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Phu Yen Province aims to attract large-scale projects
South central Phu Yen Province has announced that it is making considerable efforts in managing large-scale projects in order to boost the local economy.
"During previous years, while Phu Yen managed to attract many projects to help it escape poverty, most were too small to significantly grow the economy," said Deputy Chairman of the provincial People's Committee Le Van Truc.
According to Truc, the province plans to develop three specific projects, including the Nam Phu Yen (South Phu Yen) Economic Zone, one part of the South Phu Yen - North Khanh Hoa regional Zone.
The Vung Ro Refinery, a US$1.7 billion foreign-invested project, and a provincial tourism complex, were both scheduled for development next year, Truc confirmed.
To attract additional investment, the province is determined to significantly improve infrastructure, reform administration and train human resources.
The province has already upgraded transportation facilities by constructing roads leading to the sea and economic zones.
To date, Phu Yen has attracted 258 projects, 221 of which are domestic-invested and 37 foreign-invested.
Around 90 domestic projects and 18 foreign projects have been put into operation.
The costal province shares borders with Binh Dinh, Khanh Hoa, Dak Lak and Gia Lai provinces.
The province, blessed with diverse resources, has done much to invest in refineries, petrochemistry, seafood processing, technology and tourism.
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