Vietnamese and foreign businesses on Wednesday signed agreements to explore investment opportunities totaling VND14.3 trillion ($561.9 million) in the central province of Quang Nam.
Quang Nam leaders hand over investment registration certificates for six projects in the province, central Vietnam. Photo by The Investor/Thanh Van.
At a conference on the 2021-2030 provincial Master Plan, with a vision until 2050, local leaders awarded investment registration certificates for six projects, with a total investment of more than VND1.07 trillion ($42 million).
Among these are two South Korean projects, including the VND146.4 billion ($5.7 million) Wiring Harness automotive parts assembly factory invested by Kyungrim Tech and the VND168 billion ($7.3 million) packaging industry support factory by Oriental Commerce Vina Co., Ltd.
Another project, an R&D center for Thaco Auto, has a total investment of over VND296 billion ($11.61 million), while China’s Standard Track Co., Ltd. will spend VND58 billion ($2.3 million) on a household goods production factory project.
Hong Kong-based Portillo Estudio Ltd. will construct a ready-built warehouse costing VND216 billion ($8.5 million).
Tucai SA from Spain received an investment registration certificate to manufacture flexible connectors with an investment of over VND187 billion ($7.3 million).
In addition, Quang Nam also signed memoranda of understanding on investment cooperation for four initiatives.
Thaco will spend over VND7.2 trillion ($282.4 million) researching the construction of a Cua Lo channel route to accommodate 50,000-ton ships, a road linking the Viet-Han Industrial Park to Vo Chi Cong street, the Tam Hoa bonded zone, and the Tam Hoa-Tam Tien urban area.
Capella Quang Nam JSC will inject over VND600 billion ($23.5 million) into the infrastructure of the expanded Tam Thang 2 IP.
Meanwhile, Viet Phuong Group will study investing in the infrastructure of Bac Thang Binh 1 and Bac Thang Binh 2 industrial parks, with total capital of more than VND6.5 trillion ($255 million), and Hoi An South Development Ltd will invest more than $1 billion in phase 2 of Hoiana Resort & Golf.
In addition, Capela Quang Nam JSC, the investor in the Tam Thang 2 Industrial Park, signed an agreement to lease infrastructure and land.
Tinfulong Material Singapore PET.LTD signed an MoU to invest in a high-tech polyester fiber raw material factory that is environmentally friendly, while Que Nam Medicinal Herb Pharmaceutical JSC signed a deal to develop a pharmaceutical factory using herbal extraction methods.
Chairman of the provincial People’s Committee Le Van Dung stated that by 2030, the province aims to become one of the quite developed localities in the country, with a modern, integrated infrastructure network. It will develop an airport, seaports, logistics services, tourism, automotive manufacturing, mechanical industries, and regional-level energy production.
The province also seeks to establish a supporting industry center, develop deep-processing agricultural and forestry products, medicinal herbs, and silica industries on a national scale; and to create high-quality vocational training centers.
By 2050, Quang Nam targets becoming a centrally governed city with high human development indices and income levels, contributing significantly to the central budget.
At the conference, the province also announced a series of prioritized investment projects for the 2021-2030 period and beyond.
Among these are 40 projects in transportation infrastructure, 32 in economic infrastructure in industrial zones and clusters, and 53 in commercial and service infrastructure.
Thailand-invested MM Mega Market Vietnam is searching for a location in Vinh Yen town, capital of the northern province of Vinh Phuc, to build a hypermarket.
Bruno Jousselin, CEO of MM Mega Market Vietnam, made the proposal at a meeting with Tran Duy Dong, Chairman of the Vinh Phuc People’s Committee, on Thursday.
Bruno Jousselin, CEO of MM Mega Market Vietnam, talks with Chairman of the Vinh Phuc People’s Committee Tran Duy Dong in the northern province, March 7, 2024. Photo courtesy of Vinh Phuc newspaper.
Jousselin expressed high regard for the province’s geographical location, infrastructure, and investment attraction policies. He proposed that the people’s committee facilitate its search for suitable investment locations and streamline project procedures in line with regulations.
During the meeting, Chairman Dong noted the significant demand for commercial transactions and shopping in the province, adding that Vinh Phuc is yet to have a commercial center at a suitably high level.
He expressed support for the company’s proposal and instructed the Department of Construction, the Center for Investment Promotion and Enterprise Support, and relevant departments to collaborate with MM Mega Market Vietnam in identifying investment locations that align with the province’s planning and land use plan for Vinh Yen town.
Dong also urged the company to review potential investment locations based on suggestions from provincial departments to ensure that they are suitable and convenient for site clearance.
The chairman recommended that the company consider leasing existing premises in urban areas within the province to expedite the project’s development.
MM Mega Market Vietnam, a subsidiary of Thailand’s TCC Group, primarily focuses on trade and services. After 23 years of operation, the company has expanded its network to include 21 supermarkets, seven warehouses, five logistics centers, two central distribution centers, and two warehouses for fresh products. The firm employs over 4,000 people and has over 2,000 suppliers across the country.
MM Mega Market Vietnam last November broke ground on its first department store in Vietnam, signalling a strong commitment to expanding its presence in the Southeast Asian nation.
The facility, costing nearly $20 million, spans 19,197 square meters on Nguyen Sinh Sac street in Lien Chieu district of the central city of Danang and incorporates recyclable and energy-saving materials. The MM Mega Market Danang is expected to come on stream in late 2025.
SK Group’s subsidiary seeks to expand in Vinh Phuc
On the same day, during a meeting with ChairmanDong, Yoo Jin-Han, chief financial officer of SKC and CEO of ISC Company under South Korea’s SK Group, asked Vinh Phuc to provide favorable conditions for ISC to expand its production capacity in the province, especially in terms of human resources, with the goal of making the ISC Vina factory a key production base for SK Group in Vietnam.
Chairman of the Vinh Phuc People’s Committee Tran Duy Dong (fourth, right) and SKC representatives at their meeting in the province on March 6, 2025. Photo courtesy of Vinh Phuc newspaper.
ISC Company specializes in manufacturing semiconductor test sockets and is currently investing in the ISC Vina factory project at Ba Thien 2 Industrial Park in Binh Xuyen district, Vinh Phuc. The factory spans nearly two hectares, with total registered investment capital of over $12.3 million.
The ISC Vina factory produces five main products, including plastic and synthetic rubber in primary form, metal products, electronic components, mechanical and metal processing and coating, and plastic and aluminum molds for the semiconductor industry.
The project currently employs over 900 workers, and in 2024, it is expected to generate nearly $29 million in export revenue, contributing more than $340,000 to the state budget.
Dong commended SK Group’s expansion as aligned with Vinh Phuc’s investment attraction goals.
Regarding the company’s request for assistance with human resource challenges, Dong assured that the province has plans to provide high-quality workers and social housing for employees, meeting the needs of investors.
Vinh Phuc is a manufacturing hub in northern Vietnam, together with Hanoi, Hai Phong, Hai Duong, Ha Nam, Bac Ninh, and Thai Nguyen.
Japanese keiretsu Sumitomo is keen to build its second industrial park in Vinh Phuc, a representative told local authorities in mid February.
Sumitomo-invested industrial parks in Vietnam include Thang Long in Hanoi, Thang Long II in the neighboring province of Hung Yen, and Thang Long Vinh Phuc in Vinh Phuc province,
The Da Nang City People’s Committee launched the Hoa Ninh Industrial Park Infrastructure Investment and Business Project (Phu My 3 Da Nang IP) in Hoa Ninh Commune, Hoa Vang District, on February 18.
Approved by the prime minister on December 31, 2024, and granted with its investment certificate on February 18, 2025, the project is being developed by Thanh Binh Phu My JSC.
It covers over 400 hectares, with a total investment of 6,204 billion VND.
Strategically located near the Lien Chieu deep-water port and existing industrial zones, Hoa Ninh Industrial Park aims to develop a specialised, modern industrial ecosystem with integrated logistics and sustainable infrastructure. Designed to meet international standards, it will attract both domestic and foreign enterprises.
The project is expected to create tens of thousands of direct and indirect jobs, prioritising local labour recruitment and vocational training partnerships. Additionally, it will include worker housing, schools, hospitals, and recreational facilities to improve living standards.
Hoa Ninh Industrial Park is set to stimulate auxiliary industries, boost regional economic growth, and serve as a model for sustainable development, balancing economic progress with environmental protection.
On the occasion, Thanh Binh Phu My JSC donated 500 million VND to support disadvantaged households in Hoa Ninh Commune.
Vietnam’s central coastal province of Ninh Thuan aims to complete the site clearance for Ninh Thuan 1 nuclear power plant in 2025.
Ninh Thuan Chairman Tran Quoc Nam made the statement during an on-site visit to the designated project site on Wednesday. The “whole political system” must join hands to make the move, including relocation and livelihoods for citizens, he added.
Ninh Thuan Chairman Tran Quoc Nam (second, left) visits the designated site for Ninh Thuan 1 nuclear power plant on March 5, 2025. Photo courtetsy of Ninh Thuan TV.
The new residential areas for citizens to be relocated must be better than the previous ones, Nam stressed.
In 2005, Vietnam’s Party Central Committee greenlighted a plan to build two nuclear power plants in the south-central province of Ninh Thuan. Four years later, the National Assembly, the country’s legislature, okayed the plan with an initial investment of VND200 trillion ($7.9 billion at the current forex rate).
In November 2016, the parliament decided to halt the 4,000 MW project, citing safety, funding and technology reasons. In November 2024, it agreed to resume the nuclear power project in Ninh Thuan after an eight-year suspension.
In February 2025, Prime Minister Pham Minh Chinh has assigned state-owned groups Vietnam Electricity (EVN) and Petrovietnam (PVN) to be investors of Ninh Thuan 1 and 2 nuclear power plants, respectively.
The PM also requested the Ministry of Industry and Trade to coordinate with relevant agencies to get nuclear power plants built towards completion by end-2030, or end-2031 at the latest.
