Central coastal province: register FDI hits 13 billion USD

The central coastal province of Phu Yen has close to 13 billion USD in foreign direct investment registered in 2007.

After holding a conference on the locality’s potential for investment cooperation in Singapore , the provincial authorities received 22 delegations of foreign businesses who came to seek investment opportunities.

The SP Chemical Company of Singapore was the largest investor in Phu Yen as it has committed 11 billion USD for a project to build infrastructure facilities for the Naphtha Cracking Hoa Tam Petrochemical Industrial Complex in Dong Hoa district.

The Technostar Management Ltd of the UK and the Telloil of Russia have teamed up to launch a project to build the Vung Ro Oil Refinery Plant which is capitalised at 1.7 billion USD also in Dong Hoa district.

Phu Yen is expected to see the realisation of a host of projects with the US Texas BH company as both sides signed a memorandum of understanding to this effect.

These projects include Phu Sen mineral water plant and resorts, hotel services and villas on Doc Lap street , supermarkets and residence-office building in Tuy Hoa city.

In addition, the province has asked the Government for permission to develop a luxury tourism complex which will have a casino. (VNA).