Bac Lieu's $16-18 Billion Development Plan Approved
Focus on Renewable Energy and Tourism Expansion
Deputy Prime Minister Tran Hong Ha has approved a $16-18 billion development plan for Bac Lieu, a Mekong Delta province, to be implemented by 2030. The plan centers on establishing Bac Lieu as the country's renewable energy export hub and developing the city and neighboring areas into a national tourism zone.
The master plan, detailed in Decision 968, aligns with the Prime Minister’s Decision 1598 from 2023, aiming for an annual GDP growth rate of 11.5 percent. The project will primarily use a public-private partnership mechanism, also welcoming foreign investments. Key infrastructure projects, such as highways and coastal roads connecting Bac Lieu to other regions, will receive priority, along with initiatives in renewable energy, agricultural processing, and digital transformation.
The investment is estimated at 400-450 trillion Vietnamese Dong, with 180-190 trillion Vietnamese Dong allocated for 2021-25 and 220-260 trillion Vietnamese Dong for 2026-30. Plans will be reviewed by 2025 to ensure alignment across various sectors, including urban development and land use.
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The master plan, detailed in Decision 968, aligns with the Prime Minister’s Decision 1598 from 2023, aiming for an annual GDP growth rate of 11.5 percent. The project will primarily use a public-private partnership mechanism, also welcoming foreign investments. Key infrastructure projects, such as highways and coastal roads connecting Bac Lieu to other regions, will receive priority, along with initiatives in renewable energy, agricultural processing, and digital transformation.
The investment is estimated at 400-450 trillion Vietnamese Dong, with 180-190 trillion Vietnamese Dong allocated for 2021-25 and 220-260 trillion Vietnamese Dong for 2026-30. Plans will be reviewed by 2025 to ensure alignment across various sectors, including urban development and land use.
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