Special mechanism applied for key projects in Vũng Áng EZ
VGP – The PM just allowed the application of special mechanisms in mobilizing, managing and using investment capital for infrastructure construction in the Vũng Áng Economic Zone of the central province of Hà Tĩnh.
The
Government chief agreed that major project in the EZ will enjoy money from the
State budget to upgrade technical infrastructure and facilitate the work of site
clearance and resettlement.
Vũng
Áng Economic Zone can become an industrial, tourism and service city
With the permission of the
NA Standing Committee, the large-scale infrastructure projects can receive
governmental bond capital.
The Government chief also allowed
the use of ODA capital for important infrastructure projects which should be
financed by the local budget. The central budget will provide the entire
counterpart financing for these projects.
The local government is
permitted to issue local governmental bonds or take legal loans, including
foreign ones, to invest in key projects.
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Vũng Áng Economic Zone
was founded under the PM’s Decision 72/2006/QĐ-TTg dated on April 3, 2006. It
covers 22,781 ha of nine communes in the southern part of Kỳ Anh District of Hà
Tĩnh Province. The EZ possesses the deep-water port Vũng Áng-Sơn Dương which
can receive 50,000-250,000 ton ships. The EZ is the
concentration of many large projects, including the Sơn Dương Steel Complex
and Seaport (nearly US $8 billion), Thermo-electricity Plant Vũng Áng I (US $1.2
billion), and Hồ Tàu Voi Tourism Area (US $70 million). |
