BINH THUAN (Vietnam News/Asia News Network): A 1,070ha Son My No.1 Industrial Park in the south central province of Binh Thuan has begun construction on Aug 30.
The park, located in Ham Tan District, will cost VNĐ12.3 trillion (US$524.2 million) by the time it is finished in 2025.
Built by the Son My Industrial Park Investment Construction and Trading Infrastructure Co. Ltd, the park is connected with key national routes such as National Highway 1A, National Highway 55 and the Phan Thiết – Dầu Giây Expressway.
Speaking at the groundbreaking ceremony, Prime Minister Phạm Minh Chính urged the developer to comply with the law, ensure safety at the construction site and complete it on schedule.
The multi-sector industrial park will focus on energy and electricity, building materials, electronics, information technology, machinery, manufacturing, forestry, and food processing.
It will have two 4,500MW gas-fired power projects, Son My I and II, and a 100ha port to handle LNG.
Chính said Vietnam is striving to become an upper-middle income country by 2030 and a developed country with a high per capita income by 2045.
In pursuit of that goal, he highlighted the importance of promoting spearhead industries with a focus on digital transformation, digital economy, green conversion, circular economy, and adaption to climate change.
The industrial park will need to solicit investment in wind and solar energy and manufacturing, he said.