on December 7, Khanh Hoa People's Council issued a resolution approving the scheme of the provincial People's Committee on the establishment of the Bac Van Phong SEZ in Khanh Hoa province. The zone will cover the entire natural area and population of Van Ninh district.

Bac Van Phong will join a list of SEZs that are under some stage of planning and development, including Van Don SEZ in Quang Ninh province and Phu Quoc SEZ in Kien Giang province.

Van Ninh district’s total area is about 111,000 hectares, including 56,000 hectares of land and 55,000 hectares of water surface; The district’s total population in its 12 communes and one town in 2011 was 128,000 people.

The scheme to develop Bac Van Phong SEZ clearly states that Van Phong Bay in general and Bac Van Phong area, in particular, have important geo-economic and strategic position in Vietnam and the region. The area conquers all favorable conditions to build a gateway area developed towards the East Sea of Vietnam and the Indochinese Peninsula.

Specifically, Bac Van Phong has an important strategic position for the economic development along the East-West and North-South Economic Corridors and also for the development of trade with countries in the Asia-Pacific region. This will promote the development of marine economic sectors in the whole country at large and the southern Central region, the Central Highlands and Khanh Hoa province, in particular, greatly contributing to ensure the national sovereignty over sea and islands.

The People's Council of Khanh Hoa Province has assigned the provincial People's Committee to complete the necessary dossier and submit it to competent authorities.