Phu Yen rolls out incentives to ramp up EZ development
Phu Yen rolls out incentives to ramp up EZ development
Phu Yen Economic Zones Management Authority has proposed a number of new initiatives on capital transition, site clearance, and other assistance mechanisms to support businesses and seek investors.
The authority has proposed that Phu Yen province designs solutions for removing barriers in attracting investment and facilitating project implementation.
Nguyen Xuan Hung, director of the authority, said that the unit’s operation has encountered numerous difficulties over the years due to a lack of inspection assignments in industrial zones (IZs) and economic zones (EZs), land allocation to the management board, repurposing forest use, and compensation and site clearance for some projects that have dragged on for years.
Hung’s team has proposed reallocating the central budget of 2021 from the Phuoc Tan-Bai Nga project to an inter-regional project and completing compensation and site clearance for the Phuoc Tan-Bai Nga route that passes through Vung Ro Refinery.
Simultaneously, the authority has requested approval from Phu Yen People’s Committee of a compensation plan and site clearance for several projects: the route connecting the National Highway No.1 to the EZs’ wastewater and hazardous waste treatment areas; and the traffic scheme along the coastal route in which Bai Goc Port connects National Highway No.1 to Van Phong EZ in Khanh Hoa province.
In addition, the authority has requested the province to direct relevant units to expeditiously complete compensation and site clearance for construction of technical infrastructure for the South Tuy Hoa urban area’s phase 1, the southern residential area and central park projects in the Southern New Urban Area of Tuy Hoa city, and more besides.
Le Tan Ho, Deputy Chairman of Phu Yen People’s Committee, said that he would identify and address existing issues, particularly in the field of infrastructure investment in the South Phu Yen EZ and other IZs in order to generate significant breakthroughs for attracting investment as soon as possible.
Ho also noted that management authority leaders should expedite the completion of the South Phu Yen EZ’s general planning and detailed construction planning while urging investors and sponsors of 12 permitted planning projects to approach, research, and survey to submit their proposals on investor selection imminently.
The authority will need to foster implementation of existing infrastructure and public investment projects, as well as examine and publicise the land fund in the South Phu Yen EZ and IZs to prepare a strategy for luring investment in new projects aiming to improve land-use efficiency.
As of November 2021, the South Phu Yen EZ and IZs have attracted four investment projects totalling nearly six hectares of registered land and $6.4 million in investment capital. Accumulated, 120 investment projects totalling 457ha have been attracted in the South Phu Yen EZ and IZs, with more than $35,500 in capital.
In 2021 thus far, the total value of industrial production in IZs and export revenue reached $305 million and $170 million, accounting for 97.22 per cent and 103 per cent of the year’s planned output, respectively. Enterprises provided $5.9 million to the central budget, representing 91.3 per cent of the year’s planned output and created jobs for around 10,200 people.
