Economy
Hà Nội approves $29 billion boulevard project along Red River
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| Deputy Prime Minister Nguyễn Văn Thắng and delegates press the ceremonial button to break ground on the Điện Biên Phủ Cultural Historical Tourism Cable Car Complex. — VNA/VNS Photo |
ĐIỆN BIÊN — The People’s Committee of Điện Biên Province, in collaboration with Sun Group, held the ground-breaking ceremony for the Điện Biên Phủ Cultural Historical Tourism Cable Car Complex on May 10 in Mường Phăng Commune during the 2026 Điện Biên Investment Promotion Conference from May 10-11.
Speaking at the event, Deputy Prime Minister Nguyễn Văn Thắng praised Sun Group’s investment decision to support Điện Biên in creating new tourism products.
According to the deputy PM, the implementation of the cable car project will help attract broader business interest and position Điện Biên as a new investment highlight in Việt Nam’s northwest region.
Đặng Minh Trường, chairman of project investor Sun Group, said the site spans about 35 hectares across Mường Phăng and Pu Nhi communes.
With an estimated first phase investment of almost VNĐ2.1 trillion, the project consists of a modern single-cable ropeway stretching more than five kilometres to the peak of Pu Tó Cọ mountain, with a projected capacity of up to 2,500 passengers per hour.
Situated at nearly 1,700 metres above sea level in the forests of Mường Phăng, Pu Tó Cọ has in recent years become an increasingly popular destination among nature lovers and adventure travellers.
The project is expected to take five years from the date the investor is allocated or leased land by the State to complete construction and begin operations. It will run for 70 years from the date of land allocation, lease or land-use conversion approval.
Secretary of the Party Committee of Điện Biên Province Trần Tiến Dũng said that the province would prioritise land clearance work and streamline administrative procedures to accelerate project implementation.
“Điện Biên Province is committed to building an open, transparent and favourable investment environment while accompanying businesses throughout the entire implementation process,” he said. — VNS
