The province has licensed 29 of these projects with a total registered capital of US$6.3 billion. It has also made clear its investment policy concerning 84 projects whose registered capital hit more than US$7.84 billion. In the first six months of this year, Phu Yen licensed six projects capitalized at US$4.4 billion and approved 24 other projects with a total investment of US$330 million.

The prime minister has also allowed the Sama Dubai group from the United Arab Emirates to prepare proposals for three major projects including an airport, a resort and a highway linking the airport to the resort.

Phu Yen now has 18 foreign- and 16 domestic-invested projects with a total capital of US$348 million.

Construction of the Vung Ro oil refinery worth US$1.7 billion will begin in the fourth quarter of this year.