Binh Thuan approves large industrial projects

A range of large industrial projects with total investment of more than $2 billion are to be implemented in the southern reaches of south-central Binh Thuan province, including La Gi town and Ham Tan district, turning the area into a provincial industrial center.

Attracting the most attention is the Becamex VSIP Binh Thuan industrial - service - urban zone in La Gi town and Ham Tan district. This is a joint venture between the Becamex IDC Corporation (Vietnam) and members of Sembcorp Development Ltd (Singapore), on 4,984 ha and with capital of up to VND18.84 trillion ($831.13 million). The project is expected to attract hundreds of domestic and foreign businesses, helping the province attract even more investment capital and bringing advantages to La Gi town and Ham Tan district.

In 2022, the Sonadezi Binh Thuan Shareholding Company (SZT) will implement a project to build and trade in infrastructure at the Tan Duc Industrial Park in La Gi town and Ham Tan district, with a scale of 300 ha and investment capital of VND1.2 trillion ($52.95 million).

In addition, the AES Corporation is about to implement a series of LNG power projects. Total investment stands at about $1.31 billion in what is the largest FDI project ever in Binh Thuan, and it is expected to contribute to local economic development.

Once these projects are completed, they will attract hundreds of domestic and foreign businesses and create thousands of jobs, according to Dr. Tran Nguyen Minh Hai from the Banking University of Ho Chi Minh City. Complexes, residential areas, and coastal real estate in service of tourism, resorts, logistics centers, industrial warehouses, etc. will also make a huge contribution to economic development in La Gi town.