The special zone in the north of the Van Phong Economic Zone will cover an area of 66,000 hectares, the provincial authorities said. It is expected to become an international hub of seaport, financial, tourism, medical and educational services.
Late last year, the Vietnamese government decided to build three special administrative-economic zones, including Bac Van Phong in Khanh Hoa, Van Don in Quang Ninh province, and Phu Quoc in southern Kien Giang province.
Khanh Hoa leaders suggested a law be drafted for the three special zones. The draft should be submitted to Vietnam's top legislature for approval in 2018.