The Vietnamese Ministry of Planning and Investment, on the prime minister’s authority, on Sunday gave the investment certificate for an urban area project with a registered investment of nearly VND85.3 trillion (US$3.6 billion) in Cam Ranh Bay in the south-central province of Khanh Hoa.
The investment certificate was granted at a conference to announce the provincial planning and investment plan in Khanh Hoa.
The project was designed to cover some 1,300 hectares of land and accommodate 230,800 people.
Upon completion, it will include around 8,500 detached houses, 10,700 villas, and 19,800 social houses.
At the conference, the People’s Committee of Khanh Hoa also gave the investment certificates for eight projects with combined registered capital of VND31.3 trillion ($1.3 billion).
They are mainly social housing, tourism-services, and industrial production projects.
In addition, the province inked memoranda of understanding with 16 investors who will study the feasibility of industrial park, traffic infrastructure, social housing, tourism, seafood farming, and information technology projects at an estimated cost of VND80.6 trillion ($3.4 trillion).