Central Vietnam province lines up $5 billion in investment

The People's Committee of Quang Binh province in central Vietnam awarded memoranda of understanding (MoUs) to 29 investors on Sunday with total expected capital of over VND112 trillion ($5 billion).

The MoUs on investment cooperation were granted at a conference in Hanoi to announce the Quang Binh master plan and promote investment in the central coastal province during 2023.

Of the 32 projects, three, worth VND11.67 trillion ($496.1 million), involve infrastructure; five are in sports and tourism with total capital of VND3.3 trillion ($140.28 million); six are in industry-energy-mineral industries with VND64.2 trillion ($2.73 billion); and one worth VND401 billion ($17 million) is in agriculture. The 17 other projects are in the real estate sector with combined investment capital of VND32.57 trillion ($1.38 billion).

The largest is the 1,500-megawatt Quang Trach II thermal power plant with an investment of up to VND50 trillion ($2.12 billion).

Others include a VND6.8 trillion ($298 million) project to develop the 860-hectare Bo Trach Industrial Park by a joint venture between Vinh Hung JSC and Thanh Binh Phy My JSC; and a VND2.9 trillion ($123.28 million) road linking Dong Hoi town with the UNESCO-recognized world natural heritage Phong Nha-Ke Bang National Park in Bo Trach district.

The Airports Corporation of Vietnam (ACV) will pour VND1.97 trillion ($83.74 million) into the construction of the second terminal and expand the apron at Dong Hoi airport; while Vinh Hung JSC plans to invest VND1.05 trillion ($44.6 million) in the Ocean Links Bo Trach golf course and VND320 billion ($13.6 million) in the Chay Lap eco-resort in Phuc Trach commune, Bo Trach district. CEO Group also intends to inject VND9 trillion ($382.5 million) into a 250-hectare urban area project in Quang Ninh district.

A joint venture between Saigon Thanh Dat Agriculture Investment JSC and Licogi 13 will develop a VND3.2 trillion ($136 million) urban area-resort complex in Ba Don township; while Truong Thinh Group will build a 45-hectare urban area in Dong Hoi town at an estimated cost of VND2.7 trillion ($114.77 million).

Appreciating the investors’ commitments, Secretary of the provincial Party Committee Vu Dai Thang affirmed that local leaders will do their best to create an equal, favorable, substantive, and effective investment environment.

"On its new journey, Quang Binh wishes to continue working with businesses to successfully realize the provincial master plan, turning ideas into realities and developing Quang Binh into a dynamic economy in the central region," he said