Khanh Hoa to establish special administrative-economic unit
The People’s Council of the central province of Khanh Hoa adopted a resolution approving a project establishing Bac Van Phong (Northern Van Phong) special administrative-economic unit during its fifth session on December 7.
The fifth session of the People’s Council of the central province of Khanh Hoa (Source: VNA)
Khanh Hoa (VNA) – ThePeople’s Council of the central province of Khanh Hoa adopted a resolutionapproving a project establishing Bac Van Phong (Northern Van Phong) specialadministrative-economic unit during its fifth session on December 7.
The special unit will cover all the area and population of Van Ninh district,including about 111,000 ha of land and water surface and more than 128,000people in 12 communes and one town.
Van Phong Bay and the Northern Van Phong area hold an important strategic,geological-economic location for the country and the region, able to become agateway for Vietnam to reach the East Sea and the Indochina peninsula.
The area is also expected to help boost the nation’s maritime economy, the southerncentral region, the Central Highlands and Khanh Hoa province, and protectnational sovereignty over seas and islands.
The special unit will focus on developing sea transportation, trade-financialservices, tourism, health care, education and high-tech industrial development.
The People’s Council has assigned the provincial People’s Committee to completea dossier for the project to be submitted to competent agencies.
Northern Van Phong is one of the three specialadministrative-economic units initially developed on the basis of the theConclusion No 21-TB/TW issued on March 23, 2017 by the Politburo. The othersare Van Don in the northeastern province of Quang Ninh and Phu Quoc in the MekongDelta province of Kien Giang.
The Ministry of Planning and Investment expectedthat with preferential incentives, the three special zones would attractinvestment worth dozens of billions of dollars, which would generate huge sumsin terms of added value and boost average income to 12,000-13,000 USD percapita.
The ministry estimated that the special zoneswould contribute billions of dollars in taxes and fees to the State budget.-VNA
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The fifth session of the People’s Council of the central province of Khanh Hoa (Source: VNA)
