Vung Ang EZ attracts 79 projects worth $16 billion

The Vung Ang Economic Zone in the central Ha Tinh Province has attracted 79 projects with registered capital totalling over US$16 billion to date.

Goods are being loaded for export at Vung Ang Port in central Ha Tinh Province. More than $16 billion from 79 projects has been poured into the Vung Ang Economic Zone. VNA/VNS Photo Ha Thai

According to Ho Anh Tuan, head of the zone, these 79 projects include 44 domestic and 35 foreign invested ones.

In the first seven months of 2013, investment licences were granted for 14 projects in the zone with total capital of more than $500 million.

One of the largest projects in the zone aims to build a $10 billion steel factory and sea port invested by Formosa Heavy Industries Corporation from Taiwan, China.

Firms based in the zone have so far created over 15,000 jobs with an average salary of VND4.5-5.5 million ($212- 260) per month.

Vung Ang EZ, one of the country's five key coastal economic zones, was founded in 2006, covering an area of 22.78ha in Ky Anh District.

Source VNS