VietNamNet Bridge – Operational economic zones (EZs) have attracted some $8.6bil worth of investment capital, according to a newly released report by the Ministry of Planning and Investment (MPI).
 | | Dung Quat port | The report says that EZs prove to have good performances, and the total capital to be injected in projects in EZs may reach $14bil by the end of this year.
There are eight EZs: Chu Lai in Quang Nam province, Dung Quat in Quang Ngai, Nhon Hoi in Binh Dinh, Chan May-Lang Co in Thua Thien-Hue, Vung Ang in Ha Tinh, Nghi Son in Thanh Hoa, Van Phong in Khanh Hoa, Phu Quoc Island and Nam An Thoi group of islands in Kien Giang province. Six of the EZs are located in the central region, while only two are in the southern region.
Several of the EZs have just been licenced and they are still under construction. However, many investors have registered investment in the EZs, thanks to the natural advantages and attractive investment incentives.
The Dung Quat EZ, for example, has accepted 70 investment projects which have the total investment capital of $3.8bil. Of these projects, 33 projects have become operational, including very important ones on an oil refinery, shipbuilding, steel laminating and heavy mechanics facilities.
The Chan May-Lang Co EZ has attracted 50 investment projects worth $1bil, mainly in the fields of industries, tourism, shipbuilding and seaport development.
The Chu Lai EZ has successfully attracted 43 investment projects capitalised at $480mil, which will specialise in assembling vehicles, making floating glass and thermopower plants.
The Van Phong EZ in Khanh Hoa province has caught the special attention of the Japanese group, Sumitomo, which is planning to build a container transit port, expected to cost $250mil. The group is also planning to set up a coal-run thermopower plant there with the total capital of $3.5bil. The projects are on the table of competent authorities for consideration.
Meanwhile, the Vung Ang EZ has found a big domestic investor, Lilama, which will implement a project on a thermopower plant which has the investment capital of $1.25bil. The Nghi Son EZ will also have a thermopower plant, the construction of which has been kicked off.
According to MPI, in the second half of 2007 and 2008, the capital to be flown into EZs will see sharp increases once big projects become operational after completing procedures.
Ministry officials have estimated that some $2.5-3bil more of capital will be pumped into the EZs. The most important thing the EZs should do now is to push up the construction of infrastructure items, creating favourable conditions for the investors to run their projects.
In related news, the MPI’s report also announced that by the end of May 2007, Vietnamese investors had registered 200 external investment projects totalling more than $1bil.
In the first five months of the year alone, Vietnam approved 15 investment projects abroad with the total capital of $89.5mil.
Vietnam-invested projects are running in 33 countries and territories in the world, but most of the projects are being carried out in Laos (70 projects, $461mil in capital), Algeria, Iraq, Cambodia and Russia.
It is expected that in 2008, the capital of new external investment projects will be $500mil.
Viet nam net | 
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