Unveiling the Power Players: The Prime Minister’s Vision for a $200 Million Project Revolution by 2030

Prime Minister Inspects Lien Chieu Port Project

On September 1st, as part of his work program in Da Nang, Prime Minister Pham Minh Chinh inspected and examined the progress of the construction of shared infrastructure at Lien Chieu Port and the coastal road connecting Lien Chieu Port.

Lien Chieu Port is a key project that Da Nang is calling for investment. It is also one of Vietnam’s three deep-water ports, planned as a special port capable of accommodating general cargo and bulk carriers of up to 100,000 tons, and container ships with a capacity of 6,000 to 8,000 TEU.

The port project consists of two components. Component A, the shared infrastructure, has an investment cost of over VND 3,400 billion, funded by the central budget and the city. The construction began in late 2022, and as of now, the completed work volume has reached 67%, with a corresponding contract value of approximately VND 1,770 billion, meeting the planned progress.

Regarding the coastal road connecting Lien Chieu Port, the total investment for this component is VND 1,203 billion, sourced from the central and city budgets. The construction commenced in September 2023, and currently, the completed work volume accounts for 33% of the contract value.

During the site inspection, Prime Minister Pham Minh Chinh applauded the progress made in the construction of shared infrastructure at Lien Chieu Port and the coastal road connecting the port. He urged Da Nang city, relevant ministries, businesses, and investors to demonstrate greater determination, resoluteness, and effort to expedite the completion of the shared infrastructure and the coastal road connecting Lien Chieu Port before August 30, 2025.

The Prime Minister emphasized the construction of Lien Chieu Port as a dual-use port with multi-sectoral and multi-field functions. He also highlighted the importance of thoroughly assessing the environmental impact, long-term strategic planning, and the possibility of phased investment. Additionally, he stressed the need to focus on implementing connectivity projects, mobilizing resources from the central and local budgets, as well as from investors.

Major Corporations Show Interest in Investing in Lien Chieu Port

Regarding the selection of investors for the port construction, many experienced and financially capable domestic and foreign port operators have expressed their interest in participating in the Lien Chieu Port project.

Prime Minister Pham Minh Chinh revealed that several prominent investors, including India’s Adani Group and Japan’s Sumitomo Group, are among those showing keen interest in the Lien Chieu Port project.

“This demonstrates the highly strategic location of Lien Chieu Port in terms of logistics. Therefore, we must create an even more attractive investment environment for this area,” the Prime Minister stated. He also noted that the rapid implementation of the Lien Chieu Port project relies not only on domestic resources but also on external resources.

The Prime Minister instructed that the selection of investors should be based on their capacity to undertake the construction and operation of the port, ensuring transparency and compliance with legal regulations. The aim is to choose an investor with the best plan, who will take primary responsibility, and who can collaborate with other enterprises for the project’s execution.

For additional context, Adani Group is India’s largest infrastructure and energy conglomerate. They own 14 of India’s largest private ports, accounting for 25% of India’s port capacity, and seven of the country’s airports. In 2023, the group’s revenue reached approximately USD 33 billion, with a profit of about USD 2.9 billion, and a global workforce of 29,000 employees.

Sumitomo Group, on the other hand, is one of Japan’s leading retail and investment conglomerates, focusing on metal products, transportation, infrastructure, communications and digital technology, lifestyle, real estate, mineral resources, energy, chemicals, and electronics. With over 100 offices in 60 countries worldwide, the group comprises more than 900 subsidiary companies and employs 80,000 people.