The south central province of Ninh Thuan boasts favourable conditions to attract investment in marine economy and coastal industries, as it is one of Vietnam’s major fishing grounds with a coastline stretching 105 km.

Chairman of the provincial People’s Committee Tran Quoc Nam said thanks to specialised mechanisms and policies, Ninh Thuan has drawn attention from strategic investors, especially for coastal areas. 

To create momentum for growth, Ninh Thuan has taken an initiative in building a power development plan for 2016-25, with consideration to 2035, and joined hands with ministries and sectors to add new advantage fields to the national planning, particularly coastal and offshore wind power, deep-water seaports and logistics, in a bid to call for investments. 

Local authorities have viewed offshore industries among priorities to develop the marine economy. They have worked to attract investment in large-scale industrial projects applying advanced technology.

By the end of 2021, Ninh Thuan had granted investment licences to 47 marine industrial projects with a combined registered capital of more than 2 trillion VND (87.65 million USD). To date, 25 projects worth 651 billion VND have come into operation.

The province also calls for investments in infrastructure of coastal industrial parks in line with the establishment and development of an ocean economic hub, especially in the southern key economic zone.

It has exerted efforts to capitalise on advantages in fisheries development and carry out a project reorganising exploitation activities.

Of note, the province has become a shrimp breeding hub of the country, meeting more than 30 percent of nationwide demand annually and successfully building its brand.

It has issued a tourism development mechanism and promoted tourism investment in coastal localities. As of late 2021, 23 projects totalling over 16 trillion VND had received approval of the provincial People’s Committee, which are hoped to build a coastal tourism brand for the province.

Ninh Thuan has set a target to post a marine economic growth rate of 15-16 percent per year by 2025, with sea-based economic sectors accounting for 41-42 percent of the province's gross domestic product, and mobilise up to 62 trillion VND for investment in marine economy.

To meet the goal, priorities will be given to the fields of energy, renewable energy; urban development;; coastal tourism and sea services, among others.

The province will speed up the first phase of the Ca Na liquefied natural gas (LNG) complex project of 1,500 MW and move towards the establishment of the Ca Na power centre of 6,000 MW in coming years.

It aims to welcome 3.5 million tourists by 2025, of whom 13 percent are foreigners, bringing in about 2.9 trillion VND./.