Hòa Phát Group plans to invest in the Nam Phú Yên Economic Zone with a total capital of VND 120 trillion (about USD 5 billion). This project includes the construction of a steel plant to serve the North-South high-speed railway, along with facilities like Bai Goc Port and Hòa Tâm Industrial Park covering 1,115 hectares. These projects are expected to create 20,000 jobs and contribute VND 10 trillion annually to the local budget. The group is also researching Bai Goc Port with an investment of VND 24 trillion to serve the steel and oil refining plants. Despite the area’s high development potential due to maritime transport advantages, a previous company abandoned a refinery project here, leaving much land undeveloped. The local government has compensated residents to clear land for new projects.
Leave a Reply