North central, central coastal regions welcome projects worth billions of USD

A corner of Danang city, central Vietnam. Photo courtesy of Agoda

North central, central coastal regions welcome projects worth billions of USD

By Tri Duc

Tue, February 7, 2023 | 9:58 pm GTM+7

Many mega investment projects in Vietnam’s north-central and central coastal regions received approval from local authorities on Sunday.

At a conference on the socioeconomic development of these regions until 2030, with a vision to 2045, the provinces of Binh Dinh, Phu Yen, Ninh Thuan, Quang Ngai, Thanh Hoa, Nghe An, Quang Binh and Binh Thuan and Danang city delivered in-principle approvals and investment certificates to some investors.

Binh Dinh granted in-principle approvals to three projects. They are the Long Son Hoai Nhon steel complex worth VND56,257 billion ($2.39 billion) with an annual capacity of 5.4 million tons; IT service provider FPT Software’s VND2 trillion ($85.28 million) technological training, production and research center; and private firm Kamado JSC’s VND998 billion ($42.41 million) granite tile factory.

Phu Yen gave an in-principle approval to the Quang Minh Investment Development Husbandry Technology JSC for a high-tech livestock project worth VND795 billion ($32 million). This was the only agricultural project at the event.

Ninh Thuan delivered an in-principle approval to local firm TSG Investment and Construction JSC to build the Song Dinh new urban area worth VND1,713 billion ($72.79 million).

Quang Ngai granted an registration certificate to the Sembcorp Infra Services Quang Ngai to build its $17.1 million SIS Quang Ngai warehouse; an in-principle approval to Hoa Phat Dung Quat Steel JSC to build the Hoa Phat Dung Quat rolled steel factory worth VND3,200 billion ($135.98 million); and a memorandum of understanding (MoU) on the $270 million VSIP II Quang Ngai industrial park-urban area to VSIP Quang Ngai Co. Ltd.

Danang city approved three projects worth a total VND6 trillion ($254.97 million). They included a $50 million solar cell factory to local company CRC Solar Cell JSC; a VND454 billion ($19.29 million) stem cell research, development, and storage center to private firm Asia High Tech JSC; and a bundle of projects for telecom giant Viettel, including an automation center, Viettel Danang office, 5G deployment, data center, training-research-development center, and others.

Thanh Hoa provided relevant documents to three projects, namely the VND2,400 billion ($101.99 million) Dong Vang Industrial Park in Nghi Son Economic Zone, the VND3,046 billion ($129.44 million) Sam Son urban area and commercial center in Sam Son town, and the VND6,433 billion ($273.37 million) infrastructure development in the Industrial Park No. 17 in Nghi Son Economic Zone.

Nghe An handed over an MoU to Indochina Kajima Capital for a $50 million industrial real estate project featuring ready-built warehouse and ready-built factory in Dong Nam Economic Zone, and an in-principle approval to Luxshare-ICT to build a $150 million electronics factory.

Quang Binh delivered in-principle approvals to the $54.6 million BT2 wind farm-phase 2 project of local BT3 Windfarm JSC, and the VND1.8 trillion ($76.49 million) Hadaland Bao Ninh Green City urban area project of local business Hadaland Development And Investment Company Limited.

American energy corporation AES officially received an in-principle approval for its 2.25-gigawatt Son My 2 combined cycle gas turbine power plant in Binh Thuan province from Minister of Industry and Trade Nguyen Hong Dien.

Also at the event, the Ministry of Planning and Investment signed with seven international partners to support 45 development projects worth $1.7 billion.

The ministry signed memoranda of understanding, cooperation agreements, and letters of intent for development projects with the Asian Development Bank (ADB), the Agence Francaise de Developpement (AFD), the International Fund for Agricultural Development (IFAD), the Japan International Cooperation Agency (JICA), the Export-Import Bank of Korea (Eximbank), the Korea International Cooperation Agency (KOICA), and the World Bank (WB).

https://theinvestor.vn/north-central-central-coastal-regions-welcome-projects-worth-billions-of-usd-d3611.html