PM requests facilitation of Public-Private Partnership for Vân Phong Economic Zone development

Prime Minister Phạm Minh Chính surveys the Vân Phong Bay area in Khánh Hoà on Saturday. — VNA/VnExpress News Photo Dương Giang

KHÁNH HOÀ — Prime Minister Phạm Minh Chính has demanded favourable mechanisms be issued to facilitate public-private partnership (PPP) in infrastructure building, to boost the development of the Vân Phong Economic Zone (EZ), during a working visit to the area on Saturday.

Established in 2006, the Vân Phong EZ is located in Vân Ninh District and Ninh Hoà Town of the south-central coastal province of Khánh Hoà. It is a multi-sectoral EZ with an international container port, an oil refinery and a point of transit for petroleum and petroleum products. It also includes tourism, services, industry, aquaculture and other economic sectors. Vân Phong serves as the economic centre of Khánh Hoà, an investment magnet and a driving force for economic development in neighbouring areas.

As of 2021, it attracted more than 150 investment projects with registered capital totalling over US$4 billion, including over 120 domestic and 30 foreign projects. Most of the near-100 projects already in operation are small ones.

PM Chính said Vân Phong boasts outstanding potential and great competitiveness in economic development, especially sea-based economy and tourism.

However, he noted, as it will be hard to achieve fast growth if the EZ relies solely on public investment, the province, ministries, and sectors need to work out mechanisms and policies, especially those boosting PPP in infrastructure building, to promote its development.

PPP models should be stepped up based on the principle of harmonising interests among the State, people, and businesses, he added.

Visiting the Hyundai Việt Nam shipyard in Vân Phong EZ, the Government leader expressed his hope that Hyundai will continue expanding its investment, increase the proportion of domestically-made components in its products, improving manufacturing quality in tandem with environmental protection, bettering its workers’ material and spiritual life and contributing more to the local budget, helping promote relations between Việt Nam and the Republic of Korea.

The shipyard posts annual revenue of over $500 million, contributes more than $5 million to the local budget each year and is provides jobs for more than 5,000 workers.

On the same day, PM Chính examined the site set to be the starting point of an expressway from Khánh Hoà Province to Buôn Ma Thuột of Đắk Lắk Province in the Central Highlands. This road will be about 115-130km long with a total investment of over VNĐ21.9 trillion ($957 million).

He asked ministries and sectors to work with the two provinces to accelerate preparations to submit this project to the National Assembly for consideration in the coming session.

He stressed that the expressway holds great significance since it will help connect eastern areas with western ones, and the north with the south, contributing to the development of the entire Central Highlands region. — VnExpress News