Prime Minister Pham Minh Chinh at the Son My No.1 Industrial Park Groundbreaking Ceremony in Binh Thuan Province on Tuesday. — VNA/VNS Photo

A 1,070 ha Son My No.1 Industrial Park in the south central province of Binh Thuan has begun construction on August 30.

The park, located in Ham Tan District, will cost VND2.3 trillion (US$98 million) by the time it is finished in 2025.

Built by the Son My Industrial Park Investment Construction and Trading Infrastructure Co. Ltd, the park is connected with key national routes such as National Highway 1A, National Highway 55 and the Phan Thiet – Dau Giay Expressway.

Speaking at the groundbreaking ceremony, Prime Minister Pham Minh Chinh urged the developer to comply with the law, ensure safety at the construction site and complete it on schedule.

The multi-sector industrial park will focus on energy and electricity, building materials, electronics, information technology, machinery, manufacturing, forestry, and food processing.

It will have two 4,500MW gas-fired power projects, Son My I and II, and a 100ha port to handle LNG.

Chinh said Viet Nam is striving to become an upper-middle income country by 2030 and a developed country with a high per capita income by 2045.

In pursuit of that goal, he highlighted the importance of promoting spearhead industries with a focus on digital transformation, digital economy, green conversion, circular economy, and adaption to climate change.

The industrial park will need to solicit investment in wind and solar energy and manufacturing, he said. — VNS