Established in April 2006, the Vung Ang Economic Zone is built upon the Vung Ang Industrial Port complex dating back to 1997. It is an integral part of both the Vung Ang urban area and the North Quang Binh – South Ha Tinh economic region. With an area of 22,781 hectares, as stipulated in Decision 72/2006/QD-TTg by the Prime Minister on April 3, 2006, its primary goal is to develop into a multi-sector economic zone with the following key focuses:
1. Developing the metallurgical industry and leveraging abundant resources and raw materials. Additionally, it fosters industries associated with port operations, steel production, thermal power centers, and oil refining.
2. Establishing and expanding the integrated Vung Ang – Son Duong port area. This encompasses effective investments and exploitation of the port complex, along with the development of port services and maritime transportation, to become a vital gateway in the North Central region.
3. Undertaking the construction of the new Vung Ang urban area, emphasizing the development of ecotourism and beach resorts, which will serve as significant tourist destinations along the North Central coastal tourism route.
By capitalizing on its advantageous natural geographic location, including its proximity to deep-water ports in Vung Ang and Son Duong, National Highway 1, Highway 12A connecting Laos and Thailand, and the Thach Khe iron mine, the establishment of the Vung Ang Economic Zone seeks to drive socio-economic development in Ha Tinh, facilitate groundbreaking advancements in the economic and social sectors of the North Central region, foster development connections between provinces within the region, bridge socio-economic disparities, and integrate with both the nation and the international community.
Overview Vung Ang Economic Zone – Ha Tinh – TTTFIC Group
Geographical location:
The Vung Ang Economic Zone spans 22,781 hectares, encompassing 9 communes and wards in southern Ky Anh town. Its strategic location near the mountains and facing the East Sea positions it around 70 km south of Ha Tinh City and 50 km north of Dong Hoi Airport in Quang Binh.
Located on the North-South transportation axis, the Vung Ang EZ facilitates trade along the East-West economic corridor. It connects to all regions of Vietnam via National Highway 1A, the Ho Chi Minh Road, and the North-South railway. Furthermore, National Highway 8A and National Highway 12, which link to the Ho Chi Minh Road, offer the shortest road route from a Vietnamese seaport to Laos and the Northeastern provinces of Thailand.
The infrastructure of Vung Ang Economic Zone:
The Vung Ang Economic Zone hosts the Vung Ang – Son Duong deep-water port cluster, planned by the Prime Minister until 2030 and envisioned as a gateway for regional socio-economic development, facilitating transit for Laos and Northeast Thailand.
Moreover, the Vung Ang – Son Duong deep-water port cluster benefits from its naturally deep depth and minimal siltation, allowing it to accommodate large vessels up to 350,000 DWT. It comprises comprehensive ports, including container, bulk cargo, and liquid cargo terminals. Additionally, its proximity to the international maritime routes in South Asia, North America, and Europe is advantageous.
To maximize the potential of the deep-water port cluster and regional transportation infrastructure, the Ha Tinh Provincial People’s Committee recently approved the detailed construction plan for the logistics center in the Vung Ang Economic Zone, covering an area of 133.32 hectares.
Ha Tinh aims to establish a regional and international-level logistics center in the Vung Ang Economic Zone to serve logistics activities locally, regionally, and globally. This endeavor aims to enhance the province’s competitive capacity, and gradually integrate the economy of Ha Tinh into the international economy.
Furthermore, Vung Ang Economic Zone is one of the five coastal economic zones chosen by the government for concentrated investment. It will become a steel industry, supporting industries, thermal power, and deep-water port hub for the Central and national regions, serving as one of Vietnam’s three international seaports.
Additionally, the Vung Ang Economic Zone possesses ample land suitable for industrial and urban development. Its diverse and abundant natural landscape provides favorable conditions for trade, services, ecotourism, resorts, and especially coastal tourism.
Development orientation of Vung An economic zone:
Developing the Vung Ang Economic Zone with a diverse range of industries is made possible by effective stimulus policies and efficient land clearance efforts. As a result, Vung Ang has become an attractive and fruitful investment destination.
To date, the Vung Ang Economic Zone has attracted 151 investment projects, including 94 domestic projects with a total registered capital of VND 59,802 billion and 57 foreign-invested projects with a total registered capital of over USD 13.5 billion, creating employment opportunities for nearly 20,000 workers.
Recognizing its potential and advantages, Ha Tinh province aims to develop the Vung Ang Economic Zone as a multi-industry and multi-sector hub, becoming the economic and urban center in the southern part of the province. In the early term of 2021-2025, the Provincial Party Committee issued Resolution No. 09-NQ/TU, outlining the development of the Vung Ang Economic Zone for the period 2021-2025 and setting the direction until 2030.
The content of the resolution:
The resolution emphasizes the following guiding principles: making the construction of the Vung Ang Economic Zone a focal point in socio-economic development, aligned with the provincial planning for the 2021-2030 period, and the vision until 2050. The objective is to develop the Vung Ang Economic Zone as a multi-industry and multi-sector hub, tightly connected to local socio-economic development and regional integration, as well as linking with other economic centers in the region. This development should be in line with social issues, environmental protection, and ensuring national defense and security.
The pillars of the Vung Ang Economic Zone’s development include the steel industry, energy, processing, manufacturing, logistics center, and port services, as well as the development of trade and services, establishing a solid foundation.
The synchronized development of the integrated steel industry, supporting industries, processing, manufacturing, and power center, connected to the Vung Ang – Son Duong deep-water port cluster, ensures comprehensive effectiveness in terms of socio-economic development, national defense, security, and environmental protection. This approach promotes growth, economic restructuring, and labor transformation towards industrialization and modernization. It also envisions the gradual development of Ky Anh town into a central urban area and the formation of Ky Anh city, linking the development of the southern part of Ha Tinh and northern Quang Binh.
With its potential, advantages, and comprehensive investment attraction policies, the Vung Ang Economic Zone is gradually realizing the aspiration of becoming a significant hub with pillars in the steel industry, logistics and port services, processing, and manufacturing. This contributes step by step to the deeper integration of Ha Tinh’s economy into the global economy.
SPECIFIC DEVELOPMENT TARGETS FOR VUNG ANG ECONOMIC ZONE PHASE 2021 – 2025, AIMING TOWARDS 2030.
* During the period from 2021 to 2025:
– Attract newly registered investment capital of USD 3.5 billion to USD 5.5 billion (with an actual implementation rate of 60% – 70%).
– Achieve industrial and service production growth rate of 15% to 20% per year.
– Total budget revenue for the entire period reaching VND 55,000 billion to VND 60,000 billion.
– Cargo throughput at the port exceeds 40 million tons per year.
– Total merchandise export turnover for the entire period reached USD 7.5 billion to USD 8.5 billion.
– Generate employment for over 25,000 workers.
* During the period after 2025 to 2030:
– Attract newly registered investment capital of USD 4 billion to USD 7 billion (with an actual implementation rate of 60% – 70%).
– Achieve industrial and service production growth rate of 15% to 20% per year.
– Total budget revenue for the entire period reaching VND 100,000 billion to VND 120,000 billion.
– Cargo throughput at the port exceeds 60 million tons per year.
– Total merchandise export turnover for the entire period reaching USD 12 billion to USD 14 billion.
The land for lease that belong to Industrial Park has run out of stock. Only the land and warehouse has been re-invested by individual investor that still available
TTTFIC Group: Guide to Industrial Real Estate in Vietnam
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Industrial real estate in industrial zones, Vietnam
