Central Vietnam coastal province seeks hi-tech investments in economic zone
The central coastal province of Khanh Hoa, famous for beach town Nha Trang, has adopted an investment promotion plan that includes high-tech investments for the Van Phong Economic Zone (EZ).
For the Van Phong EZ, the province seeks investments of VND1.5 trillion ($60.88 million) in innovation centers, research & development (R&D) centers, information technology as well as transfer of advanced maritime and biotechnology technologies.
The province also seeks investments worth VND12 trillion ($487 million) for trade and financial centers as well as development of urban areas of at least 300 hectares that house 50,000 dwellers each.
Other priority areas that Khanh Hoa has identified include hotels, resort complexes and integrated entertainment zones as well as a golf course with investments worth VND25 trillion or more.
It also seeks investments worth at least VND6 trillion ($243.5 million) for projects in clean energy, hi-tech processing and manufacturing, precision mechanics, petrochemicals and electronics.
Priority is also given to infrastructure works related to airports, seaports, wharves and logistic services with investments of at least VND2.3 trillion ($93.3 million); and construction and operation of non-tariff zones with investments of VND6 trillion or more.
The Van Phong EZ has a combined area of 150,000 ha – 70,000 ha of land and 80,000 ha of sea – about 30 kilometers north of Nha Trang town. It was intended to become one of the three special economic zones in Vietnam under a bill green-lighted by the Politburo, the highest decision-making body in the country. But the parliament decided to suspend the bill after protests across the country.
The province has also outlined investment guidelines for Nha Trang town and the Cam Ranh bay. An international hospital and a solid waste treatment plant in Nha Trang are open for investment.
In the Cam Ranh bay region, home to the country’s six Kilo-class submarines, the local government intends to turn Cam Ranh town into a tourism-logistics area and for Cam Lam district to become a world-class airport and ecotourism township.
To encourage investments, the provincial government will prepare detailed plans and specify projects for implementation each year. It will also establish a steering committee for investment promotion, increase dialogue with businesses to promptly remove hurdles and speed up crucial infrastructure works.
In 2023, the province attracted 17 non-budgetary investment projects with a combined registered capital of VND100.86 trillion ($4.1 billion) and allowed capital additions worth VND41.1 trillion ($1.67 billion) to 19 existing projects.
- Read More
$681 mln urban project wanted by Sun Group in central Vietnam gets authority green light
The government of Vietnam’s central coastal province of Khanh Hoa has given an in-principle approval for a VND17.3 trillion ($681 million) urban project that has drawn the interest of realty developer Sun Group.
Infrastructure - Fri, November 22, 2024 | 1:53 pm GMT+7
Vietnam foreign ministry dismisses allegations of tightening visa rules for foreigners
Allegations of Vietnam tightening visa policies and control over foreigners are "baseless", Foreign Ministry spokeswoman Pham Thu Hang said Thursday.
Politics - Fri, November 22, 2024 | 11:29 am GMT+7
Thailand-invested food giant CP fined $31,000 for environmental violations
Vietnam’s southern province of Dong Nai has issued a fine of VND790 million ($31,080) to Thailand-invested C.P. Vietnam Corporation for violating environmental regulations.
Companies - Fri, November 22, 2024 | 10:48 am GMT+7
Vietnamese billionaire’s daughter spends $25 mln on Masan share purchases
Nguyen Yen Linh, the daughter of chairman Nguyen Dang Quang of consumer goods giant Masan Group (HoSE: MSN), has purchased nearly 8.5 million MSN shares over the past three weeks, meeting 85% of her target.
Finance - Fri, November 22, 2024 | 10:27 am GMT+7
PYN Elite manager upbeat about Vietnam’s economy, stock market despite Trump uncertainty
The Vietnamese economy will still fare well, and the local stock market will remain appealing despite the recent pullback following Donald Trump’s election win for a second term, said Petri Deryng, portfolio manager of Finland-based the PYN Elite fund.
Finance - Fri, November 22, 2024 | 8:25 am GMT+7
Central Vietnam province plans to build $2.4 bln LNG power plant from 2031
The 4,800-MW Chan May LNG power plant, with an investment of $2.4 billion, can be deployed in 2031-2035, according to Thua Thien Hue authorities.
Energy - Thu, November 21, 2024 | 10:41 pm GMT+7
Indonesia, France step up cooperation in economy, defence
Indonesian President Prabowo Subianto discussed economic and defence cooperation during a bilateral meeting on Tuesday with French President Emmanuel Macron on the sidelines of the G20 Summit in Rio de Janeiro, Brazil, Antara reported.
Southeast Asia - Thu, November 21, 2024 | 10:25 pm GMT+7
Thai economy to maintain upward momentum in 2025
The National Economic and Social Development Council of Thailand (NESDC) expects the Thai economy to sustain its upward momentum in 2025 with a growth of 2.3-3.3% despite growing risks.
Southeast Asia - Thu, November 21, 2024 | 10:24 pm GMT+7
Former parliament chairman Vuong Dinh Hue warned for violations
The Politburo, Vietnam's supreme decision making body, on Wednesday issued warnings to Vuong Dinh Hue, former Chairman of the National Assembly, and Nguyen Van The, former Minister of Transport, for violations while on duties.
Politics - Thu, November 21, 2024 | 10:10 pm GMT+7
Sumitomo insists on building LNG power plant in central Vietnam
Japanese trading house Sumitomo has been pushing for a liquefied natural gas (LNG)-fed power plant investment in Vietnam’s central province of Khanh Hoa.
Energy - Thu, November 21, 2024 | 8:53 pm GMT+7
Vietnam’s Vinhomes fulfils 67% of record buyback plan
Vinhomes, the housing development arm of conglomerate Vingroup, has purchased back 246.98 million shares, meeting 66.75% of the plan and accounting for 5.7% of the outstanding volume.
Finance - Thu, November 21, 2024 | 8:43 pm GMT+7
Vietnam high-speed railway should run beyond Hanoi, HCMC on either side: lawmakers
Vietnam’s mega North-South high-speed railway project should be redesigned and extended beyond Hanoi and Ho Chi Minh City as currently planned, several lawmakers have suggested.
Infrastructure - Thu, November 21, 2024 | 6:11 pm GMT+7
Vietnam-Malaysia relationship upgraded to comprehensive strategic partnership
Vietnam and Malaysia have upgraded their relationship to a comprehensive strategic partnership, the highest level in the former’s diplomatic hierarchy.
Politics - Thu, November 21, 2024 | 5:21 pm GMT+7
Petrovietnam units sign LNG supply deal for trial run of Vietnam’s first LNG power plants
PV Power and PV Gas, two units of state-owned Petrovietnam, have signed an LNG supply deal for trial operation of Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants.
Energy - Thu, November 21, 2024 | 4:40 pm GMT+7
Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister
Minister of Transport Nguyen Van Thang affirmed Wednesday that funding would be secured for building the Long Thanh International Airport, set to become Vietnam’s biggest.
Infrastructure - Thu, November 21, 2024 | 3:53 pm GMT+7
Bamboo Capital wins kudos for transparent reports, good governance
Vietnamese private conglomerate Bamboo Capital Group has been honored as a Top 20 business with the Best Annual Report and the Best AGM Organization at the 2024 Vietnam Listed Company Awards (VLCA).
Bamboo Capital - Thu, November 21, 2024 | 3:37 pm GMT+7