Vingroup, FPT back central Vietnam province’s green growth, innovation drive

Conglomerate Vingroup and tech giant FPT Corporation have pledged to support Khanh Hoa in its green growth and innovation push, outlining key priorities for the south-central province to drive future breakthroughs.

Vingroup will maintain strong investment, innovation, and sustainable development in Khanh Hoa, Vingroup CEO and vice chairman Nguyen Viet Quang said at a meeting between local authorities and businesses on Friday.

The conglomerate is also ready to work with the locality to pilot initiatives such as green walking routes and zero-emission tours, with a vision to establish Vietnam’s first model green tourism ecosystem in Khanh Hoa, he added.

Quang noted that Khanh Hoa has all the conditions to become a leading center of economy, tourism, hospitality, services, and innovation in Vietnam and the region.

"Khanh Hoa should position itself as Vietnam’s green tourism hub, encouraging and enabling companies to develop tourism anchored in green, clean, and sustainable principles." He also suggested the province accelerate the shift in tourism transport from fossil fuels to clean energy, particularly electric vehicles.

Meanwhile, FPT CEO Nguyen Van Khoa proposed the province establish a coastal innovation zone and develop a startup and technology ecosystem along the coastal region.

Khanh Hoa should position itself as the national “sentinel” for marine data and renewable energy, setting up a local science and technology fund, and rolling out a comprehensive smart digital citizen program, he said.

To that end, Khoa recommended that the province focus investment on five new growth pillars: smart cities and digital government, digital economy and AI, MICE (meetings, incentives, conferences, and exhibitions) tourism and high-end services, maritime logistics and transshipment ports, and green energy and energy technology.

FPT is committed to working with local authorities to build digital government and open data platforms, foster a tech startup ecosystem, and attract international businesses, he stressed.

Speaking at the meeting, Deputy Prime Minister Nguyen Chi Dung asked businesses and investors to capitalize on investment opportunities in Khanh Hoa in clean energy, logistics, tourism, and sustainable organic agriculture.

He also encouraged the development of major data centers and AI-driven industries across key economic and social sectors.

Incentive models for investors

Khanh Hoa and Ninh Thuan were merged to establish the new Khanh Hoa province from July 1, which borders Dak Lak, Lam Dong, and the East Sea.

Following the merger, Khanh Hoa boasts the longest coastline in Vietnam, stretching over 490 kilometers. This creates new development space and unlocks substantial potential and competitive advantages for Khanh Hoa, said its Chairman Tran Quoc Nam.

The new province represents a synergy between two localities rich in tradition and potential - former Khanh Hoa as a hub for the maritime economy, tourism, and services, and former Ninh Thuan as a leader in renewable and clean energy, high-tech agriculture, and distinctive cultural heritage, he noted.

Khanh Hoa now boasts a deep-water port, an international airport, and a network of expressways and railways, laying the foundation for its emergence as a regional hub for logistics, cargo transshipment, and energy.

Notably, the rollout of nuclear power, pumped-storage hydropower, and LNG power complex projects is set to position Khanh Hoa as a national power hub, playing a central role in Vietnam’s future energy strategy, according to the chairman.

Alongside this, a coastal urban corridor is taking shape along the Nha Trang-Cam Lam-Cam Ranh-Phan Rang axis. Combined with world-class eco- and seaside tourism potential and green, organic agriculture in the semi-arid southern zone, this is laying the foundation for diversified, multi-regional growth.

Nam told the meeting that the province has designed concrete investment incentive models. They include incentives in the Van Phong Economic Zone - a nationally strategic area where the province is exploring the development of a “Khanh Hoa Free Trade Zone” model.

Therefore, strategic investors in this economic zone will be given priority in early access to survey and assessment procedures, allowing for shorter investment preparation timelines.

They will also benefit from seamless infrastructure connections - roads, railways, and deep-water ports, as well as a one-stop administrative mechanism for handling procedures related to taxation, customs, and import-export activities.

The official also noted support policies for maritime and high-tech enterprises, saying with a 490 km coastline, Khanh Hoa holds major advantages in seaport operations, high-tech marine farming, and logistics.

Enterprises in these sectors will be eligible for the highest levels of sea surface lease exemptions and reductions, access to cleared land in high-tech zones planned and developed by the province, preferential corporate income tax policies, and incentives for innovation, he told the participating investors.

Nam also emphasized the province’s transparent investment environment and the strong support from local authorities as additional incentives for investors.