Ministry backs State funding for Vung Ang EZ
Ministry backs State funding for Vung Ang EZ
The Ministry of Planning and Investment (MPI) has agreed to support the Ha Tinh provincial authorities' proposal for more State funding for infrastructure projects in the Vung Ang Economic Zone.
After a recent meeting with the authorities, the ministry said it would seek Government approval for the release of the remaining VND219 billion (US$10.4 million) of the VND819-billion ($39-million) State budget for the projects in the central province's economic zone.
However, Minister of Planning and Investment Bui Quang Vinh asked Ha Tinh to provide the MPI with information regarding the distribution of VND600 billion ($28.6 million) in State funds earlier released to the zone, as well as the plan for the use of the remaining VND219 billion in the zone.
He also noted that the MPI has so far asked the Government to use the State budget for the construction of a housing project for workers at the zone. After getting Government approval, the ministry will continuously fund the project in 2015 and in the coming years.
The ministry will also seek Government support for Ha Tinh province's land clearance and housing resettlement for residents affected by the steel factory and the Son Duong sea port projects which Formosa Heavy Industries Corporation has funded.
To speed up the pace of implementation of important projects during this year's flood season, the MPI also proposed that the Government advance VND800 billion ($37.55 million) on the recommendation of Ha Tinh authorities.
Vinh has also sent a proposal for the Government to support the sustainable socio-economic development of communes affected by the projects.
The 22,000-hectare Vung Ang Economic Zone was established in Ha Tinh Province's Ky Anh District in 2006 and is considered as one of the country's five key coastal economic zones.
A total of 226 enterprises were granted business and investment licenses in the zone. Roughly 12,500 labourers work in the area, and the figure is forecast to reach 67,000 in 2015.
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