Khanh Hoa province calls for private investments in 122 projects

The central coastal province of Khanh Hoa is calling for private investments in 122 projects until 2025, with vision until 2030.

Under a new People's Committee decision, Nha Trang town, a famous tourism destination in Khanh Hoa, needs private capital for 47 projects, Cam Ranh town 13 and Ninh Hoa township 14.

Cam Lam district has four projects, while the districts of Dien Khanh, Van Ninh, Khanh Vinh and Khanh Son have 15, two, ten and 17, respectively.

Of those projects, many cover an area exceeding 100 hectares, including a 120ha new administrative and urban complex and a 227ha theme park-tourism complex, both in Nha Trang.

Key projects include a VND1 trillion ($42.5 million) international general hospital in the My Gia urban area, VND2.5 trillion ($106.3 million) Vinh Luong waste treatment factory in Vinh Luong commune, VND450 billion ($19.13 million) international secondary school in the My Gia urban area, and a commercial center and an art performing zone covering 60 hectares in Nha Trang.

Other key projects are a VND42 trillion ($1.79 billion) urban area in Cam Ranh Bay, a 17,000-hectare urban complex in Cam Lam district, and a global intelligence center covering 350 hectares in Cam Lam district.

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 the provincial statistics office.

The province attracted VND61,982 billion ($2.63 billion) of investments for development last year, up 15.01% year-on-year. Construction accounted for 83.98% of the total. Of this, VND10,455 billion ($445,000) is foreign direct investment capital.

Last June, 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 resolution specified that investment capital for projects in maritime research and development, technology transfer and information technology must exceed VND1,500 billion ($63.76 million). The corresponding figure for financial and commercial centers to be built in 2023-2024 was set at VND12,000 billion.

It was also specified that urban area projects should accommodate at least 50,000 people or cover at least 300 hectares.

Investment capital for high-end golf courses, entertainment and resort projects must be VND25,000 billion ($1.06 billion) at a minimum.