Investment

A project to upgrade the Cai Mep - Thi Vai channel in southern Ba Ria-Vung Tau province from buoy No.0 to the Cai Mep container port has been approved by the Ministry of Transport, with total investment of VND1.414 trillion ($60.4 million) coming from the medium-term public investment plan for the 2021-2025 period.

The Ministry of Transport has said that, in the immediate future, south-central Ninh Thuan province will set aside some VND5 trillion ($213.2 million) to invest in three transitional projects from the previous phase and begin a new project to upgrade the section of the Nha Trang-Ho Chi Minh City railway line passing through the province.

After stagnating for nearly 20 years, the 131-km Yen Vien - Cai Lan railway project, passing through Hanoi and Bac Ninh, Hai Duong, and Quang Ninh provinces, has been reborn, with a Project Management Board reviewing and adjusting the pre-feasibility study for investment in the 2026-2030 period.

The Vietnam Oil and Gas Group (PetroVietnam) has proposed that the government invest in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products at the Long Son Petroleum Industrial Park in southern Ba Ria-Vung Tau province with total investment of $17-18.5 billion. Completion is expected in 2027.

Expansions to the Nguyen Tat Thanh arterial coastal route around Da Nang Bay, costing VND500 billion ($21.3 million), have attracted many large-scale resort projects, creating a driver for the real estate market in the northwest of the bay.

The northern port city of Hai Phong holds substantial potential in tourism and boasts many famous scenic spots but is yet to receive adequate investment and remains fairly obscure on Vietnam’s tourist map. The city has recently established a special working group on tourism development to create breakthroughs in the industry.