Central Vietnam Economy - Identifying a new vision in a new development space

With a vast space and many potentials, Da Nang is spreading out on the highway to the sea. Photo : Ha Minh

New vision from business

There are spectacular leaps in attracting investment capital in the Central localities after the new space is shaped. In particular, the bold milestone is in the period from April 30, 2025 to August 19, 2025.

Previously, in this area, there were only projects worth hundreds of billions or thousands of billions of VND, but currently, the investment capital has "jumped" to tens of thousands of billions or hundreds of thousands of billions of VND for a project in the fields of transport infrastructure, urban real estate, logistics, metallurgy industry, mechanical engineering, renewable energy (wind power, solar power), tourism, and high-tech agriculture .

The localities that recorded the projects are Quang Tri, Dak Lak, Khanh Hoa, Lam Dong, Da Nang. Of which, Quang Tri with the 5,800 billion VND airport of T&T Group; My Thuy port project of nearly 5,000 billion VND phase I of My Thuy Port Joint Stock Company; 3 large-scale urban area projects with a total investment of more than 38,000 billion VND of Sun Group .

In Da Nang, Sun Group continuously "launched" large-scale projects such as Da Nang Downtown worth 80,000 billion VND, Ba Na - Suoi Mo Eco-tourism and Urban Complex worth 51,950 billion VND; Thaco with Chu Lai Truong Hai Automobile Mechanical Industrial Park expansion worth 1,433 billion VND. Vietnam Rubber Industry Group also began to concretize its investment plan in Da Nang by proposing a series of renewable energy projects, industrial parks and high-tech agriculture, with a total estimated capital of about 31,721 billion VND.

Da Nang has revealed its potential for a large-scale infrastructure ecosystem, creating development leverage with a series of key infrastructure projects: 1,881-hectare Free Trade Zone (FTZ); Lien Chieu Port and inter-regional transport system; International Finance Center (IFC); Da Nang High-Tech Park 3,656 hectares.

In Khanh Hoa, Sun Group continues its leading role with the Nha Trang City Mixed Urban Area of over 226 hectares, a total investment of over 17,000 billion VND and a series of new urban projects emerging such as Dam Mon (26,000 billion VND), Tu Bong New Urban Area (over 43,000 billion VND), Co Ma New High-end Urban Area (over 5,970 billion VND).

Rising in investment attraction, Dak Lak is perhaps the first locality to welcome large capital flows, with the mega-project of Hoa Phat Group. Mr. Tran Dinh Long, Chairman of the Group, said that Hoa Phat decided to invest 120,000 billion VND in Dak Lak from 2025 to 2030 in the fields of industrial park infrastructure, seaports and high-tech agriculture, focusing on Hoa Tam Industrial Park, Bai Goc Port...

The strong moves from investors were explained by economic expert Tran Du Lich as being based on legal tools such as approved national vision planning, regional planning, and local planning with a vision to 2050. Especially the spirit of determination, innovation, daring to think, daring to do, daring to make breakthroughs in key areas as suggested by the Central Government when the merger project was approved, announced and the new level of government came into operation.

“The potential distribution space in localities has always been there, still waiting for investment capital to awaken, but the conditions may not be ripe yet, so investors have not yet 'pressed the button'. When the necessary and sufficient conditions have converged, when the planning orients the vision, the opportunity comes and they seize the opportunity,” said Dr. Tran Dinh Thien, an economic expert.

According to Mr. Thien, that opportunity has been quietly nurtured by businesses through investment research, post-investment value... from the potential that the locality possesses, with new thinking, new strategies, new visions on scale, investment value, lasting value to compete with global brands present in Vietnam, in the region and internationally and especially the scale worthy of a new development space.

Evidence for the comments from economic experts are the shares from Mr. Do Quang Hien, Chairman of T&T; Mr. Dang Minh Truong, Chairman of Sun Group; Mr. Tran Dinh Long, Chairman of Hoa Phat, or Mr. Tran Ba Duong, Chairman of Thaco. At the events of launching and starting investment projects, they all committed to investment projects worthy of the locality and the country with a long-term vision for the future.

New vision from the local

A new mindset and vision from the business side is being established after breakthroughs to develop the country, which will also require local authorities to have similar, even superior, thinking, management and application to create attractiveness for investors to the locality, take advantage of investment resources, retain investors, develop the locality according to the Central direction and promote the leading role of the region according to the strengths in economic fields.

Before merging administrative units to open up new development space and streamline the leadership apparatus of new localities in an elite direction, able to undertake immediate and long-term tasks, the Central Government paid special attention through working sessions and appointed stable local leadership personnel in the direction of long-term development strategies.

Working directly with the leaders of Da Nang and Quang Nam (old) at the end of March 2025, General Secretary To Lam stated that building a new Da Nang must become a growth pole of Vietnam, with high competitiveness in the Asia - Pacific region. A new Da Nang, a new development space, needs to clearly define its own strategic role and advantages - such as an industrial and logistics development pole (Chu Lai), a cultural - ecological tourism center (Hoi An - My Son), a high-tech agricultural area; a national center for innovation, high technology and startups...

Later, at the working session with the leaders of Quang Ngai and Kon Tum (old), General Secretary To Lam suggested that after the merger, Quang Ngai needs to link innovation with specific fields such as agriculture, industry, smart cities, tourism and services. Prioritize the development of organic agriculture, forestry economy, medicinal economy, with a focus on Ngoc Linh ginseng and endemic precious medicinal species, fruit trees, cold-climate vegetables and flowers, industrial crops. Form concentrated raw material areas associated with deep processing, creating goods with high added value for export.

Regarding Gia Lai, General Secretary To Lam said that with its favorable geographical location, Gia Lai has convenient regional connections, connecting the highlands and the coast through National Highway 19 and the Quy Nhon - Pleiku Expressway, which will form an East - West economic corridor capable of creating breakthroughs in logistics, transportation and trade.

In Quang Tri, the General Secretary pointed out that the new province owns a large-scale infrastructure network including the North-South expressway, high-speed railway, Dong Hoi airport and Quang Tri airport (under construction), Hon La and My Thuy ports. This is an ideal condition for developing logistics centers, supporting industries, freight transit and renewable energy on the East-West and North-South corridors.

From the directions and orientations of General Secretary To Lam and the Central Committees, ministries and branches, at the Congress of Party Committees of provinces and cities in the Central region, these directions and suggestions were identified as the guiding principles for the action program of the Party Committee and local government for the 2025-2030 term with the target of GRDP growth of over 10%/year.

Source: https://baodautu.vn/kinh-te-mien-trung---nhan-dien-tam-nhin-moi-trong-khong-giant-phat-trien-moi-d415563.html