Nhoi Hoi Economic Zone will be turned into a modern zone with multiple sectors and fields for sustainable development. However, since the zone was established in 2005, investment activities have been below expectations despite the province’s big efforts to ameliorate the business climate to woo investors.
Binh Dinh People’s Committee recently hosted a workshop to seek comments from economists, policy-makers and relevant industry insiders about how to make Nhon Hoi more appealing to investors.
According to Institute of World Economics and Politics chairman Vo Dai Luoc, Nhon Hoi EZ was not close to any big airport or seaport and did not offer convenient connections to major highways.
“The province would hardly attract big manufacturers,” said Luoc.
Economist Tran Du Lich said Binh Dinh should stop titanium extraction to focus on economic zone development and join hands with other neighbouring provinces to build a comprehensive inter-regional transport network.
The planned Nhon Hoi EZ covers 12,000 hectares, of which non-tariff zone eats up 520ha, a tariff zone 1,324ha, the clean industry area 75ha, a wind power area 283ha, green tree and urban areas 3,480ha, according to Nhon Hoi EZ’s 2005-2010 investment review report compiled by the provincial people’s committee.
The report also read that more than 100 investors came to the zone to source business opportunities in the past years.
Provincial authorities licenced 33 projects to invest in Nhon Hoi with a total committed capital of VND33.544 trillion ($1.62 billion), including five foreign direct investment projects worth $495.7 million. Disbursed capital at the zone came to VND1.5 trillion ($75 million) by the end of 2010.
VIR