Hoa Phat, Xuan Thien, VinEnergo, T&T pledge large-scale investments in central Vietnam province Dak Lak
Major Vietnamese conglomerates including Hoa Phat Group, Xuan Thien Group, VinEnergo, T&T Group and Sun Group have signed agreements to study and develop large-scale projects in Dak Lak province, as the central Vietnam province seeks to position itself as a renewable energy and industrial hub.
At an investment promotion conference on Saturday, provincial authorities granted in-principle approvals for 25 projects worth about VND40 trillion ($1.52 billion), while signing MoUs for 78 others with total proposed investment of more than VND1,000 trillion ($38.02 billion).
One of the investors receiving in-principle approvals for their projects in Dak Lak province, central Vietnam, June 27, 2026. Photo by The Investor/Nguyen Tri.
Renewable energy dominates investment pipeline
Renewable energy accounted for the largest share of both approved and proposed investments. Among the projects receiving in-principle approval were the 304-MW Srepok 3 floating solar power plant, with an investment of VND7.66 trillion ($291.29 million), and the 100-MW Thuan Phong Dak Lak wind farm (over VND3.84 trillion).
The first will be developed by KN Holdings subsidiary Srepok 3 Solar Power JSC, while the investors behind the second are a consortium comprising Thai Binh Duong Group JSC and Thuan Phong Energy Investment & Development JSC.
A consortium comprising Hoa Binh Energy Investment Group JSC and Nguyen Thao Wind Power JSC has been granted approval in principle for the NT1 and NT2 wind power projects, with a total capacity of 75 MW and an investment of VND3.81 trillion.
In addition, a consortium comprising Dakrong Hydropower JSC, Phong Lieu Wind Power JSC, Dakrong Dong Van Hydropower JSC, and Manh Viet Construction Consultancy Co., Ltd. will implement the Krong Nang 1.1 and 1.2 wind power projects (a combined capacity of 80 MW, nearly VND2.58 trillion or $98.02 million).
Among projects under study, Xuan Thien Group proposed studying wind and solar power plant projects with total capacity of 5 GW, alongside a high-tech livestock complex integrated with renewable energy (VND192 trillion or $7.3 billion).
VinEnergo plans to study renewable energy projects with combined capacity of around 6 GW (VND121.46 trillion).
T&T Group proposed mixed-use urban developments and renewable energy projects with combined investment of VND114.63 trillion.
Meanwhile, FLC Group is exploring investments in urban real estate, resort real estate, and renewable energy projects (a total of VND25 trillion or $950.57 million).
BIN Corporation has proposed investing in the Hoa Thanh Industrial Park, located within the South Phu Yen Economic Zone, and an AI data center complex powered by renewable energy (totalling nearly VND54.4 trillion or $2.07 billion).
Many other enterprises – such as Trung Nam, WPD Vietnam, Power Generation Corporation 3 (EVNGENCO3), and Vietnam Rubber Group – have registered to study wind and solar power projects, with investment scales ranging from thousands to tens of thousands of billions of dong (VND10,000 billion = $380.23 million) per project.
Nguyen Quoc Tuan, deputy CEO of Vingroup, said Vietnam’s electricity demand continues to rise rapidly while many conventional power projects and large-scale power projects face delays due to land clearance, fuel supply and transmission infrastructure constraints. “This makes ensuring national energy security a more urgent requirement than ever before.”
He said Dak Lak’s abundant land resources and favorable conditions for wind and solar generation provide an opportunity for the province to become one of Vietnam’s leading renewable energy centers.
Industrial, infrastructure projects also attract major investors
Beyond renewable energy, Dak Lak granted in-principle approval for several industrial park and urban area developments while signing MoUs for transport infrastructure, industrial, commercial and tourism projects.
Transport Engineering Construction Corporation No. 5 – JSC (Cienco 5) has been granted approval in principle to build the nearly 392-hectare Hoa Xuan Tay Industrial Park (VND4.7 trillion or $178.7 million).
Meanwhile, Capella Quang Nam JSC will develop the 425-hectare Hoa Xuan Dong Industrial Park (nearly VND3.81 trillion).
In the housing sector, Dak Lak awarded an investment decision for the An Phu Commune Social Housing project to Cloud Land JSC (VND2.58 trillion).
The Viet Phu An consortium – comprising Xuan Loc Real Estate JSC and Viet Phu An Construction Investment JSC – received approval to invest in the 27-hectare Hoa Thang Commune New Rural Residential Area project (nearly VND2 trillion).
Hoa Phat Group signed an agreement to implement a series of projects, including Hoa Tam Industrial Park, Bai Goc Port, a steel complex at the Hoa Tam Industrial Park, and supporting residential developments (over VND111.6 trillion).
Deo Ca Group proposed studying the Phu Yen-Dak Lak Expressway, estimated to require VND30 trillion ($1.14 billion) in investment.
Property developers including Sun Group, Ecopark Hai Duong, ROX Group, Kien A, APEC Group and Muong Thanh signed agreements to study urban, residential, resort and golf course developments worth from several trillion to tens of trillions of dong.
In the sectors of industry, commerce, services, and agriculture, Dak Lak has attracted the participation of numerous major enterprises.
A notable example is INDEL Investment and Development JSC, which is researching and proposing an investment in a petroleum and gas storage facility, located within the South Phu Yen Economic Zone (approximately VND5 trillion or $190 million).
Speaking at the event, General Phan Van Giang, Deputy Prime Minister and Minister of National Defence, asked Dak Lak to accelerate implementation of its provincial master plan, prioritize strategic public investment projects with strong regional connectivity and foster new growth drivers in high-tech agriculture, processing, forest economy, marine economy, logistics, science-technology, innovation, tourism and digital transformation.
He said the province should leverage its competitive advantages to develop into a major green energy and industrial center serving Vietnam’s south-central and Central Highlands regions, while calling on ministries to continue supporting strategic transport infrastructure connecting the province with seaports, airports and international border gates.
Phu Yen and Dak Lak provinces were merged last July to form the new Dak Lak which borders Gia Lai, Khanh Hoa and Lam Dong provinces, Cambodia, and the East Sea.
