Van Phong-Nha Trang expressway to be completed 6 months ahead of schedule

By Nguyen Tri, Lan Do
Sun, February 25, 2024 | 10:22 am GMT+7

The main investor for the Van Phong-Nha Trang Expressway project is attempting to complete it by June 2024, six months earlier than scheduled.

The 83.35 kilometer Van Phong-Nha Trang Expressway project in the south-central province of Khanh Hoa passes through four districts and towns - Van Ninh, Ninh Hoa, Dien Khanh and Khanh Vinh.

Van Phong is an economic zone, while Nha Trang town is one of Vietnam's top beach destinations.

Work underway on the Van Phong-Nha Trang Expressway in Khanh Hoa province, south-central Vietnam. Photo by The Investor.

Work underway on the Van Phong-Nha Trang Expressway in Khanh Hoa province, south-central Vietnam. Photo by The Investor.

The expressway begins south of the Co Ma tunnel in Van Ninh district and connects with the Nha Trang-Cam Lam Expressway in Dien Khanh district. It has a total investment of VND11,808 billion ($479.2 million).

According to Project Management Board 7 under the Ministry of Transport, 99.6% of the land has already been handed to the investor. The remaining area in Ninh Hoa township is being used to build public service roads.

In addition, local governments have constructed six resettlement locations and allowed 203 affected households to draw lots.

"The overall implementation progress of the entire project is 1.8% faster than planned. The investor and contractors are aiming to complete it in June 2024, six months earlier than expected," said Project Management Board 7.

Construction companies have gathered over 1,800 engineers, workers and nearly 1,000 pieces of machinery and equipment at the project site.

Troubles persist

However, Project Management Board 7 has admitted that the work of moving technical infrastructure and converting forest land into construction land continues to face challenges, affecting the project's progress.

In particular, the project needs to change the land-use purpose of 4.27 hectares of forest area – 2.85 hectares of natural forest and 1.42 hectares of planted forest. However, the policy for this change has not yet been decided by the competent authority.

During an inspection of the expressway project, Deputy Transport Minister Nguyen Duy Lam suggested that the Khanh Hoa People's Committee assigns capable and experienced people to expedite the process.

The people’s committee has sent a document to the ministries of Industry and Trade and Natural Resources and Environment, requesting that they work together to resolve issues and barriers so that the project can be completed and begin operations as soon as possible.

In mid-October 2023, the administration presented a report to the Ministry of Agriculture and Rural Development on the policy of modifying purpose of forest areas.

It also asked the Ministry of Industry and Trade to consider directing its Department of Electricity and Renewable Energy to assess relocation of 220kV power lines in Dien Khanh district.

In particular, it asked the ministry to direct units of the Vietnam Electricity Group (EVN) to work with local governments to expedite the agreement on relocating high voltage power lines in order to meet the project's construction timeline.

The provincial administration has appealed to the natural resources ministry that it complete its report at the earliest so that the government can report results of implementing Resolution No. 273 and submit it to the National Assembly Standing Committee for making adjustments that would allow localities to change the purpose of forests, clear land and hand it over to contractors for completing construction of the roadbed.

Comments (0)
  • Read More
Vietnam central bank to add new metrics to oversee banking activity

Vietnam central bank to add new metrics to oversee banking activity

The State Bank of Vietnam is proposing a set of new prudential metrics to strengthen oversight of banking operations, replacing the traditional loan-to-deposit ratio (LDR) with a broader framework aligned with Basel III standards.

Banking - Fri, May 1, 2026 | 8:00 am GMT+7

From national reunification to aspiration for an integrated development space

From national reunification to aspiration for an integrated development space

In 1975, Vietnam united the country through determination and a shared aspiration for independence. Today, in a very different context, the country faces a new challenge: unifying its market through institutional reform, writes Dr. Nguyen Sy Dung, former deputy head of the Office of the National Assembly - the country's legislature.

Economy - Thu, April 30, 2026 | 10:27 pm GMT+7

Vietjet seeks deeper engagement in Vietnam's aviation infrastructure development

Vietjet seeks deeper engagement in Vietnam's aviation infrastructure development

Vietjet, Vietnam’s first private airline, has proposed earlier and broader participation in Vietnam’s airport planning and infrastructure development, as the budget carrier looks to expand its role beyond flight operations into ground services and logistics.

Companies - Thu, April 30, 2026 | 9:42 pm GMT+7

Vietnamese giants kick off 4 mega projects in HCMC

Vietnamese giants kick off 4 mega projects in HCMC

The Ho Chi Minh City People’s Committee on Wednesday held a groundbreaking ceremony for four large-scale projects invested by Vietnamese conglomerates including Vingroup, Sun Group and Truong Hai Group (Thaco).

Economy - Thu, April 30, 2026 | 8:01 pm GMT+7

Vingroup starts work on $2.2 bln int'l university township in southern Vietnam

Vingroup starts work on $2.2 bln int'l university township in southern Vietnam

Vietnam’s conglomerate Vingroup (HoSE: VIC) on Wednesday broke ground on a VND59 trillion ($2.24 billion) international university township in Ho Chi Minh City.

Real Estate - Thu, April 30, 2026 | 12:38 pm GMT+7

Chinese firm Livzon secures control of Vietnam’s pharma giant Imexpharm in $228 mln deal

Chinese firm Livzon secures control of Vietnam’s pharma giant Imexpharm in $228 mln deal

Lian SGP Holding Pte. Ltd., a Singapore-based entity wholly owned by China’s Livzon Pharmaceutical Group Inc., has acquired a controlling stake in Vietnam’s pharma giant Imexpharm (HoSE: IMP) following a public tender offer.

Companies - Thu, April 30, 2026 | 12:22 pm GMT+7

Sun Group partners with Keppel to drive green transition across tourist places

Sun Group partners with Keppel to drive green transition across tourist places

Vietnam’s leading real estate developer Sun Group has signed a strategic partnership with Keppel EaaS Vietnam, part of Singapore’s Keppel Ltd., to accelerate energy optimization and decarbonization across its tourism destinations.

Real Estate - Thu, April 30, 2026 | 10:42 am GMT+7

'Shark Hung' unexpectedly resigns from real estate brokerage Cen Land ahead of AGM

'Shark Hung' unexpectedly resigns from real estate brokerage Cen Land ahead of AGM

Pham Thanh Hung, widely known as “Shark Hung”, has stepped down from the board of directors at Century Real Estate JSC (Cen Land) - a major Vietnamese real estate brokerage, citing "personal plans".

Companies - Thu, April 30, 2026 | 10:32 am GMT+7

Japanese FDI in Vietnam: From manufacturing hub to strategic capital flows

Japanese FDI in Vietnam: From manufacturing hub to strategic capital flows

Japanese investment in Vietnam is shifting away from a factory-led model toward a long-term ecosystem spanning manufacturing, energy, industrial parks, retail, and banking-financial services.

Economy - Thu, April 30, 2026 | 7:11 am GMT+7

Keppel files arbitration against partners in $1.2 bln southern Vietnam project

Keppel files arbitration against partners in $1.2 bln southern Vietnam project

Singapore conglomerate Keppel Ltd. has initiated arbitration proceedings against three partners in a $1.2 billion residential and mixed-use urban project in Vietnam’s southern metropolis hub of Ho Chi Minh City.

Real Estate - Wed, April 29, 2026 | 9:54 pm GMT+7

Vietnam to secure 4 mln oil barrels from Japan's Idemitsu

Vietnam to secure 4 mln oil barrels from Japan's Idemitsu

Japanese petroleum giant Idemitsu Kosan will provide Vietnam with about four million barrels of crude oil procured through routes that do not transit the Strait of Hormuz, Nikkei reported on Monday.

Industries - Wed, April 29, 2026 | 4:04 pm GMT+7

Central Vietnam hub Danang approves land lease for $200 mln AI-ready data center project

Central Vietnam hub Danang approves land lease for $200 mln AI-ready data center project

The Danang People's Committee has approved a land lease to MCB Decenter Co. Ltd. for the AIDC Decenter data center project, covering 10,000 square meters at the Danang Hi-Tech Park in Lien Chieu ward.

Companies - Wed, April 29, 2026 | 3:45 pm GMT+7

Vietnam corporate bond flows concentrate among large corporations

Vietnam corporate bond flows concentrate among large corporations

Vietnam’s private corporate bond market has shown signs of recovery in the first four months of 2026, led by real estate issuers, though capital flows remain heavily concentrated among a handful of large corporations.

Finance - Wed, April 29, 2026 | 2:55 pm GMT+7

Previously invested projects will refill cash flow for Vietnam major builder CII’s next growth leg: CEO

Previously invested projects will refill cash flow for Vietnam major builder CII’s next growth leg: CEO

Le Quoc Binh, CEO of Ho Chi Minh City Infrastructure Investment JSC (HoSE: CII), likened the company to a marathon runner that cannot keep running nonstop and at times must stop for “water,” recover strength and continue, with that “source of water” coming from property projects the company has already invested in.

Companies - Wed, April 29, 2026 | 1:22 pm GMT+7

Vietnam approves southern industrial hub Dong Nai as seventh centrally-governed city

Vietnam approves southern industrial hub Dong Nai as seventh centrally-governed city

The National Assembly, Vietnam's legislative body, has approved a resolution to establish Dong Nai as a centrally-governed city, making it the country’s seventh such municipality.

Economy - Wed, April 29, 2026 | 9:46 am GMT+7

Vietnam food giant Kido’s stock plunges to 6-year low amid profit warning, market pressure

Vietnam food giant Kido’s stock plunges to 6-year low amid profit warning, market pressure

KDC shares of Kido Group, a leading food company in Vietnam, on Tuesday fell sharply to its lowest level in six years, at around VND41,600 ($1.58) apiece, from roughly VND50,000 earlier this month.

Companies - Wed, April 29, 2026 | 8:17 am GMT+7