The south-central province of Khanh Hoa has proposed that the Prime Minister approves an amended master plan for the Van Phong Economic Zone until 2040, with vision until 2050.
Under the amended plan, the EZ will cover an area of 150,000 hectares - 70,000 hectares of mainland and islands (excluding sea-encroachment area); and 80,000 hectares of water surface in Van Ninh district and Ninh Hoa township.
The northern part of the EZ, or North Van Phong, will feature high-class service and tourism areas; an international seaport center; port logistics service areas; tourism urban areas and urban areas intertwined with coastal ecological spaces; financial and trade centers in the Hon Gom peninsula and Hon Lon Island.
The southern part, or South Van Phong, will include industrial complexes; container transshipment port, general port, tourism port, port logistics service areas; coastal urban areas; service and tourism areas interwoven with coastal ecological spaces in the east and northeast of Ninh Hoa township.
According to the provincial People's Committee, the Van Phong EZ will have 19 functional subdivisions, 13 of which will be located in Van Ninh district and six in Ninh Hoa township.
A North-South Expressway section linking Van Phong EZ and the province’s resort town of Nha Trang; and another connecting the EZ with Buon Me Thuot town in the Central Highlands province of Dak Lak will also be built.
The EZ will have two seaports. The North Van Phong seaport will serve inter-regional socio-economic development and is expected to become an international hub. It will be capable of accommodating container ships of up to 24,000 TEUs (250,000 tons), breakbulk vessels of 100,000 tons or larger, and cruise ships of up to 25,000 GT.
By 2030, an international passenger terminal will be built on an area of 160-200 hectares in Van Ninh district, capable of receiving 225,000 GT cruise ships.
Meanwhile, the South Van Phong seaport, directly serving the EZ, will have a general wharf and a specialized one for bulk, liquid and gaseous cargo. It will be able to receive breakbulk vessels of up to 100,000 tons, bulk cargo ships of 300,000 tons, liquid/gaseous cargo ships of 150,000 tons and cruise ships of 50,000-80,000 GT.
A civil airport is also planned on an area of 500-550 hectares in Van Ninh district’s Van Thang commune.
Khanh Hoa plans to attract billions of dollars into 27 major projects in Van Phong Economic Zone in the 2023-2024 period. In June, the National Assembly, the country's highest legislative body, issued a resolution on distinct mechanisms and policies for Khanh Hoa to be implemented on a pilot basis to attract only mega projects.
The Van Phong Economic Zone has so far attracted 155 projects with a total registered capital of $4.1 billion, including 30 foreign-invested ones, according to its management board. Disbursed investment capital has reached $2.5 billion, with 97 operational projects.