German renewable energy developer Pure New Energy’s (PNE) $4.6 billion Hon Trau wind power project in Vietnam’s south-central province of Binh Dinh is classified as a nearshore wind power project.
Ho Quoc Dung, chief of Binh Dinh’s Party Committee, made the statement at a Wednesday meeting with PNE. Binh Dinh province is committed to helping PNE in solving issues and deploying the project, he added.
As the project is now a nearshore wind power project, its feasibility is “very likely” to be endorsed as the Ministry of Industry and Trade will soon allocate wind power quota to Binh Dinh, Dung highlighted.
Ho Quoc Dung (right, second), chief of Binh Din’s Party Committee, and PNE CEO Heiko Wuttke (left, second) at a meeting in Binh Dinh province, central Vietnam on March 5, 2025. Photo courtesy of Binh Dinh news portal.
For his part, Binh Dinh Chairman Pham Anh Tuan clarified that Hon Trau project was originally classified as an offshore wind power project. But the updated legal framework per the Electricity Law 2024 classified it as a nearshore one. This change will speed up the project implementation, he noted.
Binh Dinh had already suggested the trade ministry and the Prime Minister add Hon Trau project’s first phase of 750 MW to the amended Power development plan VIII (PDP VIII). The amendments are subject to approval this month, Tuan affirmed.
In reply, PNE CEO Heiko Wuttke said he expects the wind power quota, to be allocated to Binh Dinh and featuring both nearshore and land-based power, will include a portion for PNE project. PNE strives to cooperate with Binh Dinh authorities to deploy the project “as soon as possible,” he emphasized.
PNE started studying the $4.6 billion Hon Trau offshore wind power project in Vietnam in 2019. In November 2022, the company and the central coastal province of Binh Dinh signed a memorandum of understanding to deploy the project.
According to PNE, the project will be executed on Hon Trau island, 10 kilometers off the coast of De Gi estuary. The project is designed to have a capacity of 2,000 MW and be implemented in three phases. Some 50 turbines are slated to be installed in each phase.
Hung Yen Province’s index of industrial production in the first nine months of 2024 rose by 10.59% over the same period last year, according to the provincial statistics office.
Specifically, the manufacturing sector grew by 10.10%, electricity generation and distribution increased by 11.96%, while water supply and waste treatment surged by 26.46%.
Strong output growth was seen in several industries, such as clothes, iron and steel, multifunctional engines, washing machines, air conditioners, motorbikes and bicycles.
Hung Yen is home to 584 foreign-invested projects with over 7.6 billion USD in pledges.
Major foreign investors are Japan (3.8 billion USD in 176 projects), China (1.2 billion USD in 155 projects), and the Republic of Korea (928 million USD in 155 projects).
Budget revenue in Hung Yen Province was estimated at over 30 trillion VND (1.2 billion USD) in the first three quarters, up 26.78% year on year and equivalent to 93.16% of the full-year target.
Domestic revenue was estimated at 27 trillion VND, while revenue from export and import activities was 3.28 trillion VND.
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.
The Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) coordinated with relevant units to organise the Green Business Forum with the theme “Sustainable logistics solutions in industrial transformation: From factories to industrial parks and seaports”, on September 24.
This is an important event to promote sustainable logistics solutions, accompanying the green and sustainable economic development strategy of Ho Chi Minh City.
At the forum, experts said that in the current context, preventing and responding to climate change and reducing greenhouse effects are becoming increasingly important and a common global responsibility.
Towards the goal of “zero net emissions”, Vietnam has shaped the trend of green economic development as an inevitable goal in the development process.
Cao Thi Phi Van, IPTC Deputy Director, said that ten days ago, Ho Chi Minh City issued the Green Growth Action Plan for 2024-2030 to implement the National Strategy on Green Growth towards sustainable development in Ho Chi Minh City for 2021-2030.
Accordingly, the City aims to promote a circular economy, reduce greenhouse gas emissions, respond to climate change and contribute to the goal of hunger eradication and poverty reduction, thereby creating momentum for sustainable economic growth.
At the forum, speakers focused on presenting and discussing topics on sustainable logistics and green industry development. Specifically, green finance, green growth orientation in the logistics sector, and industrial transformation practices for sustainable development in the future.
Also, at the forum, speakers proposed sustainable development solutions in the logistics industry, such as solutions related to autonomous energy and efficient means of transport, solutions from technology and integrated solutions in the logistics industry, and investors and green solution providers.
