Central Vietnam province Gia Lai attracts $32 bln in investment pledges led by Vingroup, FLC, Thaco

Gia Lai province has secured investment commitments worth about $32 billion, with major domestic and foreign corporations pledging large-scale projects across energy, infrastructure and agriculture.

At an investment promotion conference on Saturday, Gia Lai authorities granted in-principle approvals, handed over investment registration certificates, and signed MoUs for 273 projects, with total registered and expected capital of VND838 trillion ($31.82 billion).

Of these, 144 projects received in-principle approvals worth more than VND230 trillion ($8.73 billion), focusing on key sectors such as renewable energy, urban development, industrial infrastructure, and high-tech agriculture. Leading the wave are major conglomerates including Vingroup's arm VinEnergo, FLC Group, and Thaco.

Energy and urban projects dominate

Among the largest projects are wind power developments by VinEnergo, which received approval for the Hon Trau-phase 1 and Vinh Thuan wind farm projects with total investment capital exceeding VND53 trillion ($2.01 billion).

Other approved projects include Van Canh 1 and Van Canh 2 wind farms by Saigon-Bac Giang Industrial Park Corporation worth nearly VND14.68 trillion ($557.17 million), alongside multiple solar and wind energy projects.

In urban and tourism development, notable projects include the VND22 trillion ($835.28 million) Phu Hoa sport-culture, tourism and urban area complex by Phu Hoa City JSC (a consortium including Geleximco, Glexhomes, Phuc Loc, and Cienco 8), as well as the VND4.8 trillion Cat Tien service, commercial and urban area project by Lac Viet Palmer Johnson Coastal Urban and Superyacht JSC, along with many other large-scale urban area, residential area and social housing projects.

In addition to approved projects, 129 MoUs were signed with total pledged capital exceeding VND606 trillion ($23.01 billion). VinEnergo alone committed to renewable energy projects worth about VND210 trillion ($7.97 billion), while FLC Group pledged around VND150 trillion ($5.7 billion) for an integrated complex including airport expansion, logistics, tourism and urban area development.

Some other notable projects include Phu Tai JSC's group of projects totaling estimated capital of VND26.5 trillion ($1.01 billion); Sun Group's international seaside resort and urban area project worth VND20 trillion ($759.35 million); Vinh Hiep Vietnam Co., Ltd. with a series of projects totaling VND18.8 trillion; and Duc Long Group JSC with a string of infrastructure, service and urban area projects totaling VND14.8 trillion.

FDI enterprises also made their mark with many projects, such as Q Digital Limited with a data center project (VND13 trillion or VND493,56 million); and Muyuan Vietnam Co., Ltd. with a modern pig farming system combined with a feed production plant (VND6.58 trillion); and Blooming Sky Co., Ltd. with an entertainment, sport, culture, service and tourism complex (VND5.8 trillion).

Focus on green growth and agriculture

Speaking at the event, Le Khac Hiep, vice chairman of Vingroup, said energy is a strategic priority for Vingroup, with the group planning large-scale renewable projects in Gia Lai through VinEnergo.

The company is studying wind power projects with a combined capacity of around 893 MW and exploring further developments with potential capacity of up to 5 GW, he said.

The group will also consider investing in solar power projects, energy storage systems, and new technological solutions, contributing to supplementing the national power grid with clean and stable electricity.

Meanwhile, Tran Ba Duong, chairman and general director of Truong Hai Group (Thaco), said that in the agricultural sector, from an initial land fund of about 84,000 hectares, the company's figure has now been increased to about 95,000 hectares.

Currently, the enterprise has developed nearly 14,500 hectares of cultivated land, approximately 9,000 hectares for breeding and raising beef cattle, combined with intercropping of agricultural crops and fruit trees such as durian and mango.

The total cattle herd has reached about 180,000 head. Alongside this is a system of factories producing agricultural supplies, specialized machinery, processing plants, and a comprehensive cold storage system.

Thaco has developed large-scale farming operations, including fruit cultivation and cattle breeding, with a herd of around 180,000 cattle, supported by processing plants and logistics infrastructure.

By 2028, the group plans to expand to 25,000 hectares of cultivation and a herd of 365,000 cattle, while developing integrated agricultural products and export-oriented supply chains.

Duong said Thaco aims to generate about VND30 trillion ($1.14 billion) in revenue from its Gia Lai province operations by 2028, with exports accounting for a significant share.

The influx of investment highlights growing interest in Gia Lai as a hub for renewable energy and large-scale agriculture, in line with Vietnam’s broader push toward green growth and sustainable development.

Last July, Binh Dinh and Gia Lai provinces were merged to form the new Gia Lai which borders Dak Lak, Quang Ngai, Cambodia, and the East Sea.

Following the merger, Gia Lai is emerging as a renewable energy growth pole in the south-central coast, combining coastal advantages with sun-drenched, wind-swept highlands.

These favorable natural conditions allow the province to develop a diverse renewables portfolio, spanning onshore and offshore wind power as well as ground-mounted and floating solar projects.