Major Vietnamese groups kick off mega projects in south-central Vietnam

Vingroup, BIN Corporation, Hoa Phat, and FPT simultaneously broke ground on large-scale projects in south-central Vietnam on Friday, raising expectations for new national growth momentum in the coming period.

BIN Corporation invests over $128 mln in Danang industrial park

In Danang, Nam Thang Binh Industrial Park Infrastructure Investment JSC, part of the BIN Corporation ecosystem, held a groundbreaking ceremony for the Nam Thang Binh Industrial Park - Zone B.

The project covers 346 hectares in Thang Dien and Thang Truong communes, with a total investment of over VND3.37 trillion ($128.17 million). It will be implemented over five years from the date land is allocated by the state.

Once completed, the industrial park is expected to attract industries that minimize emissions, promote renewable energy use, and enhance green landscapes.

Priority will be given to symbiotic industries and high-tech sectors such as information technology, telecommunications, electronics; deep processing of silica-based products; processing of medicinal herbs; and export-oriented agricultural products.

The project aims to develop an eco-industrial park applying advanced technologies and creating high added value.

Le Hung Anh, chairman of BIN Corporation, said that the new Danang, formed after the merger with Quang Nam province in July, with its larger area, new vision and new driving forces, has created many favorable conditions, making it an attractive destination for investors.

“Nam Thang Binh Industrial Park can attract secondary investors who are high-tech and environmentally friendly, bringing significant added value,” Hung Anh said, adding that the park is not an endpoint but rather a part of the broader development picture of southern Danang and the country in the new era.

Also in Danang, several other projects kicked off on Friday, including an interchange between National Highway 14B and the Danang-Quang Ngai Expressway, a social housing project in the residential area south of Cam Le bridge, and a high-quality care and treatment center of Danang C Hospital.

Hoa Phat to produce railway tracks in 2027

In Quang Ngai province, steel giant Hoa Phat Group held the groundbreaking ceremony for the Hoa Phat Dung Quat rail track and special steel plant project.

The plant has a designed capacity of 700,000 tons per year, with a total investment of over VND10 trillion ($380 million), implemented on nearly 15 hectares in the eastern industrial zone of Dung Quat Economic Zone.

Notably, the plant is equipped with one of the world’s most advanced production lines supplied by Germany’s SMS Group and Primetals of the UK. This leading European technology features an ultra-flexible four-roll rolling system with high precision, ensuring uniform quality that meets international high-speed railway standards.

The plant’s high-tech steel products include high-speed and urban railway tracks, and crane rails. In addition, it will produce U-, I-, H-, and V-shaped steel and various other special types.

The first high-speed railway track products are expected to be debuted in 2027, making Hoa Phat the first and only enterprise in Southeast Asia capable of producing this type of steel.

Immediately after the groundbreaking ceremony, contractors began simultaneous construction of related items. From mid-2026, machinery and production lines will be installed, with the goal of producing the first steel railway tracks in 2027 - one year earlier than the plan under the approved investment policy.

Mai Van Ha, director of Hoa Phat Dung Quat Rail and Special Steel JSC, a subsidiary of Hoa Phat, stated that with this project, the group is concentrating resources to bring products to market in 2027, supplying high-speed railway projects and national key projects, as well as meeting domestic and international market demand.

“The project aims to realize our commitment to the Government to manufacture and supply high-quality steel products for major transportation projects currently underway. The group has fully prepared in terms of technology lines and human resources to master the technology as soon as the plant comes into operation,” Ha said.

In addition to Hoa Phat’s project, Quang Ngai also broke ground on the Southern Tra Khuc River downstream stormwater and wastewater collection and treatment system project with a total investment of approximately VND1 trillion ($38 million) and an infrastructure upgrade and expansion project for Dung Quat Economic Zone worth VND350 billion ($13.3 million); and inaugurated the Quang Ngai-Hoai Nhon Expressway.

FPT develops AI research center in Gia Lai

In Gia Lai province, the Artificial Intelligence Research Center project, located in Quy Nhon Tay and Quy Nhon Bac wards, officially broke ground. The project is invested by tech giant FPT Group.

The center is planned on an area of over 11 hectares with a total investment of VND613 billion ($23.3 million), comprising three main functional zones: an AI research and digital technology service production center; a research, application, and testing area for unmanned aerial vehicles (UAVs); and a data center.

Nguyen Khai Hoan, deputy CEO and CFO of FPT Software, a member of FPT Group, said that the Gia Lai center will be an important link in FPT’s global AI development network. It will serve as a hub for research, digital technology services, new technology testing, and high-quality human resource training.

Once operational, the center is expected to employ more than 4,000 experts. At the same time, FPT will continue training around 2,000 local technology students, linking education with real-world challenges of businesses and the province, he stated.

“FPT will cooperate with Mila, the world’s leading AI research institute, and global partners to gradually establish an AI sub-institute in Gia Lai, contributing to Vietnam’s core research capacity in AI and other technologies,” Hoan added.

Also in Gia Lai, Ngan Tin Investment Group JSC (Ngan Tin Group) broke ground on the Southwest Nhon Ly Urban Area project. The over VND3 trillion ($114 million) project is invested by Ngan Tin Quy Nhon One-Member LLC, a subsidiary of Ngan Tin Group, on an area of 21.31 hectares.

The project includes a social housing component with 300 units, in response to the Prime Minister’s call for the construction of at least one million social housing units for low-income earners by 2030.

Dinh Phu Minh, CEO of Ngan Tin Group, said that with the mission of “Creating modern, green, clean, and beautiful living spaces and experiences,” the 300 social housing units and 335 commercial housing units within the modern complex will be built to the highest quality standards, with scientific design, comprehensive public amenities, and ample green spaces.

Vinhomes-led consortium breaks ground on $3.24 bln Cam Ranh urban area

On the same day in Khanh Hoa province, a consortium comprising Vinhomes JSC, Cam Ranh Investment JSC, and VinES Energy Solutions JSC broke ground on the "Urban Area by Cam Ranh Bay" project.

The project covers over 1,254 hectares in Bac Cam Ranh ward, with a total investment of more than VND85.293 trillion $3.24 billion). Once operational, it will feature 8,474 townhouses, 10,732 villas, and 19,816 social housing units, with a planned population of 230,779 people.

According to Le Mai Lan, vice chairwoman of Vingroup, the urban area is envisioned as a modern development model with synchronized infrastructure, architecture, and landscape.

In addition to residential areas, the project will include a full system of public and essential service facilities of a model urban area, such as schools, medical stations, markets, shopping centers, green parks, and community activity areas.

“When completed, the Urban Area by Cam Ranh Bay will become a key driving force in the urbanization process, promoting economic restructuring and enhancing the quality of life and urban landscape of the entire region,” Lan added.