- News in Vietnam
- 28 October 2021
A series of billion-dollar projects create momentum for La Gi
Large corporations such as AES (Virginia, USA), Becamex, Danh Khoi … have simultaneously invested in super projects with a total capital of 4 billion USD in La Gi town and Ham Tan district.
Series of super projects 4 billion USD
The Ministry of Industry and Trade recently signed a joint venture agreement to establish Son My LNG Terminal Co., Ltd between AES and PVGas Group in New York (USA).
Son My LNG terminal project is located in Son My commune, Ham Tan (bordering La Gi town), with a total estimated investment capital of 1.31 billion USD. The terminal’s capacity is 3.6 million tons per year, which is expected to be put into operation from the end of 2025. The project plays a vital role in ensuring the supply of liquefied petroleum gas (LNG) for the power generation needs of the critical economic region, particularly in the South.
Meanwhile, from 2020, Becamex has announced the implementation of Becamex VSIP Binh Thuan industrial park, service, and urban projects in La Gi and Ham Tan. This joint venture investment project between Becamex IDC Corporation (Vietnam) and companies led by Sembcorp Development (Singapore). The project has an area of up to 4,984 hectares. The industrial park has an area of 2,000 hectares, and the mega-city is nearly 3,000 hectares. This is the largest-scale project in the history of Binh Thuan.
La Gi market
Firstly, the Covid-19 epidemic caused a sharp change in the moving trend, leading to a change in the investment trend. Specifically, traditional resort markets such as Da Nang, Nha Trang, and Phu Quoc are losing their attractiveness. The new lands are about 1-2 hours away from Ho Chi Minh City to the throne. In particular, La Gi inherits the most advantages when it is located in the middle of the longest coastal road in Vietnam: Long Hai – Binh Chau – La Gi – Mui Ne with two ends being Long Thanh airport and Phan Thiet airport.
Second, traffic infrastructure works that are beneficial to La Gi’s development were simultaneously deployed. At present, Dau Giay – Phan Thiet expressway is the most critical key project. Among the areas of Binh Thuan with highways passing through, La Gi is the locality that benefits the most thanks to its location at the gateway of Binh Thuan – the first place where the road must pass before reaching Ke Ga and Mui Ne, Phan Thiet.
In addition to highways, Long Thanh and Phan Thiet airports are also accelerated. The two completed airports promise to bring millions of northern and international tourists to La Gi, increasing revenue from tourism.