The Van Phong Economic Zone (EZ), a convergence of strategic vision, exceptional potential and an aspiration to reach the wider seas, is steadily affirming its place on the map of the maritime economy, ushering in a new era of development for both the province and the country.
Infrastructure — the key to unlocking development
The master plan for the construction of Van Phong EZ to 2040, with a vision to 2050, approved by the Prime Minister in March 2023, sets out a development outlook full of promise for this area endowed with abundant natural advantages. Under the plan, northern Van Phong is oriented towards becoming a modern coastal tourism city, a centre of finance, commerce and services, and a free-trade zone. Meanwhile, the southern corridor of Van Phong will develop into a centre for industry, energy, and logistics linked to the deep-water port system, alongside a chain of modern and sustainable coastal urban-service areas.
To realise this vision, Khanh Hoa Province is mobilising investment resources to complete inter-regional and inter-port transport links connecting Van Phong with key economic areas. Strategic routes such as the Van Phong-Nha Trang section of the North-South Expressway, the Van Gia-Tu Bong-Dam Mon coastal road, together with the upgraded National Highway 1A and the renovated North-South railway, will form an interconnected transport network that shortens travel distances, enhances logistics capacity and attracts investment to the zone.
Khanh Hoa Vice Chairman Tran Hoa Nam affirmed that infrastructure is regarded as the cornerstone for attracting investment capital, the key that opens the way for development. Once the strategic transport routes are completed, Van Phong International Port will fully assume its role as the gateway linking Viet Nam’s maritime trade with the region and the world.
Alongside transport development, electricity and water supply networks, telecommunications and urban infrastructure within functional areas of the EZ are being synchronously planned. Local authorities are proactively working with ministries and central agencies to implement key public-investment projects, while also promoting public-private partnerships (PPP) to mobilise maximum social resources for technical infrastructure, seaports, renewable energy, and resettlement areas.
Based on the approved plan, Khanh Hoa is actively clearing land and finalising legal procedures for zoning plans to be ready to welcome strategic investors. According to Nguyen Thanh Phu, Director of the Provincial Department of Construction, by 2026 the key zoning plans will be essentially completed, creating a solid legal foundation and favourable land reserves for selecting and calling on strategic investors with strong financial capacity and experience in major project implementation. In particular, the planned inclusion of Van Phong Airport in the national airport network will be a major driver for Van Phong to take off.
Le Hong Phuong, Deputy Director of the Provincial EZ and Industrial Zones Authority, noted that this plan lays the groundwork for developing a modern, green and globally integrated economic zone. With strategic infrastructure built in a methodical manner, Van Phong will not only become a destination for major investors in seaports, logistics and heavy industry, but also an international centre for services, tourism and coastal urban development.
To date, Van Phong EZ has attracted more than 150 investment projects with total registered capital of around 5.4 billion USD. Among them, several large-scale projects are already in operation, generating economic value and jobs for local residents, such as: Van Phong 1 Thermal Power Plant (2.58 billion USD), HD Hyundai Viet Nam Shipbuilding Factory (350 million USD), and the Australis Viet Nam Limited project (68.19 million USD). These projects not only contribute to industrial growth but also create spillover momentum, fostering the formation of logistics value chains and supporting services in the surrounding area.
Notably, in 2025, two major strategic urban mega-projects approved by the Prime Minister for investment are expected to provide a fresh impetus for Van Phong: the high-end Tu Bong New Urban Area (over 43 trillion VND), planned as the northern Van Phong coastal urban centre; and the high-end Dam Mon Urban Area (over 25.6 trillion VND), conceived as a core urban hub associated with international commerce, tourism and finance.
In addition, a series of large-scale tourism and service projects such as the Hon Ngang Ecotourism Area, the Co Ma Urban Area and the Doc Let-Phuong Mai Tourism Area are being promoted, contributing to the development of a modern, civilised and well-connected chain of coastal urban areas. Social infrastructure, resettlement areas, education and healthcare facilities are also being synchronously invested in to ensure social welfare for residents and the local workforce.
Realising the aspiration to reach the wider seas
In line with the Politburo’s Resolution on building and developing Khanh Hoa Province to 2030 with a vision to 2045, the province is allowed to apply special mechanisms and policies in finance, investment, land management, administrative organisation and decentralisation. This is an important legal foundation for Khanh Hoa to mobilise maximum resources to develop Van Phong EZ into a new growth pole of the south central coastal region.
The province is prioritising resources for three major pillars: developing strategic infrastructure (including seaports, logistics, industrial zones, urban areas and renewable energy); accelerating administrative reform and digital transformation in investment management to shorten licensing procedures and ensure planning transparency; and speeding up land clearance to create clean land reserves for major projects, particularly in clean industry, high technology, green energy, and eco-tourism.
Khanh Hoa Vice Chairman Tran Hoa Nam emphasised that, alongside improving technical infrastructure, Khanh Hoa is focusing on enhancing the investment environment, raising its provincial competitiveness index (PCI) ranking, shortening the processing time for administrative procedures and creating trust, and convenience for businesses.
The province remains steadfast in its commitment to accompany investors, promptly addressing difficulties and obstacles, especially in compensation, land clearance, land, and construction investment procedures.
Khanh Hoa Party Secretary Nghiem Xuan Thanh stated that the province is determined to build Van Phong into a symbol of dynamic, integrated and sustainable development. The province will work closely with businesses to ensure progress and quality in key projects, building a transparent, favourable, and safe investment environment.
At the same time, the province is giving particular attention to sustainable development linked with environmental protection, implementing climate-change adaptation measures, promoting the green economy, circular economy, clean energy, and carbon reduction.
Businesses are encouraged to apply advanced science and technology in production, management and operation of the EZ, with the aim of making Van Phong a leading green, smart, and environmentally friendly economic zone in Viet Nam.
Under the set targets, by 2030 Van Phong EZ will be among the country’s top three economic zones, making an important contribution to the economy of the province and the wider region. With a vision to 2050, it is set to become an internationally scaled maritime economic centre, playing a leading role in Khanh Hoa’s development strategy and becoming Viet Nam’s marine economic hub.
