Vietnamese group proposes $10bn coastal complex in Ca Mau

On Tuesday, Ca Mau Provincial Party secretary Nguyen Ho Hai and the Standing Committee of the Provincial Party Committee held a working session with Xuan Thien Group to review a presentation on the proposal for a large-scale project complex near the Hon Khoai Port area.

If approved in principle by the government, the project is expected to create jobs for around 100,000 workers and contribute tens of trillions of dong to the local budget each year.

At the meeting, vice-chairman of the Ca Mau People’s Committee Le Van Su introduced the province’s potential and advantages following an administrative merger on July 1, 2025, when Bac Lieu Province was merged into Ca Mau.

Ca Mau has more than 310 kilometers of coastline, giving it favorable conditions for developing the marine economy and aquaculture.

The province currently has more than 450,000 hectares dedicated to shrimp farming, earning it the reputation as the 'shrimp capital' of the Mekong Delta and of Vietnam as a whole.

In recent years, the province has received the central government's substantial investment in key infrastructure projects, including the expansion of Ca Mau Airport, the Ca Mau - Dat Mui Expressway, Hon Khoai Seaport, and the Hon Khoai sea bridge.

Once completed, these projects are expected to strengthen transportation and logistics connectivity, enabling goods to be exported directly through the dual-use Hon Khoai seaport.

On that basis, Nguyen Van Thien, chairman of the board of directors of Xuan Thien Group, said the company has studied Ca Mau’s potential for many years.

Given its favorable natural conditions, he believes the locality has strong potential for land reclamation to expand development space and build a circular economic chain in coastal areas.

Specifically, the group proposed investing in an industrial-agricultural complex integrated with urban areas, tourism, port logistics services, and energy infrastructure near the Hon Khoai Port area, covering a total area of more than 276,000 hectares and costing VND260 trillion.

According to the proposal, the project could generate approximately 197,400 hectares of cleared land for development under a closed-loop circular economy model.

Group leaders committed that if the project receives in-principle approval, the company will allocate funding to begin implementation in 2026, prioritize the employment of local workers, and participate in social welfare activities.

Acknowledging the proposal, secretary Hai stated that the province will facilitate the investor’s surveys and support the completion of necessary documentation before considering approval of the investment policy.

Regarding issues related to regulatory mechanisms and policies, the province will coordinate with relevant authorities to recommend that the central government consider appropriate mechanisms.