Central Vietnam province seeks $20.6 bln for massive seaport network

Binh Dinh province is seeking $20.6 billion for a massive seaport network including general ports, container ports and specialized ports serving wind energy, building materials, and petroleum industries.

The Phu My Wharf project comprising nine sub-projects located in the eponymous province is one of 322 projects for which the south-central province is calling for investors.

The list of investment promotion projects covering a wide range of industries and sectors including real estate, service, trade and tourism was recently released by the Binh Dinh People's Committee.

The standout project in the list is the seaport network in the 257 hectare Phu My wharf area with an investment of $20.6 billion.

Among 182 projects in the real estate, services, commerce, and tourism industries, the biggest one is located in the Nhon Hoi Economic Zone – a 33-hectare high-rise complex with an investment of $6 billion.

Besides this, the province is encouraging investments in infrastructure (44 projects), agriculture and fisheries (seven projects); agricultural, forestry, and aquatic product processing (20 projects); and wastewater collection and treatment (18 projects).

Fan Tuo Lin, CEO of Fujiwara Binh Dinh Company, said the firm has been investing in the Nhon Hoi Economic Zone for five years and received a lot of assistance from Binh Dinh authorities, including tax exemptions and refunds.

He said that a Japanese company that was invited to explore investment opportunities in Binh Dinh was impressed with the advice and mechanisms presented by the province.

Recognizing the province’s immense potential, FPT Group has made significant investments in education and artificial intelligence in recent years, said Tran Huy Bao Giang, general director of FPT Digital.

The FPT University and FPT High School systems, in particular, have contributed to the development of a highly technical workforce capable of competing with the regional and international counterparts, Giang said.

FPT's Global AI Development Center in Quy Nhon has achieved significant success, he added.

According to leaders of the Department of Planning and Investment, they have achieved several successes by diversifying investment promotion methods, but several limitations persisted, including low production and efficiency.

Therefore, in 2024, Binh Dinh will continue to organize online investment promotion conferences with other countries, actively expand international cooperation and establish bilateral cooperation with foreign localities.