The central province Thanh Hoa is implementing a number of measures toboost domestic investment in the Nghi Son Economic Zone (EZ).

The province has spent 500 billion VND (23.3 million USD) more in the zone’s infrastructure.

The monitoring and management of the projects operating in the EZ havebeen improved in order to ensure effective implementation.

The province has also initiated the reform of administrativeprocesses, while mobilising a broad range of resources to attract moreinvestments.

The zone is now home to 134 projects,including 124 domestic projects, with a total registered investment of96.9 trillion VND (4.5 billion USD).

The majority ofprojects are operating effectively, contributing to local economicdevelopment and creating jobs for thousands of local residents.

However, the management board has withdrawn the licences of 22 delayedprojects, worth more than 7 trillion VND (335 million USD) in total.

The Nghi Son EZ covers an area of more than 18,600ha.It focuses on heavy industry, basic industry and the Nghi Son seaport.

In 2014, the zone attracted 41 newdomestic projects with a total registered capital of over 3.1 trillionVND (145.7 million USD), and three foreign investment projects worth40.5 million USD. That same year, the zone generated 18 trillion VND(846 million USD) in revenue and created jobs for around 63,000 workers.

The zone also houses the Nghi Son Oil Refineryand Petrochemical Complex (NSRP), the largest of its kind in SoutheastAsia and the biggest FDI project in Vietnam with a capital investment ofmore than 9 billion USD.

So far, 28 percent of the NSRP project have been completed, with 33.3 trillion VND (1.5 billion USD) disbursed already.-VNA