Phu Yen lures in $1.56 billion in large projects in 2019

08:00 | 31/12/2019
In 2019, the central province of Phu Yen attracted 15 large-scale projects, including eight projects proposed by private enterprises and seven state-owned projects.
phu yen lures in 156 billion in large projects in 2019
Phu Yen welcomed eight private sector projects and seven state projects in 2019

The value of the eight projects is estimated at VND35.7 trillion ($1.55 billion), while the seven state-owned projects carry the price tag of VND7.64 trillion ($332.17 million). These projects, which are in the sectors of infrastructure, education, tourism, and industry, are expected to contribute a large part to the socio-economic development of the province.

According to statistics published by the management board of Phu Yen Economic Zone (EZ), last year, the EZ welcomed eight projects with a total registered capital of VND71 billion ($7.08 million), increasing the total to 110 projects with the total land area of 416 hectares and total registered capital of VND11.35 billion ($494,347).

As of now, 75 of these 110 projects are in operation, while the 35 remaining projects are completing procedures. These enterprises paid VND132 billion ($5.73 million) into the province’s budget and generated 8,029 jobs.

During the past year, the province organised numerous local and overseas investment promotion programmes. Especially, in 2019, Phu Yen organised the Pacific Partnership 2019 for the first time.

In November, the Phu Yen People’s Committee called for the World Bank’s provision of official development assistance (ODA) to support the implementation of four projects with a total investment of about $70 million.

Phu Yen also called for the World Bank’s soft loans for investment in two other projects with a total capital of over VND1 trillion ($43.4 million), including the embankment from An Chan commune in Tuy An district to An Phu commune in Tuy Hoa city and coastal tourism road from Phu Hoi Village in Tuy An district to National Highway No.1.

By Ha Vy

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