Investment

Electricity of Vietnam (EVN) has begun construction of the Quang Trach I Thermal Power Plant in central Quang Binh province. With total investment of VND41.1 trillion ($1.8 billion), the plant will consist of two units with total installed capacity of 1,200 MW, which will provide the national power grid with 8.4 billion kWh annually when put into operation in 2025.

Construction of a coastal road in north-central Thanh Hoa province with total investment of VND2.2 trillion ($96 million) got underway on December 12. The road will link the northern coast from Quang Ninh province to Nghe An province, and create the conditions for Thanh Hoa to soon become a new growth pole, along with Hanoi, Hai Phong, and Quang Ninh, becoming an economic quadrangle in northern Vietnam.

The National Innovation Center (NIC) at the Ministry of Planning and Investment cooperated with the German Agency for International Cooperation (GIZ) to organize the “Research reports on developing a set of criteria for Vietnamese innovative enterprises” workshop on December 11. The research reports are expected to act as a supporting tool for Vietnamese enterprises in self-assessment and the identification of approaches to promote innovation and creativity, and thereby improve workplace productivity and product and service quality.

Hanoi will spend more than VND1.864 trillion ($80.9 million) on reducing traffic congestion in the 2021-2025 period. Expanding the public transport network, promoting the application of information technology in management and administration, and building an intelligent transport network are among the ten groups of tasks and solutions proposed by the capital.

The Ministry of Transport (MoT) has proposed a mechanism for implementing capital for railway infrastructure maintenance, separating regular maintenance and periodic repairs to speed up the process.

Northern Hai Phong city will build 15 new industrial zones in the 2012-2025 period, on a total area of more than 6,200 ha. The city holds many advantages over other localities, including having the best transport infrastructure in the country.