Phu Yen Province urged to tap its economic potential

Phu Yen is experiencing rapid economic growth, and holds great potential for developing tourism and its economy, said Deputy Prime Minister Nguyen Sinh Hung at a conference in Hanoi October 7 on tourism and investment promotion in 2009.
Mr Hung called on local and foreign businesses to invest more in the central region, including the south-central province of Phu Yen.
Chairman of the Phu Yen Provincial People’s Committee, Pham Ngoc Chi, said that in recent years, Phu Yen has attracted more than 285 projects, with a total registered capital of VND16.645 billion and US$7.9 billion, including 33 foreign-invested projects. In addition, many large projects are expected to be got underway in the province this year, such as the Vung Ro oil refinery plant and a high-class tourism complex. Phu Yen currently ranks seventh out of the country’s top ten localities in terms of attracting foreign investment.
Over the past 10 years, Phu Yen has recorded an average economic growth rate of more than 10 percent per annum and the figure is expected to rise to 12.8 percent in 2010, he said.
Mr Chi called for more investment in the fields of petro-chemicals, seafood processing, mineral exploration, aquaculture development, hydro-electricity, transport, healthcare and education. He also pledged to create the best possible conditions for investors and provide them with incentive policies.
Speaking at the conference, Deputy General Director of the Vietnam Aviation Corporation, Duong Tri Nhan, announced a plan to open a direct flight from Hanoi to Tuy Hoa-Hanoi from October 24 with three flights per week. Mr Thanh hopes that this will help Phu Yen to connect with the two largest socio-economic, political and cultural centres, namely Hanoi and Ho Chi Minh City..