The 1,070-hectare Son My I Industrial Park (IP), located in Binh Thuan province, promises to be a bright spot for investment and a pioneer in advancing the development of the country’s energy industry.

The construction kick-off ceremony was witnessed by Prime Minister Pham Minh Chinh, Vice State President Vo Thi Anh Xuan, Vice Chairman of the National Assembly Tran Quang Phuong, and other representatives of the government, as well as local departments and agencies.

Prime Minister Pham Minh Chinh and local leaders attended the groundbreaking ceremony of Son My I Industrial Park

At the ceremony, Prime Minister Chinh instructed relevant departments and central agencies to strengthen efforts “to support the province, resolve difficulties, harness its advantages, and create favourable conditions to optimise progress of the IP.”

PM Chinh surveying the grounds at Son My I Industrial Park with local leaders and others

According to Le Tuan Phong, Chairman of Binh Thuan People’s Committee, Son My I IP is one of nine industrial parks in the province that have been approved by the prime minister.

Phong said that the current investment in and development of the park’s infrastructure is expected to attract additional investment for future industrial production projects. This will contribute to the province’s industrial development, build on its natural advantages, and reshape its economic structure by increasing the construction industry’s contribution to regional GDP.

These developments will be a driving force for socioeconomic growth in the southern region of the province, Phong added, supporting the successful implementation of the resolution of the 14th Provincial Party Congress for 2020-2025.

Le Quang Hieu, vice chairman of IPICO, said that Son My I is classified as one of the large-scale IPs both in Binh Thuan and the whole of Vietnam.

“Aiming to become a smart and friendly IP with a sustainable energy centre at its core, Son My I will prioritise the development of renewable and clean energy which will reduce carbon and greenhouse gas emissions,” said Hieu.

Representatives of IPICO offer gifts to support the local community

In addition, he added, the location of Son My I is suitable for the development of an integrated seaport serving export-import of local goods and agricultural products. Upon approval, Son My I and its seaport will play a strategic role in the region and become the new major economic driving force in Binh Thuan as well as in the south-central Vietnam key economic zone.

Representatives from big energy and warehouse groups such as AES Vietnam, EDF, and Boskalis at the ceremony

Found in Ham Tan district, Son My I has a strategic location with direct links to major national infrastructure networks including National Highway No.1A, National Highway No. 55, and Phan Thiet-Dau Giay Expressway.

It is also easily accessible by airways as well as domestic and international waterways, and will be a vital gateway that connects the key southern economic zones.

The project’s infrastructure will be aligned with international standards, apply innovative technology, and adopt the latest carbon emission standards. These unique competitive advantages help to differentiate Son My I as an attractive home for export businesses.

Son My I IP is zoned in four land use functions, including land for enterprises and factories, service centre areas, technical infrastructure areas, and green land and water areas.

The park’s two liquefied natural gas (LNG) power plants, Son My 1 and Son My 2, are a key highlight, with a total capacity of 4500MW and covering an area of 200ha.

In addition, it will also include a 100-ha LNG warehouse port and 430ha for supporting industries.

In emphasising sustainability throughout its development journey, Son My I will actively support Vietnam’s net-zero commitments through careful policies and practices.

The park will have a subdivision specialising in the production of auxiliary equipment for the development of green energy industries.

Additionally, over 30 per cent of the total land area will be set aside for technical infrastructure, utility constructions, and industrial service zones, as well as key amenities for workers such as educational, training, medical, healthcare, and office facilities.

In particular, Son My I prioritises high-tech and clean industries which reduce carbon and greenhouse gas emissions and seek to lessen its reliance on fossil fuels by using green and renewable energy sources such as wind, solar, and LNG.

Thanks to its strategic location, international-quality infrastructure, and an open and favourable investment environment, the park has already attracted leading international and domestic investors.

Among those are PetroVietnam Gas JSC, a unit of state-run Vietnam Oil and Gas Group, AES Group from the United States, and a consortium of Électricité De France with Japanese groups Sojitz Corporation, Pacific Corporation, and Kyushu Electric Power.

As one of the most critical projects that will play a pivotal role in promoting energy industry development in Binh Thuan and raising the province’s position in the national growth roadmap, Son My I has received full support from the state as well as the local authorities to ensure the project’s timely progress.

Combined with IPICO’s expertise and dedication, Son My I IP is targeted to have construction complete by 2025. Targeting large-scale projects with investment capital of billions of US dollars located within the park, once in operation, Son My I promises to become the centre of economic development for Binh Thuan as well as for neighbouring areas.

The park is also expected to create job opportunities for thousands of workers, improving the quality of life for local communities as well as setting the stage for Binh Thuan’s favourable growth trajectory.

Founded in 2017, IPICO aims to promote regional economic development, improve the quality of life for local communities, and conserve the environment. It strives to create optimal market conditions for global and local investment partners, bring prosperity to customers, and commit to serving the community while driving the next chapter of Vietnam’s sustainable growth story.