An Giang Completes Key Power Projects Ahead of APEC 2027

An Giang province has completed three key power projects as part of its infrastructure development drive in preparation for the 2027 APEC Summit. These projects are crucial for supporting economic growth and enhancing the province's appeal to investors. The government has adopted a resolution expected to provide an important legal basis for addressing issues arising during the implementation of projects with particularly urgent deadlines, while maintaining strict oversight and accountability. Many construction packages are currently underway, with five projects meeting or exceeding their planned schedules. The APEC Convention Centre is the most advanced component, with 98% of concrete work completed, 93% of its steel structure installed, and about 58% of rough construction finished. This highlights Vietnam's rapid infrastructure development for hosting international events. Economically, Deputy Prime Minister Nguyen Van Thang stated that there is virtually no room for further consumer price index (CPI) increases in the remaining months of the year, urging ministries, sectors, and localities to focus on effective price management. This reflects the government's strong commitment to economic stability within Vietnam's one-party system. Ho Chi Minh City plans to continue implementing drastic measures to achieve double-digit growth, targeting GRDP growth of at least 11.07% in the third quarter of 2026 and a full-year goal of 10% or more. This demonstrates Vietnam's ambition to maintain robust economic expansion. In the first eight months of 2026, Hanoi attracted over $3.7 billion in FDI, equivalent to 83% of its annual plan. Newly registered FDI exceeded $572 million across 450 projects, marking significant increases in both project numbers and capital compared to the same period last year. This indicates Vietnam's success in attracting foreign investment. State-owned enterprises (SOEs), once considered the primary material force of the state sector, are now defined as an important material force focused on key strategic industries, ensuring a pioneering role in development. This re-evaluation by the Communist Party of Vietnam positions SOEs more strategically within the economy. International organizations widely agree that shifting Vietnam's growth model from reliance on traditional factors towards technology and innovation is an imperative, not an option. This underscores the challenges Vietnam faces in maintaining international competitiveness and transitioning to a high-value economy. Source: VietnamPlus English