The South Phu Yen Economic Zone (EZ) and industrial parks (IPs) in the provincial eastern area are emerging as key destinations for large-scale industrial, logistics, seaport combined with high-tech investment projects, creating a major growth driver for the provincial economy.
Increasing appeal to strategic investors
According to the Phu Yen EZ Management Board, since the beginning of the year, the South Phu Yen EZ and IPs in the provincial eastern area have attracted seven new projects, including one expansion project, along with four adjusted projects, with total registered capital exceeding 2 trillion VND.
 |
| Delegation from the UAE Embassy in Vietnam conducting a site survey at Bai Goc Port area, South Phu Yen Economic Zone. |
Beyond projects already granted investment policy approval, a number of major investors are continuing to explore new opportunities in the South Phu Yen EZ. Notable proposals include infrastructure investment projects for Hoa Xuan Tay IP and Hoa Xuan Dong IP, as well as a salt refining and seawater products production complex.
In particular, the Becamex - VSIP consortium is studying an IP - urban area - service complex spanning approximately 1,920ha. Simultaneously, key projects such as Hoa Tam IP Phase 1, Bai Goc Port, alongside Phu Yen High-Tech IP are expediting investment procedures and site clearance.
As one of the investors currently implementing a major project in the South Phu Yen EZ, Mr. Ho Duc Tho, Director of Hoa Phat Phu Yen Steel JSC, said: “We believe the South Phu Yen EZ possesses necessary conditions for steel production and industrial infrastructure projects”.
Accompanying investors
According to the leadership of Phu Yen EZ Management Board, alongside investment promotion activities, the board regards supporting investors throughout the project implementation as a core task. Investors are entitled to attractive incentives related to taxation, land and investment support in accordance with Government regulations.
The Phu Yen EZ Management Board has reduced administrative procedures (APs) by 30% to facilitate investment along with business activities. It has also coordinated with relevant departments, sectors and local authorities to promptly address difficulties, obstacles together with recommendations raised by investors, thereby accelerating the implementation of several strategic projects within the EZ.
 |
| Leaders of Phu Yen Economic Zone Management Board presenting investment policy approval decisions and investment registration certificates to enterprises along with investors. |
Concurrently, the board is focusing on completing subdivision planning. To date, the PPC has approved the preparation of nine subdivision plans covering nearly 4,862ha. Among them, four plans have been approved, while four others are being finalised and submitted for appraisal.
According to comrade Huynh Lu Tan, Member of the Provincial Party Standing Committee and Head of the Phu Yen EZ Management Board, the board is prioritising administrative reform as well as proactively coordinating with departments, sectors and local authorities to remove obstacles facing enterprises. The target for 2026 is to increase AP reductions to 50%.
“Key projects such as Hoa Tam IP - Phase 1, Bai Goc Port together with Phu Yen High-Tech IP are being closely monitored to accelerate implementation. These projects will establish the foundation for a modern industrial, logistics and service ecosystem in the future, positioning the South Phu Yen EZ as an attractive destination for both domestic coupled with international investors,” comrade Huynh Lu Tan said.
| To date, the South Phu Yen EZ and IPs in the provincial eastern area have attracted 133 projects with total registered capital exceeding 33 trillion VND alongside 58.57 million USD. The average occupancy rate at the five operating IPs has reached approximately 92%. |
Translated by KHUONG THAO
