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KHANH HOA ECONOMIC DEVELOPMENT IMPETUS OF SOUTHERN CENTRAL VIETNAM
A DYNAMIC DEVELOPING ECONOMY
The socio-economic setting of Khanh Hoa has been assuming continual development in the past few years, with a 10% increase in the GDP growth rate; the average income per capita reaching USD 670 in 2004; budget collection reaching VND 3,036 billion in 2004; all aking Khanh Hoa one of the provinces able to balance its own budget. The economic structure has obtained a shift towards increasing the ratio of tourist services and industrial production, with a fast increase of tourism. In 2004, industrial production made up 40.75% and tourist services
39.5% of the GDP. Since 2000, Khanh Hoa’s industrial sectors has been heading the whole country and maintaining a growth rate of 20%. The technical-economic infrastructure has received proper investments and assumed steady development.
The cultural and social sectors have also received proper attention and have had considerable development. Three landmarks prove to be noteworthy in the economic development of Khanh Hoa province: (1) Cam Ranh airport officially put into operation on May 19, 2003 with the permission from the Government; (2) the Government’s approval of the plan for the northern area of Cam Ranh peninsula to be developed into a national and international area of tourist service-trade-finance (with about 52 projects already invested into the area); and (3) the Government’s approval of the development of Van Phong economic area, in which the international container transshipment port will play a leading role, combined with the development of a multi-sectored economy.
Khanh Hoa has planned the development of 5 industrial zones with areas of more than 150 ha each and a number of medium and small scale (less than 50 ha).
Among these, Suoi Dau IZ (172 ha) has entered into operation and the IZ’s infrastructure has been completed with the center of wastewater treatment, the system of treating clean water, power and water supply systems, communication systems. Suoi Dau IZ is ready to receive further investments. Taiwanese, Russian, American, Thai, and French partners have invested into Suoi Dau IZ in such fields as aquaproduct processing, aquaproduct feed processing, handicrafts and artifacts, etc. and enjoyed stable advances. Ninh Thuy IZ is now under construction and preparations have been made for the building of other IZs such as Southern Cam Ranh, Northern Cam Ranh, Van Ninh, Dac Loc and Dien Phu. These will be the basis for attracting new investments. In Khanh Hoa, there are presently about 2,100 enterprises and some 30,500 trading households who are now operating under registration.
Besides, in Khanh Hoa there are 50 foreign direct investment (FDI) projects with atotal registered capital of USD 375.2 million, of which USD 281.2 million has been implemented. Major projects including Huyndai-Vinashin Shipyard, Rusalka Resort, Yasaka-Saigon-Nha Trang Hotel … have contributed to enriching the investment source in the province.
* OVERVIEW OF KHANH HOA
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2. KHANH HOA ECONOMIC DEVELOPMENT IMPETUS OF SOUTHERN CENTRAL VIETNAM
3. ORIENTATION OF SOCIO-ECONOMIC DEVELOPMENT
4. INDUSTRIAL ZONES IN KHANH HOA
5. PRIORITY POLICIES FOR INVESTMENT IN KHANH HOA
