Unveiling the Strategic Moves of Industry Giants in Khánh Hòa Province

Khánh Hòa is entering a rare transformative phase in its development history. The Resolution of the 1st Party Congress of Khánh Hòa Province for the 2025–2030 term sets a common goal: “Khánh Hòa is poised to enter a ‘decade of elevated development,’ aiming to become a centrally governed city by 2030; an international maritime tourism and service hub; a national and regional data center; achieving double-digit economic growth, and emerging as a high-growth pole for the entire country.”

The Resolution also outlines that by 2030, Khánh Hòa will have a synchronized, modern, and efficient infrastructure. The urban system will develop sustainably, rich in character, with some cities reaching international standards.

Creating Dynamic Urban Centers

In this context, major investors with strategies for multifunctional urban development and multi-experience tourism ecosystems have arrived in Khánh Hòa, sharing a common vision to fuel its development aspirations.

Initial successes are evident as projects worth trillions of dong begin to shape the new face of the central coastal urban area. Notably, the Nha Trang mixed-use urban area, with an investment of over 17,000 billion dong, broke ground in August 2025. In the future, the project will introduce smart eco-urban models, international entertainment parks, and unique living and resort spaces set against a riverside landscape.

In Vân Phong, the Đầm Môn New Urban Area project spans over 1,440 hectares with an investment of more than 25,645 billion dong; the Tu Bông New Urban Area covers over 2,579 hectares with an investment exceeding 43,000 billion dong. These projects bring great expectations for the transformation and rapid development of one of the country’s most promising economic zones.

In just the first eight months of the year, the province attracted 62 non-budget projects with a total registered capital of nearly 400 trillion dong. Strategic investment capital has truly arrived, promising to drive Khánh Hòa into a modern maritime economic center on par with the Asian region. Here, major corporations bring not only substantial financial resources but also management expertise and the capability to implement international-scale urban and service complexes.

When launching the mixed-use urban area in Nha Trang, designed as a space for both living and world-class entertainment and leisure, the leadership of Sun Group recognized that Khánh Hòa has all the conditions to become a new hub for tourism and modern maritime urban development.

“With a long-term development strategy in Khánh Hòa, Sun Group will continue to research, propose, and develop other key projects in transportation infrastructure, high-end tourism, and entertainment to maximize the province’s potential. We aim to create new, unique tourism products, enhance competitiveness, and elevate Khánh Hòa’s position on the international tourism map,” shared Mr. Đặng Minh Trường, Chairman of Sun Group.

Alongside the Nha Trang mixed-use urban area, a notable feature of new projects in central Nha Trang and Vân Phong is their comprehensive development approach. Strategic investors focus not only on commercial value but also on community benefits, from synchronized infrastructure and public spaces to local employment and the creation of iconic landmarks and unique tourism products that create a ripple effect for tourism and service businesses.

A riverside urban area in Nha Trang not only addresses housing needs but also creates riverside parks, open squares, and tourist boat docks. In Vân Phong, the development of a coastal urban area linked with deep-water ports, logistics, and international trade not only meets the housing needs of a high-skilled workforce but also transforms the area into a modern maritime economic center for the South Central Coast.

The quality of life for residents improves not only through income but also through new amenities: modern schools, international hospitals, shopping centers, cultural and entertainment spaces. People in Khánh Hòa gain more job opportunities and enjoy a higher, more civilized urban quality of life. Social welfare becomes an integral part of sustainable development strategies.

Khánh Hòa Aspires to Become the “Maritime Economic Capital”

The merger of Khánh Hòa and Ninh Thuận from July 1, 2025, opens up “new space for grand aspirations.” Assoc. Prof. Dr. Nguyễn Chu Hồi, National Assembly Deputy of the XV term and Vice Chairman of the Vietnam Fisheries Association, believes that if effectively leveraged, Khánh Hòa can become Vietnam’s “maritime economic capital,” similar to Busan in South Korea or Singapore in Southeast Asia.

The expert emphasizes three strategic pillars Khánh Hòa must focus on to turn potential into growth drivers: world-class maritime tourism, energy, and logistics-ports.

“Alongside these three pillars, the province will develop smart and green coastal urban chains, high-tech specialized agriculture, and a modern digital transportation infrastructure system. These will be powerful growth drivers for Khánh Hòa in the new era,” analyzed Assoc. Prof. Dr. Nguyễn Chu Hồi. He added that to achieve this, Khánh Hòa must attract major investors, prioritize strategic infrastructure development, and integrate cultural and island community development while protecting ecosystems.

Khánh Hòa sets a target for 2030 with an average GRDP growth rate of 11–12%; per capita GRDP will rank among the top 10 localities nationwide. These targets, when implemented, will pose significant challenges but also serve as strong motivation for Khánh Hòa to mobilize internal resources and attract strategic investors with substantial capabilities and a commitment to long-term, visionary development.

With clear commitments from the central government and the removal of policy and institutional barriers, Khánh Hòa will not only be a “land of potential” but also a development focal point, a livable maritime city with services, amenities, and infrastructure on par with international standards.

What is happening shows that Khánh Hòa’s ambitions go beyond becoming a centrally governed city. The grand vision is to become Asia’s leading livable maritime city, where synchronized infrastructure connects seamlessly, and high-end services and large-scale urban complexes position the locality as a new growth pole.

In this vision, the role of strategic investors is crucial. With bold ideas, large-scale projects, and practical implementation capabilities, Khánh Hòa hopes that the strong participation of these “eagles” with reputation and dedication will help the maritime city rise, becoming a new symbol of Vietnam’s development on the international map.

Phan Nam