Deputy Prime Minister Tran Hong Ha has signed a decision approving adjustments to planning for the development of the Van Phong Economic Zone (EZ) in south-central Khanh Hoa province by 2040 with a vision to 2050.

Under the plan, the EZ will cover an area of around 150,000 ha, including over 79,100 ha of land and more than 70,800 ha of islands.

The zone includes an international container port, an oil refinery, and a point of transit for petroleum and petroleum products. It also caters to tourism, services, industry, aquaculture, and other economic sectors.

Van Phong serves as an economic center of Khanh Hoa province, an investment magnet and a driving force for economic development in neighboring areas.

By 2050, the EZ is expected to become a dynamic, competitive, smart, and sustainable maritime economic hub that not only facilitates socio-economic growth but also helps ensure national defense and security, contributing to developing Vietnam into a prosperous country in terms of maritime economy.

It is also planned to become a center of the south-central region and the central highlands in the marine economy, high-tech industry, innovation, vocational training, and quality healthcare services, as well as a gateway for boosting the regions’ exchanges with the world.