Project

Property giant Sun Group eyes central Vietnam airport investment

Published

6 hours ago

March 16, 2025

Sun Group, Vietnam’s leading real estate developer, proposed 14 projects in the south-central province of Khanh Hoa, including the Van Phong International Airport, at a meeting with provincial leaders last Wednesday.

Cam Ranh International Airport in Khanh Hoa province, south-central Vietnam. Photo courtesy of An ninh Thu do (Capital Security) newspaper.

According to a document submitted by the provincial People’s Committee to the Ministry of Transport in late 2024, Khanh Hoa proposed developing Van Phong International Airport through a public-private partnership (PPP), with an initial estimated cost of VND9.2 trillion ($363 million).

The state will oversee relocation, land clearance, and certain flight operation infrastructure, while PPP investors will be responsible for building airport facilities, civil aviation areas, and a connecting traffic system.

Van Phong airport will be located in Van Thang commune in Van Ninh district, 65 km south of Nha Trang town, 108 km south of Cam Ranh International Airport, and 48 km south of Tuy Hoa Airport in the neighboring province of Phu Yen. Its northeast-southwest runway will be 3,050 meters long.

The airport will span 497 hectares, including 10 ha managed by the military. Notably, it will be built on land reclaimed from the sea

The project will have an initial capacity of 1.5 million passengers a year. It will meet level 4E design standards and also function as a level 1 military airport.

If approved, work will start as early as this year and the completion deadline will be by 2029. The airport is part of Van Phong Economic Zone, one of three key economic zones in Khanh Hoa province.

According to the master plan of Khanh Hoa, the 150,000 ha zone plays a leading role in attracting investment and is a driving force of the economic development of neighboring regions and the whole country.

Also at the Wednesday meeting, Sun Group expressed its wish to develop several urban areas in the province such as Co Ma, Tu Bong, and Dam Mon, and the Ho Na luxury resort. Notably, the Co Ma urban area is scheduled to start in July 2025.

Addressing the function, Chairman of the provincial People’s Committee Nguyen Tan Tuan affirmed that Khanh Hoa always welcomes and creates the most favorable conditions for businesses and investors to implement projects in the province.

During the implementation process, any difficulties or obstacles will be promptly resolved by the provincial leadership and relevant departments, he noted. Tuan asked Sun Group to accelerate the progress of the ongoing projects in the province.

Sun Group is one of the leading multi-sector conglomerates in Vietnam, engaging in real estate, resort tourism, entertainment, and infrastructure investment. Recently, the group also proposed investing in the second phase of Phu Quoc International Airport in the southern province of Kien Giang to serve the 2027 APEC Economic Leaders’ Week.

It committed to completing this project within 16-18 months after land clearance is finished. Once completed, the airport can accommodate 18-20 million passengers and handle 50,000 tons annually.

Sun Group has invested in Van Don International Airport in the northern province of Quang Ninh under a build-operate-transfer (BOT) format. It has also been designated as a contractor for the Gia Bình International Airport project, with a committed completion time of 12 months.

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SAM to develop $1.5 bln data center in southern Vietnam

Published

28 minutes ago

March 16, 2025

Industrialzone.net

Ho Chi Minh City-based fund Saigon Asset Management (SAM) has launched a $1.5 billion data center project in the southern province of Binh Duong, aiming to capitalize on Vietnam’s growing demand for digital infrastructure.

SAM will partner with the Vietnam Singapore Industrial Park (VSIP), a Singapore-backed major industrial park developer, to implement the project, called the SAM DigitalHub.

The data center, with a designed capacity of 150 MW, will cover 50 hectares at the VSIP and is expected to begin operations in two years. Once completed, it will be the biggest data center in Vietnam.

The Vietnam-Singapore Industrial Park I in Binh Duong province, southern Vietnam. Photo courtesy of VSIP.

SAM is seeking potential investors, including local banks, to finance the project, SAM’s CEO Louis Nguyen said.

Recently, SAM debuted the $300 million Vietnam Data Center Fund (VDCF) to prepare for the project, with the first closing scheduled by Q4 this year.

According to a report by Cushman & Wakefield, Vietnam’s developing data center capacity is approximately 92 MW, with an average construction cost of $6.9 million per MW. To meet future demand, the country will need to attract around $640 million in investment over the next five to seven years.

Vietnam’s data center market is still in its early stages, with the lowest population-to-MW ratio in the Asia Pacific region (1.83 million people per MW). However, with a population exceeding 100 million and an average GDP growth rate of 6.25%, the market presents significant growth potential in the coming years, said Trang Bui, country head of Cushman & Wakefield Vietnam.

To support long-term growth, the Vietnamese government should continue improving its digital infrastructure, including terrestrial and submarine cable connectivity, ensuring reliable and uninterrupted power supply, and fostering a policy framework conducive to data center expansion, she suggested.

Project

Taking advantage of potential and opportunities for industrial development

Published

2 hours ago

March 16, 2025

Industrialzone.net

Many experts assessed that the Mekong Delta city of Can Tho has a lot of potential for industrial development. This city is located in the centre of the Mekong Delta, acting as a strategic trading hub and a growth pole of the region.

There is an international airport system, a seaport system and convenient traffic connections by road and waterway with localities in the region, with the key economic zone in the South and neighbouring areas as well as internationally. Can Tho also has an abundant source of trained labour from the universities, colleges and vocational schools in the region.

Seeing the advantages, in recent years the city has been focused on “cleaning the nest, welcoming eagles” to develop industry. In October 2024, VSIP Can Tho Industrial Park (Vinh Thanh Industrial Park Phase 1) officially cleared the land synchronously with a total area of 293.7 hectares in less than 10 months.

This promises to become a new production centre of the Mekong Delta. It is expected that by the end of 2025, if the occupancy rate reaches 60%, VSIP will prepare procedures to apply for investment in VSIP Can Tho Industrial Park Phase 2, with a scale of 519 hectares.

At the end of 2024, the prime minister approved the investment policy for the project to invest in construction and business of infrastructure of Vinh Thanh Industrial Park (Phase 2). The project has an area of 540.58 hectares, with a total investment capital of 7.85 trillion according to the industry cluster model.

Investors are also interested in learning about the O Mon District High-Tech Industrial Park project, spanning about 250 hectares, and the Co Do-Thoi Lai Industrial Park, with an area of 1,070 hectares.

In October 2024, the irradiation plant in the Can Tho port area with a capacity of 19 trillion tonnes/year will officially come into operation, serving businesses exporting tra fish and shrimp to the US and European markets. Thermal power projects at the O Mon Power Centre are being vigorously implemented.

Industrial development in Can Tho has received a lot of attention from the government. Local authorities have also been decisive and resolute, issuing many policies to support attracting investment in industrial parks, creating favourable conditions for businesses to access land funds in industrial parks at reasonable costs and simplified administrative procedures.

However, Can Tho still faces many challenges. Currently, FDI attraction in Can Tho is quite modest. The economic restructuring is still slow with the proportion of economic sectors not changing significantly towards increasing added value. The development of transport infrastructure in recent times has not been commensurate and has not met the development requirements of the city.

The labour force is abundant, but the quality of labour has not met expectations. Many businesses face difficulties in recruiting highly skilled workers for specific industries, leading to increased costs for retraining human resources or having to hire experts from other regions.

The construction of industrial supply chains in Can Tho and connecting with neighbouring provinces faces many challenges due to the shortage of upstream supply sources and infrastructure limitations, reducing connectivity and the ability to develop a complete supply chain in the region.

To take advantage of the potential and opportunities for industrial development and create a solid foundation to enter the new era, Can Tho needs to focus on removing some bottlenecks.

Accordingly, it is necessary to focus on prioritising the development of a number of industries in the direction of meeting the principles of the city’s competitive advantages, with the ability to deeply participate in the global production network and value chain; synchronously invest and complete key projects with regional connectivity; create momentum for regional development; and lead and attract private capital to invest in the city’s strategic areas.

More attention should be paid to innovate and improve the quality of training facilities, focus on investing in developing technical facilities, improving the quality of management and teaching staff to create high-quality industrial resources.

Some experts believed that economic zones and industrial parks in the North and Central regions have successfully taken advantage of the trend towards resonance, support and mutual symbiosis in industrial development. This will also act as a worthy lesson for the Mekong Delta, especially Can Tho.

Project

Vietnam’s Mekong Delta province attracts 10 wind power projects worth $776 mln

Published

3 hours ago

March 16, 2025

Industrialzone.net

Vietnam’s Mekong Delta province of Bac Lieu attracted 10 wind power projects with a total investment of VND19.8 trillion ($776.3 million) at its investment promotion conference on Friday.

Bac Lieu authorities granted letters of interest and investment commitment documents to the 10 projects at the event, with a total capacity of 550 MW.

They are the 50 MW Hoa Binh 3, 50 MW Hoa Binh 2.1, 50 MW Hoa Binh 4, 50 MW Hoa Binh 6, 50 MW Hoa Binh 8, 80 MW Hoa Binh 5.1, 50 MW Dong Hai 1.3, 100 MW Dong Hai 13, 50 MW Dong Hai 3.1, and 30 MW Dong Hai 6.

The province also granted similar documents to seven others, bringing the total to 17 worth VND83.2 trillion ($3.26 billion).

Besides, investment registration certificates and in-principle approvals were handed over to nine projects worth VND2,387 billion ($93.6 million).

Deputy Prime Minister Tran Hong Ha speaks at Bac Lieu Investment Promotion Conference in Bac Lieu province, the Mekong Delta, southern Vietnam on March 7, 2025. Photo courtesy of the government's news portal. — Deputy Prime Minister Tran Hong Ha speaks at Bac Lieu Investment Promotion Conference in Bac Lieu province, the Mekong Delta, southern Vietnam on March 7, 2025. Photo courtesy of the government’s news portal.

Bac Lieu is now home to eight operational wind power plants of 470 MW, the third-highest figure among all localities in Vietnam.

It has also attracted one mega power project – a 3,200 MW LNG-fired power plant with the U.S.-based Delta Offshore Energy (DOE) as the investor.

According to the national power development plan VIII (PDP VIII), Bac Lieu has a wind power capacity of 741 MW. For the amended PDP VIII, which is being drafted by the Ministry of Industry and Trade, Bac Lieu has suggested a capacity of 1,000 MW of wind power, 500 MW of solar power, and 500 MWh of batteries.