| Target | Port projects in Vung Ro area |
| Location | Phu Yen Province |
Vung Ro Port in Phu Yen up and running
The deep-water Vung Ro Port, in the central
province
of
Phu Yen
, began operating on June 17, allowing ships to enter and leave the sea area under the port authority. The construction of Vung Ro Port aimed to relieve Quy Nhon Port, located further north of Phu Yen, of large numbers of incoming ships while creating favourable conditions for importing and exporting goods between Phuoc Tan-Bai Nga and the industrial park of Hoa Hiep. The port is in the key economic zone which includes the transshipment port of Van Phong Bay. Source: Website of Phu Yen Province -----------------------------
Phu
Yen
Province
Phu Yen is a central coastal province in Viet Nam with population of more than 820,000 and an area of 5,045 sq.km. The province has a work force of 462,000 and about 7,720 have graduated from university. It is well connected by road, rail, water and air to the rest of the country and internationally, with Vung Ro port and Tuy Hoa airport. Last year, Phu Yen recorded economic growth of 11.3 per cent more than 2002. The province has potential to develop tourism, aquaculture, agriculture and, in particular, mineral resources including granite, diatomite, bauxite, fluorite, peat and gold. Phu Yen?s power, water, telecommunications, banking and insurance services are reliable. It has two industrial zones (IZs), Hoa Hiep and An Phu, with plans underway to construct Bac Phu Yen IZ and others. Investment incentives Investors in projects based at IZs will enjoy preferential land rent of VND1,700 per square metre per annum. Projects based in areas defined as difficult will be exempt from land rental for up to 12 years; with export duties for IZ projects waived, and import taxes on raw materials waived for the first five years of a project?s life. Manufacturers at IZs will be exempt from corporate income tax for five years after first turning a profit, and will receive a 50 per cent tax break for the subsequent four years. Phu Yen has allocated budget funds for investors to train personnel, exploit natural resources, apply science and technology to production, register trademarks and promote sales. The list Phu Yen is seeking foreign direct investment from now until the end of 2005 for the projects [below]. These projects could be entirely foreign-invested, joint-venture or a venture under the build-operate-transfer (BOT) model. 1. Infrastructure construction for industrial zones on 200ha in Tuy Hoa Town and Song Cau District Estimated capital: US$20 million 2. Building a 100ha tourism village in Song Cau District Estimated capital: $19 million 3. An export-focused textile and garment factory with annual capacity of 10 million metres of fabric in Tuy Hoa Town Estimated capital: $10 million 4. A plant to exploit and process diatomite with annual capacity of 10,000 tonnes in Tuy An District Estimated capital: $10 million 5. Planting and processing fruits for export with annual capacity of 5,000 tonnes on an area of 3,000ha across three districts of Tuy An, Son Hoa, Dong Xuan. Estimated capital: $10 million 6. Expanding Vung Ro sea port in Tuy Hoa Estimated capital: $10 million 7. Catching and processing seafood offshore Estimated capital: $10 million 8. Infrastructure for southeast Song Cau III IZ on 100 ha in Song Cau District Estimated capital: $10 million 9. A factory to produce electronics and spare parts with annual capacity of 20,000 items in Tuy Hoa town?s An Phu IZ Estimated capital: $5 million 10. A footwear factory with annual capacity four million shoes in Tuy Hoa?s Hoa Hiep IZ Estimated capital: $5 million 11. A ceramics factory with annual capacity of one million square metres in Tuy An District Estimated capital: $10 million 12. Coconut plantation and processing factory with capacity to process 50 million coconuts per annum in Song Cau and Tuy An districts Estimated capital: $5 million 13. Developing the 10ha Bai Bang-Bai Tien tourism resort in Tuy Hoa District Estimated capital: $3 million 14. Constructing a high-rise building in Tuy Hoa town Estimated capital: $3 million 15. Constructing a 30ha service area outside Hoa Hiep IZ Estimated capital: $5 million 16. Developing Bai Chua tourism resort in Tuy Hoa District Estimated capital: $2 million 17. Developing Hon Nua tourism resort in Tuy Hoa District Estimated capital: $2 million 18. Developing Dap Han-Bien Ho tourism resort in Tuy Hoa District Estimated capital: $2 million |
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