YCH Group, a leading logistics firm in Singapore, is exploring investment and cooperation opportunities related to strategic projects in the Lien Chieu port area, the central city of Danang.
The Lien Chieu port area, Danang city, central Vietnam. Photo by The Investor/Thanh Van.
At a Tuesday meeting with Danang’s Chairman Le Trung Chinh, YCH Group CEO Robert Yap highlighted that the company, founded in 1955, is a global leader in providing comprehensive supply chain management services. It serves as a logistics partner for major companies across industries such as high-tech, electronics, chemicals, health care, and consumer goods.
In Vietnam, YCH Group has partnered with multi-sector conglomerate T&T Group to develop the 83-hectare Vietnam SuperPort (VPS) multimodal logistics center in the northern province of Vinh Phuc.
The center, designed with a capacity of approximately 530,000 TEUs and a total investment of $166 million, is the largest of its kind in the country. VPS aims to enhance Vietnam’s integration into the global supply chain, reduce logistics costs, and improve the country’s competitive edge in international trade.
YCH is currently looking to explore additional investment opportunities for multimodal logistics centers in central and southern Vietnam. The company is also interested in potential collaborations in workforce training and logistics technology solutions, Yap added.
Given Danang’s strong economic potential and its strategic location for transportation and cargo transshipment, YCH is optimistic about the prospects of investing in a multimodal logistics center at Lien Chieu port, he remarked.
According to the city mayor, Lien Chieu port is strategically located at the end of the East-West Economic Corridor. It is being developed with an annual capacity of 50 million tons and covers an area of about 450 hectares, including both land and water surface. The Lien Chieu port area is planned to feature three docks: one for container cargo, one for general and bulk cargo, and another for liquid cargo and gas.
Chinh explained that Danang is focusing on developing the Lien Chieu port into an international gateway port, attracting major global shipping and logistics companies. The port will be capable of accommodating large vessels and facilitating container transportation and transshipment with other international ports.
Import and export goods can be directly shipped from Lien Chieu Port to European and American countries, reducing transportation costs, he said, adding it is expected to become one of the key ports in international shipping routes for large vessels, which will elevate Vietnam’s position in the global supply chain.
“The city appreciates YCH Group’s interest in exploring investment and cooperation opportunities in Danang. The local government is committed to supporting and creating favorable conditions, providing full information to facilitate the group’s research and implementation of strategic investment projects in the Lien Chieu port area,” Chinh emphasized.
According to the municipal Statistics Office, Danang attracted $8 million in FDI in the first two month of 2025, a year-on-year decrease of 63.8%. Among these, 14 new projects registered a total capital of $7.78 million.
The Vietnamese government has asked relevant agencies to speed up the progress of LNG-fired power projects towards completion and operation in 2028, earlier than the deadline specified in the power development plan VIII (PDP VIII).
In a recent announcement on amending the PDP VIII, the government noted that for projects with problems, the Ministry of Industry and Trade must help to solve them or report to higher authorities for solutions.
Nhon Trach 3 LNG-fired power plant in Dong Nai province, southern Vietnam. Photo courtesy of PV Power.
Regarding those already having investors, including LNG Quang Ninh, LNG Thai Binh, LNG Quang Trach II, phase 1 of LNG Hai Lang, LNG Son My I and LNG Son My II, and LNG O Mon II III IV, the trade ministry must speed up the progress to operate them in 2028. 2028 is two years earlier than the deadline in PDP VIII.
For project without investors yet such as LNG Quynh Lap, LNG Nghi Son, and LNG Ca Na, relevant agencies must accelerate the progress to complete them in Q1/2028 at the latest.
The government also requested that under-construction power projects must complete the construction and enter operation in 2025. These include the Nhon Trach 3 and Nhon Trach 4 LNG-fired power, Nam Cum 4 hydropower, expanded Hoa Binh hydropower, Vung Ang II thermal power, and Quang Trach I thermal power plants.
In addition, it ordered amendments to PDP VIII must be approved on March 20 at the latest. Electricity sources as baseload of the system must exceed 50% of the total in the amended PDP VIII, with the increase in LNG-fired power making up for the decrease in coal-fired power, the government added.
Vietnam currently has only one operational LNG-fired power project – the Nhon Trach 3 and Nhon Trach 4 in the southern province of Dong Nai.
In its draft amendment to the power development plan VIII (PDP VIII), the Ministry of Industry and Trade said that Vietnam can import LNG from major exporters such as Australia, the United States, and Qatar. In the long term, the country can consider LNG imports from Russia and other Middle East nations.
According to the draft amendment to PDP VIII, the electricity sector is set to consume 10-11.8 billion cubic meters of imported LNG yearly until 2030, then 9-11 billion cubic meters yearly by 2045.
The Hanoi Department of Industry and Trade (DOIT) held a ceremony on the evening of December 13 to honour the capital city’s key industrial products for 2024.
According to the DOIT, 160 businesses participated in the selection programme for Hanoi’s key industrial products in 2024.
The department then selected 36 products from 25 enterprises to submit to the municipal People’s Committee for recognition. Ten products from ten enterprises with the highest scores were recognised as the Top Ten Key Industrial Products of Hanoi for 2024.
Of the 25 enterprises whose products were recognised as key industrial products in 2024, eight companies achieved revenue exceeding 1 trillion VND, while ten were among Vietnam’s 500 largest enterprises in 2024, as announced by the Vietnam Report.
The 2024 revenue from the 36 products of these 25 enterprises reached nearly 50 trillion VND, with an export turnover of approximately 1 billion USD.
Speaking at the ceremony, the Deputy Director in charge of the DOIT, Nguyen Kieu Oanh, stated that Hanoi has implemented various programmes to support enterprises whose products have been recognised as the capital city’s key industrial products.
Additionally, enterprises participating in the programme have made efforts to apply scientific and technical advances in modern technology in production, increase automation levels, implement digital transformation, and build smart factory models.
Therefore, the products recognised as Hanoi’s key industrial products help affirm product credibility and enhance their brands in both domestic and international markets.
U.S.-based Pacifico Energy (PE) and France’s EDF have expressed strong interest in investing in Vietnam’s offshore wind and nuclear power sectors, respectively, as the country faces rising energy demands to support economic growth.
The proposals were presented during their talks with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Wednesday.
PE chairman Nate Franklin stated that the company is committed to expanding its investments in Vietnam’s energy sector, including multi-billion-USD offshore wind projects.
Vietnam’s Prime Minister Pham Minh Chinh (right) receives U.S.-based PE’s chairman Nate Franklin in Hanoi, March 12, 2025. Photo courtesy of the government’s news portal.
He emphasized that PE aims to introduce advanced solutions to help Vietnam enhance energy security, attract high-tech foreign direct investment (FDI), develop the semiconductor industry, supply power to data centers and AI training hubs, and drive fast and sustainable economic growth.
In response, PM Chinh encouraged PE to increase its investments and partner with Vietnamese businesses in the green transition, clean energy, and renewable energy sectors, particularly offshore wind and solar power.
He also urged the company to invest in Vietnam’s electricity grid and transmission infrastructure to strengthen the country’s energy security.
PE is among the leading U.S. investors in Vietnam’s renewable energy sector. In 2019, the company completed a 40 MW solar power project in the central province of Binh Thuan. It is also developing a 30 MW wind power project in the southern province of Ben Tre, which is expected to become operational in 2025.
During a separate discussion with PM Chinh, French Ambassador to Vietnam Olivier Brochet affirmed that electricity producer EDF intends to continue expanding its cooperation and investment in Vietnam’s energy sector, particularly in renewable energy and nuclear power projects.
Vietnam’s Prime Minister Pham Minh Chinh receives French Ambassador to Vietnam Olivier Brochet in Hanoi on March 12, 2025. Photo courtesy of the government’s news portal.
The Vietnamese leader noted that Vietnam has restarted investment plans for the Ninh Thuan 1 and Ninh Thuan 2 nuclear power plants in the central province of Ninh Thuan. He added that multiple partners have expressed interest in collaborating with Vietnam on nuclear energy development.
Vietnam will prioritize partners that commit to working alongside Vietnamese investors in technology transfer throughout the project development, Chinh stated.
The Prime Minister also called on France, and EDF in particular, to support Vietnam in developing policies and regulatory frameworks for nuclear power development.
He suggested exploring cooperation in human resource training, providing preferential financing for nuclear power projects, and investing in production of electrical equipment and supporting industries for Vietnam’s nuclear energy sector.
