QUANG YEN COASTAL ECONOMIC ZONE SET UP

Deputy Prime Minister Trinh Dinh Dung has signed a Decision on establishment of Quang Yen Coastal Economic Zone in the Northern province of Quang Ninh.

Located in the Southwest of the province, the economic zone covers a total area of 13,303 hectares, including over 6,400 hectares for urban, high-tech subzone and nearly a 6,900-hectare subzone for seaport services.

The zone was established to enhance economic, trade and service connectivity with other economic zones such as Van Don, Dinh Vu-Cat Hai and Thai Binh and promote economic links between the economic zones and neighboring areas.

Investment attraction to the economic zone must be combined with ensuring national defense and security as well as preservation and promotion of the values of marine ecosystems, historical and cultural relics in the area.

The development of the economic zone will be divided into three investment phases, with the first one from 2020-2021 involving construction of fundamental infrastructure for projects.

In the subsequent phases from 2021-2035, functional subzones and infrastructure will be developed synchronously towards a smart urban area.

So far, the Government has decided to set up 19 economic zones with total area of 743,853 hectares, according to the Ministry of Planning and Investment.

Source: VGP

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