Vung Ang Economic Zone was established by according to the Decision No. 72/2006/QD-TTg, dated April 3rd 2006 by the Prime Minister in a total area of 22,781. The development objective of the Vung Ang Economic Zone has been identified as :Building and developing Vung Ang EZ to become integrated, interdisciplinary, multidisciplinary with the main point: develop metallurgical industries associated with advantages of resources, material resources; the industries associated with the operation of seaports, steel industry, thermal center and petrochemical

Vung Ang Economic Zone was established by according to the Decision No. 72/2006/QD-TTg, dated April 3rd 2006 by the Prime Minister in a total area of 22,781. The development objective of the Vung Ang Economic Zone has been identified as :Building and developing Vung Ang EZ to become integrated, interdisciplinary, multidisciplinary with the main point: develop metallurgical industries associated with advantages of resources, material resources; the industries associated with the operation of seaports, steel industry, thermal center and petrochemical, (2) develop Vung Ang - Son Duong complex sea port including port complex port investment and effective exploitation, port services development and maritime transport services to form an important marine gateway of North Central, (3) build new urban areas in Vung Ang, simultaneously develop ecotourism areas, sea resort tourism to become important tourism destination in the North Central area.

After nearly 10 years of construction and development, Vung Ang EZ gradually formed as an industry, commerce and urban center of the region, the country's key economic zone. More than 450 enterprises which have been licensed Business Registration and 93 projects which have been granted Investment Certificates with registered capital of nearly 17 billion USD. Vung Ang Economic Zone will be center for iron and steel refining with the capacity of 22.5 million tons / year in the future; Thermal power center with capacity of 7000MW; Vung Ang- Son Duong deep sea port cluster with accommodating vessels of 350,000 DWT - Petrochemical Center with a capacity of 16 million tons / year.

Up to now, the project in Vung Ang Economic Zone has started operations has achieved good growth (sales, import and export values, etc). The period of 2011-2014 Vung Ang EZ paid 12 571 billion national budget. Especially in 2014, VAEZ contributed 8027 billion national budget, representing 63.8% of the total budget of Vung Ang EZ in the period of 2011-2014. According to the development, the revenue from Vung Ang Economic Zone is increasing more and more. It is expected that the revenue reached 10.000 billion in 2015, accounting for 70% of total revenue in Ha Tinh. The period of 2011-2014, the export value in Vung Ang Economic Zone reached 745 million USD. In 2014, it reached 516 million, accounting for 69.3% of the whole period of 2011-2014.

With the high investment attraction in recent years, the investment projects implemented on schedule, Vung Ang Economic Zone has become the effective investment point. Besides, the projects put into operation, given the high economic value to the enterprise, created jobs for local workers and contributed to the Ha Tinh province budget. On the other hand, Management Board of Ha Tinh EZ Bao cares the technical infrastructure construction investment, create premise for the calling for investment promotion, investment priority field and development objectives of Vung Ang Economic Zone. The priority projects calling for investment in Vung Ang Economic Zone focuses on areas such as steel rolling mills, steel logistics industry, petrochemical industry, ports and maritime transport, trade and service centers, tourism linking to efficient exploitation of landscapes and beautiful beaches in Vung Ang Economic Zone. With the planning and effective planning management, sync and modern infrastructure investment, Vung Ang Economic Zone has enough conditions to attract harmonious investment between the areas, comprehensive and sustainable development.

In the near future (expected in 2018), the total of investment projects in Vung Ang Economic Zone will reach about 30 billion dollars and Vung Ang Economic Zone will become an industry, trade and service center with modern and sustainable development along with other economic zones of the Central Region to form an economic zone chain which has close links and gradually become the growth nucleus, the metallurgical industry, thermal, oil refinery - port service – travel center of North Central region and the market bridge with the ASEAN countries and other regions of the world.

According to Dang Van Thanh- Vice Chairman

                                                          Translator: Thanh Men-IPC Ha Tinh EZ


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