Vietnam's largest private conglomerate Vingroup plans to begin construction on the $8.5 billion Can Gio reclaimed coastal urban development project in Ho Chi Minh City before April 30, as announced by a company representative during a meeting with municipal leaders on Thursday, where she urged expedited legal approvals.

According to Cao Thi Ha An, project development director of Vingroup, the company has completed several initial legal procedures, including detailed planning, an environmental impact assessment, and a feasibility study report.

However, to meet the scheduled groundbreaking date, Vingroup wishes that local authorities accelerate the remaining legal processes, An told the meeting.

The Can Gio land reclamation project covers 2,870 hectares in Long Hoa Commune and Can Thanh Town, Can Gio District.

It has been in planning for years, and in early 2024, city authorities approved its detailed zoning plan.

Initially spanning 600 hectares, the project’s investment scale was expanded in June 2020 to its current size, with an estimated total investment exceeding VND217 trillion ($8.5 billion).

Vingroup’s subsidiary, Can Gio Tourism Urban JSC, is the project's main investor.

An stated that its development is expected to take 11 years, with an operational period of 50 years.

The urban area is projected to accommodate up to 228,560 residents and attract approximately 8.9 million tourists annually.

The development is structured into five distinct functional zones, each serving a specific purpose.

Zone A will be an ecological residential area seamlessly integrated with tourism services.

Zone B will feature a mixed-use complex with residential neighborhoods, resorts, and essential public services, including healthcare, education, and administrative offices.

Zone C is envisioned as a financial, economic, and commercial hub, incorporating office buildings, a port, and a modern urban landscape with townhouses, villas, and high-rise apartments.

Zone D will be a high-end commercial and luxury resort area offering state-of-the-art urban amenities.

Zone E will focus on preserving natural elements, incorporating water surfaces, canals, and lush green landscapes.

Vingroup has also proposed a separate investment initiative to preserve Can Gio’s unique biosphere while transforming it into a world-class tourist destination.

This proposal emphasizes environmental conservation, forestry protection, and biodiversity preservation.

Deputy chairman of the city's administration Vo Van Hoan expressed support for the project and Vingroup’s vision of boosting tourism and economic growth while integrating with the Can Gio mangrove biosphere reserve.

He instructed relevant agencies to conduct further assessments of the group’s proposals to expedite their implementation.

Under Ho Chi Minh City’s 2021-30 development plan, with a long-term vision extending to 2050, Can Gio is set to become an ecological urban area that balances biosphere preservation with marine economic development.

Future investments include an international transshipment port in the District, expected to attract an additional US$6 billion in investment.

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