Although Vietnam initially decided to build only three oil refineries, two are about to be built and others are under construction, while several more are awaiting licenses.
A US$3.2 billion oil refinery project of the UK Technostar Management Ltd in Vung Ro is set to get off the ground in central Phu Yen province on September 9.
Along with projects worth billions of US dollars, such as the Nghi Son, Long Son and Vung Ro oil refineries, work on a series of other large-scale projects for LG and Samsung has begun.
Vung Ro oil refinery project, with nearly US$3.2 billion investment from the UK's Technostar Management Ltd, is expected to begin in August, according to People's Committee of the central coastal Phu Yen Province.
Many foreign-invested projects worth billions of US dollars moved ahead in the first quarter 2014.
In 2013, the provinces in the central region attracted 66 foreign-invested projects worth $1.
Central provinces have attracted 66 new FDI projects capitalized at nearly US$1.5 billion, bringing the total amount of investment capital to US$25.