NA Chairman vows to support Vung Ang EZ

National Assembly Chairman Nguyen Sinh Hung yesterday told investors in the Vung Ang Economic Zone (EZ) in central Ha Tinh Province that the Government would help them speed up the development process there.

The Vung Ang EZ is located on the North-South traffic axis and the East West economic corridor, some 60km from Ha Tinh City. It is easy to reach South Asian, North American and African countries from the Vung Ang and Son Duong deep-sea port via international maritime routes. The port is also a favourable gateway to the sea for Laos and North Eastern Thailand.

Along with other economic zones in central Viet Nam, Vung Ang is forming a chain of economic zones closely linked with each other to gradually become a nucleus of growth and the centre for metallurgical industry-port services-tourism in the North Central region.

The Vung Ang EZ now has 153 projects licensed with total investment capital of over US$16 billion. Some of the projects commissioned include the North Central Viet Nam Liquefied Petroleum Gas (LPG) General Storage, the Vung Ang Port (berths No 1 and 2) and the Vung Ang Oil and Gas General Storage.

At present more than 3,100 workers are working at enterprises operating in the Vung Ang EZ while some 7,000 others are engaged in implementing various packaging projects there.

During the meeting with the NA Chairman, the investors and the Vung Ang EZ Management Board asked the National Assembly to compile a Law on Building and Developing Economic Zones and issue preferential mechanisms to encourage investors to focus on IT and the clean technology industry.

Hung shared the challenges and difficulties facing investors in the context of the global economic crisis. He asked them and the EZ Management Board as well as local authorities to be proactive in co-ordination to find ways to overcome challenges in order to speed up the project process so that many more projects would be put into commission soon.

"This is a good way to contribute to local socio – economic development," Hung said.­

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