Central Vietnam province Quang Tri revises development plan, secures $7.72 bln in investment commitments

Quang Tri province unveiled a revised provincial development plan for 2021-2030 with a vision to 2050 on Saturday, while granting approvals for 33 projects worth about $7.72 billion, in a move aimed at accelerating growth in energy, logistics, tourism and urban development.

The announcement was made at an investment promotion conference attended by representatives from ministries, foreign diplomatic missions, international organizations, local authorities from Laos and Thailand, and more than 500 domestic and foreign businesses.

Under the revised plan, Quang Tri will focus on four strategic growth pillars – energy, logistics, tourism and green agriculture – as it seeks to become a key growth hub in Vietnam's north-central region and a regional center for clean energy, logistics, marine economy and tourism.

At the conference, Hoang Nam, standing Vice Chairman of the Quang Tri People's Committee, said the revised master plan would enable the province to better leverage its geographical location, infrastructure and development potential, while strengthening its role as a gateway linking Vietnam with Laos, Thailand, Cambodia and the Greater Mekong Subregion.

The new planning framework reorganizes the province's development around three economic corridors, seven growth centers, and four strategic sectors.

The three economic corridors comprise the North-South Economic Corridor, the Western Auxiliary North-South Economic Corridor, and the Trans-Asia East-West Economic Corridor.

The seven growth poles comprise Hon La-Ba Don-Quang Trach; Dong Hoi-Hoan Lao; Dong Ha-Gio Linh-Cua Viet-Nam Cua Viet-Trieu Binh-Cam Lo; the Southeast Quang Tri Economic Zone (Hai Lang-Dien Sanh-My Thuy-Vinh Dinh); the Cha Lo International Border Gate Economic Zone; the Lao Bao International Border Gate Economic Zone; and the La Lay International Border Gate.

By 2030, Quang Tri aims to become one of the more developed provinces in Vietnam's north-central region, with ambitions to establish itself as a leading clean energy, logistics and tourism hub in central Vietnam.

The province targets average annual gross regional domestic product (GRDP) growth of more than 10%, an economy valued at around VND238 trillion ($9.05 billion) and per capita GRDP of VND180-200 million ($7,604) per year by the end of the decade.

Total social investment during 2026-2030 is projected to exceed VND520 trillion ($19.77 billion), while the urbanization rate is expected to reach 45-50%. Installed power generation capacity is targeted at more than 15,000 megawatts, and annual tourist arrivals are forecast at 13-15 million, with tourism becoming a key economic sector.

Looking further ahead, Quang Tri aims by 2050 to become a sustainable development center for clean energy, logistics, tourism and the marine economy with regional standing in Southeast Asia, while attracting greater international investment and tourism.

At the conference, provincial authorities awarded in-principle approvals, investment registration certificates and research approvals for 33 projects with combined registered capital of $7.72 billion.

Among the largest projects is the Quang Trach III LNG-fired power plant, to be developed by state utility Vietnam Electricity (EVN), with total planned investment of nearly VND41.83 trillion ($1.59 billion).

Developer Sun Group received approvals for two projects: the U Bo Mountain-Thac Chuoi Lake entertainment, resort and eco-tourism complex, valued at nearly VND16.24 trillion ($617.32 million), and a mixed-use urban development west of Bau Tro Lake in Dong Hoi town, worth VND11.93 trillion ($453.55 million).

The energy sector accounted for a significant share of the investment commitments, including multiple wind power projects backed by Neragroup, Win International Energy, SCI, AMACCAO, Thanh An, Hai Anh, Hoa Binh, and other investors.

The project portfolio also includes urban developments, industrial parks, resorts, social housing, manufacturing facilities and high-tech agricultural projects.

In addition to projects receiving in-principle approvals, the province granted research and feasibility study approvals for several large-scale developments, including the Quang Tri Thermal Power Plant, with estimated investment of over VND66.45 trillion ($2.53 billion), the Bo Trach Industrial Park valued at VND6 trillion, and two high-tech agriculture and animal feed production projects by BAF Vietnam with combined planned investment exceeding VND3.3 trillion.

Provincial authorities said the revised development plan and newly approved investment projects are expected to strengthen Quang Tri's ability to attract capital into infrastructure, energy, industry, urban development and services, supporting economic growth and improving the province's competitiveness in the coming years.