Khanh Hoa province appoints new planning & investment chief

Chau Ngo Anh Nhan was appointed director of Khanh Hoa province's Department of Planning and Investment on Tuesday for a five-year term.

Previously, he was standing vice director of the department. Nhan, born in 1978 in Khanh Hoa, holds a master's degree in economics and a bachelor's degree in construction engineering.

Khanh Hoa province in south-central Vietnam has been a magnet to investors in recent years. In the first half of 2023, the province lured eight non-state budget investment projects worth over VND4.08 billion ($172.5 million) in total. The province also signed memoranda of understanding with 16 strategic investors with total registered capital of more than VND80 trillion ($3.38 billion).

Many large firms have expressed an interest in investing in 27 projects in Khanh Hoa, an economic hub in south-central Vietnam. Among them are Sun Group, Novaland, FPT Corporation, Trung Nam Group, and Hoa Phat Group.

In June 2022, the National Assembly, the country's highest legislative body, issued a resolution on distinct mechanisms and policies for Khanh Hoa to be implemented on a pilot basis to attract only mega projects. The coastal province is calling for private investments in 122 projects until 2025, with a vision to 2030.

Khanh Hoa recorded gross regional domestic product (GRDP) growth of 20.7% in 2022, the highest pace in Vietnam amid the country's post-pandemic recovery, according to provincial data.

The province attracted VND61.98 trillion ($2.63 billion) in investment for development last year, up 15% year-on-year. Construction accounted for 83.98% of the total, of which VND10.46 trillion ($441.74 million) was FDI capital.