The People’s Committee of Binh Dinh Province instructs agencies, departments, and local authorities to coordinate and expedite the process to ensure the completion of the bidding process for the aforementioned project by June 30.
Previously, at a press conference on the socio-economic situation in the first quarter, Mr. Lam Hai Giang, Vice Chairman of the Provincial People’s Committee of Binh Dinh, stated that the province had initiated procedures to revoke the project and was preparing to organize a bidding process to select a new investor.
An overview of the Urban, Tourism, Cultural, and Sports Complex at Phu Hoa Lake.
The Urban, Tourism, Cultural, and Sports Complex at Phu Hoa Lake spans over 300 hectares and is valued at VND 5,000 billion. The detailed 1/500 construction planning for this project was approved by the People’s Committee of Binh Dinh Province in July 2015. However, after a decade, the project remains unfinished and has been stagnant for most of that time.
According to our sources, in 2013, Phu Loc Group Joint Stock Company (Phu Loc Company, Ninh Binh) proposed to invest in two projects: the construction of Dien Bien Phu Road (extended) and the improvement of the drainage system at Phu Hoa Lake under the build-transfer (BT) format. In return, the province would provide the Urban, Tourism, Cultural, and Sports Complex at Phu Hoa Lake as counter-investment capital.
On July 1, 2014, Binh Dinh Province agreed to appoint Phu Loc Company as the investor for the two BT projects, with the Urban, Tourism, Cultural, and Sports Complex at Phu Hoa Lake serving as the payment project. The province also approved the simultaneous implementation of the two BT projects and the payment project. However, after the commencement of construction, the projects fell behind schedule and revealed numerous shortcomings in management and execution.
In 2023, the Management Board of Civil and Industrial Projects (now the Management Board of Transport and Civil Projects) of Binh Dinh Province submitted a proposal to the Provincial People’s Committee to terminate the contracts for the two BT projects. This decision was based on the investor’s violation of multiple contract clauses and the expiration of the contracts’ validity period.
“Quy Nhon: The Emerging Real Estate Epicenter of Central Vietnam”
The merger of Binh Dinh and Gia Lai provinces marks a pivotal moment for the South Central Coast and Central Highlands regions of Vietnam. This union has unleashed a new era of development, with Quy Nhon taking center stage as the focal point for investors. Strategically located and boasting breakthrough infrastructure, Quy Nhon is poised to become the heartbeat of this vibrant region.
Unlocking the Potential of Vietnam’s Central Coast: A Call to Action for Investors
An insightful analysis of provincial investment trends reveals a compelling opportunity for those with a keen eye.
Despite the fact that the nine central provinces of Vietnam boast a higher rate of public investment disbursement than the national average, three provinces, namely Phu Yen, Quang Ngai, and Quang Nam, are lagging and fall below this average.
Over 3,900 Affordable Homes Up for Sale This May
According to data from local construction departments, there were 24 projects with a total of 5,170 units eligible for the sale of future construction housing in 11 provinces and cities in May 2025. Social housing continues to dominate with 3,935 units.
“The Rise of Gia Lai and Quang Ngai: Forging Vietnam’s Next Economic Powerhouses”
On June 2nd, Party General Secretary To Lam and the Central Working Committee held a meeting with the Gia Lai Provincial Party Committee and the Binh Dinh Provincial Party Committee.
The Coastal Roads of Binh Dinh: A Picturesque Journey
Bình Định offers more than just pristine beaches with its stunning coastline and idyllic blue seas. The province boasts a plethora of breathtaking seaside routes, making it a haven for adventurous souls seeking unique experiences and off-the-beaten-path discoveries.
