The central coastal province of Khanh Hoa has seen considerable development in recent times, which is partly attributable to its three sea bays – Nha Trang, Cam Ranh and Van Phong. Nha Trang Bay has made the city of the same name famous for tourism and as such, become the centre of Khanh Hoa Province. Meanwhile, Cam Ranh Bay plays an important role in terms of national defence and security. Furthermore, the northern Cam Ranh peninsula tourism area is also making strides towards becoming a national tourism site. Located in the north of Khanh Hoa, Van Phong Bay has become a key economic zone of the locality. However, its impact on local economic development remains limited. Hoang Dinh Phi, head of the management board of the Van Phong Economic Zone, said the area has attracted more than 150 investment projects with total registered capital exceeding US$4 billion. Of these, 42 projects have specialised in shipbuilding, seaport construction, aquaculture, and tourism services. The zone contributes about VND4.8 trillion ($206.4 million) to the State budget each year, generating stable jobs for over 6,000 labourers, Phi said, citing several outstanding projects such as Hyundai Vinashin and the Ninh Thuy Industrial Park. However, most of the projects are located in the south of Van Phong Bay, leaving room for potential as the strength of the bay’s northern side remains untapped. With 46,000ha of water surface area and an average depth of 20-30m, Van Phong Bay boasts several favourable conditions for the development of international… [Read full story]
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