Investment of 70,2 billion USD “poured” into Van Don Economic Zone

According to the master plan, by 2050, the total GRDP of Van Don Economic Zone will reach over 21.898 billion USD; GRDP per capita will reach 43.688 USD; and the population size is about 501.000 people. According to the People’s Committee of Quang Ninh province, based on the development scenarios and growth rate of capital output of the industry and the GRDP growth required, the total investment capital demand is expected to be approximately 70.2 billion USD between 2018 and 2050.

The Ministry of Planning and Investment has just sent an express dispatch to ministries and sectors to collect ideas on the Master Plan for Socio-Economic Development of Van Don Economic Zone by 2030 with a vision to 2050.

According to the content of the official dispatch, in order to promptly evaluate and submit to the Prime Minister for consideration and approval for the planning of Van Don Economic Zone, the Ministry of Planning and Investment requests Ministries to appoint leaders to participate in the Planning Evaluation Council, give and submit comments in writing on the plan.

Earlier, the People's Committee of Quang Ninh province submitted a document to the Prime Minister and the Ministry of Planning and Investment about the socio-economic development master plan of Van Don Economic Zone for approval in the direction of a Special Administrative – Economic Unit in the near future.

According to the plan, Van Don Economic Zone is targeting becoming a green, smart and modern island urban area; an economic and cultural center with a focus on logistics, high-end tourism and modern entertainment. It will have a casino and a center for start-ups and international trade in the China-ASEAN Economic Corridor.

By 2030, Van Don Economic Zone will have sustainable social and economic foundations. It would be a global center of investment and high-quality human resources, and become one of the economic engines of Vietnam, as well as one of the most livable cities in the Asia-Pacific region by 2050.

Specifically, the Van Don EZ would reach total GRDP of 1.981 billion USD and GRDP per capita of 12.242 USD in 2030, which would be four times higher than the expectations in 2020.

Regarding social targets, by 2030, there will be about 106,000 jobs, including 37,000 jobs in the tourism sector; 7,000 jobs in service, cultural and creative sectors; 14,000 in production and logistics and 48,000 in other sectors.

Regarding environmental targets, by 2030, 100% of commune-level administrative units will have a waste collection department to collect completely 100% of medical waste and domestic solid waste with a forest cover rate of 60%.

Van Don EZ is expected to become one of the most famous cities in the world and a gateway to the North of Vietnam, as a driving force for the development of the whole country. By 2050, the GRDP would reach over 21.898 billion USD and GRDP per capita would be 43,688 USD with a population of 501.000 people.

The master plan also said the Van Don Economic Zone would base its growth on three main pillars of tourism, cultural services and innovation, and production and logistics. These sectors would contribute 82,1% of its total GRDP and 70% of its jobs by 2050.

Particularly for tourism development, Van Don targets developing high-class eco-tourism and culture tourism. In which, it is worth noting that Van Don plans to develop casino entertainment services, 3-5 star hotels, spiritual tourism and marine tourism packages from affordable level to high-end level.

In addition, Van Don Economic Zone will focus on developing aviation transport and logistics to become a logistics hub, developing film production, garment, retail services, banking and financial services…

Another noteworthy point is that Van Don Economic Zone will orient the development of infrastructure. Accordingly, Van Don targeted building helipads (helicopter taxi) in Cai Bau, Quan Lan and Thang Loi islands. Meanwhile, it would develop and build a type of seaplane to serve tourism and goods transport, suitable to the topography of Van Don Economic Zone.

Regarding roads, Van Tien Bridge will be built to connect the Van Don Economic Zone with Tien Yen Economic Zone, near the Mui Chua port, within the national road network (National Highway 4B). Along with the construction of the Ha Long - Mong Cai expressway, the Ha Long - Van Don expressway will be also completed. In the period beyond 2050, a high-speed railway will be built to connect Van Don Economic Zone with other regions both inside and outside the country.

Regarding the elevated railway, it will also build a metro line in the 2030-2050 period to connect functional areas on Cai Bau island.

According to the People’s Committee of Quang Ninh province, based on the development scenarios and growth rate of capital output of the industry and the GRDP growth required, the total investment capital demand is expected to be approximately 70.2 billion USD between 2018 and 2050.

According to the master plan of the People's Committee of Quang Ninh province, Van Don Economic Zone will use policies to mobilize investment capital and promote investment.

Specifically, investment capital will be mobilized from private sources and the national budget, as well as foreign investment capital, and capital from land. Sun Group is considered a strategic investor in the construction of Van Don international airport. Other investors consist of FLC, CEO, MBland, Crystal Bay and HD Mon…

Regarding investment promotion policy, raising awareness about the business environment and improving investment promotion with the government is the driving factor.

By Vietnamfinance