Binh Dinh province attracts major projects in end-2022

Binh Dinh province has approved in principle two major projects with registered capital of VND1.4 trillion ($58.73 million).

The south-central province okayed Kamado JSC's project to build a VND998.6 billion ($42 million) granite tile factory.

The 21.9-hectare plant in the Binh Nghi Industrial Cluster, Tay Son district has a capacity of 18 million square meters of products per year with 800 staff. It is expected to become operational in September 2024 and has a duration of 50 years.

The province also approved for Sai Gon-Phu Yen Bridges Construction Investment JSC to build the VND405 billion ($17 million) Green Quy Nhon hotel and tourism apartment project in Le Loi ward, Quy Nhon town. The 4-star facility will have 23 floors, including three underground.

Construction of the 1,271-square meter project is set to begin in the second quarter of next year and complete in the last quarter of 2025. Its duration is until end-2059.

Provincial authorities said that 12 months after the in-principle approval, if the investors fail to meet the registered progress without justifying reasons, the projects would be revoked.

Last month, at Binh Dinh’s investment promotion conference for German businesses, wind farm developer PNE AG signed a memorandum of understanding with provincial authorities to develop a $4.6 billion, 2-gigawatt offshore wind power project in the south-central province.

In October 2020, the Binh Dinh People’s Committee allowed PNE to make offshore wind surveys in the districts of Phu Cat and Phu My. The German company proposed developing a 2 GW offshore project with 154-166 wind turbines of both floating and bottom-fixed types. Development will see three phases, with 700 MW in 2025, another 700 MW in 2026, and the last 600 MW in 2027.

Secretary of Binh Dinh's Party Committee Ho Quoc Dung said the province plans seven industrial parks. Besides, Nhon Hoi Economic Zone has 14,000 hectares of clean areas for handing over to investors, he noted.

Binh Dinh province’s key advantages are a large area of 6,071 square kilometers and a long coast of 110 kilometers. It is the eastern gateway to the sea from Vietnam’s Central Highlands, the southern region of Laos, and the northeastern part of Cambodia. Quy Nhon international port in the province is a major hub in Vietnam, which can receive ships of up to 70,000 tons.