Van Phong and five other industrial parks, namely Suoi Dau, Nam Cam Ranh, Bac Cam Ranh, Ninh Thuy, and Van Thang, form the driving force for socio-economic development of the central province of Khanh Hoa as well as the Southern Central Region.

The economic zone management board has offered a number of preferential policies to lure investments into the EZ.

Accordingly, investors have to pay a corporate tax of 10 per cent in the first 15 years of operation. This corporate tax level is especially fixed for high-tech projects.

The Van Phong economic zone groups an international container transit seaport, a petroleum-chemistry complex, an electricity center, a petroleum industrial service section, an urban area and other facilities.