The Department of Planning and Investment in Binh Dinh, Vietnam, has proposed terminating a high-tech agricultural zone project aimed at shrimp development. This decision revolves around challenges faced by Thong Thuan Company Limited, the winning bidder, which has struggled to advance the initiative in My Thanh commune, Phu My district.

Project Background and Challenges

The project, initially approved by the Provincial People’s Committee in April 2023 and subsequently adjusted in July and September 2023, was envisioned as a significant endeavor spanning approximately 218.96 hectares. With an anticipated investment exceeding VND 1,177 billion (USD 46.43 million), it aimed to harness advanced agricultural technologies to bolster shrimp production. However, despite these ambitions, the project encountered insurmountable hurdles, prompting the investor to seek its cessation.

A representative from the Department of Planning and Investment shed light on the situation, attributing the project’s discontinuation request to mounting difficulties faced by Thong Thuan Company Limited. These challenges effectively stymied progress, necessitating the formal proposal for termination.

Implications and Economic Impact

The potential discontinuation of the high-tech agricultural zone for shrimp development raises pertinent questions about the future trajectory of aquaculture investments in Binh Dinh province.

In response to broader concerns regarding investment projects, the Department of Planning and Investment of Binh Dinh province has emphasized the need for expeditious compensation and site clearance processes.

As of late June 2024, only two localities, Quy Nhon City and Phu My District, have submitted reports addressing the committee’s directives on site clearance and compensation, indicative of ongoing challenges in administrative coordination.