Thanh Hoa expects to successfully attract 30 billion USD of direct investment capital

Thanh Hoa is a province with an important strategic position in the economic development of the North Central region in particular and the country in general. Thanh Hoa province has made many efforts to attract investment and achieved remarkable results. After the initial period of many difficulties, moving to the period 2011 – 2018, followed by the years 2018-2022, there have been many sources of investment capital in Thanh Hoa, in which FDI capital plays a major role.oh significantly.

Thanh Hoa is one of the attractive destinations for foreign investors. In addition, construction activities are also being actively implemented such as: Nghi Son 2 BOT Thermal Power Plant project, Pig breed production and trading farm area and processing of safe high-quality commercial pig farming at Northern region of Vietnam, Nomura Garment Factory, South Asia Textile and Garment Manufacturing and Trading Factory Garments…

Since the end of 2019, the Covid-19 pandemic has had a strong impact on attracting FDI to Thanh Hoa province in particular and the country in general, the number of projects and registered investment capital has also gradually decreased since 2020.By 2022…

However, compared to the Central provinces, Thanh Hoa is still the leading locality with 24% of the total registered capital of the whole region (Thanh Hoa Provincial People’s Committee, 2023). This success is considered to be the result of Thanh Hoa province’s process of promoting administrative procedure reform, improving the business investment environment, publicizing planning, improving infrastructure, training and preparing. Human Resources. In particular, the Politburo’s issuance of Resolution No. 58-NQ/TW on building and developing Thanh Hoa province to 2030, with a vision to 2045, has created momentum, which is likened to ” “magnet” that attracts investors, especially foreign investment (Central Executive Committeeng, 2020).

Regarding this issue, Mr. Nguyen Van Thi, Standing Vice Chairman of Thanh Hoa Provincial People’s Committee said:

We are always deeply aware that: “The success of the business is also the success of the province. The benefits of the business are the immediate and long-term goals of Thanh Hoa province.” Thanh Hoa province is committed to fully implementing Responsible for investors coming to Thanh Hoa; always accompanying and creating the best favorable conditions for businesses and investors in the process of implementing highly effective projects in the province. Thanh Hoa.

Thanh Hoa expects to successfully attract 30 billion USD of direct investment capital

Currently, foreign affairs activities associated with investment promotion have been promoted by Thanh Hoa province and relevant levels and sectors. Provincial leaders received and worked with a number of banks, corporations, and large investors such as: World Bank, DIC Group, SAB Group, Sovico Group, WHA Group, TH Group Joint Stock Company … Along with promoting potential and introducing industries, occupations, and projects that are prioritized to attract investment, provincial leaders also learned, listened, shared, and resolved difficulties to promote activities. Encouraging investment in the area for many large and key projects, such as: Nghi Son LNG Gas Power Plant; Duc Giang Chemical Factory; Lam Son – Sao Vang Industrial Park Investment Construction and Infrastructure Exploitation Project; Phu Quy Industrial Park investment project; Quang Thanh Trade Center; Golf course construction investment project in the southwest of Thanh Hoa city…

At the Management Board of Nghi Son Economic Zone and Provincial Industrial Parks, from the beginning of 2024, the board has chaired and coordinated with departments and branches to welcome 2 delegations of foreign investors and 3 delegations of domestic investors. Incoming countries explore investment opportunities in Thanh Hoa.

According to data from the Department of Planning and Investment, in the first quarter of this year, the whole province attracted 25 direct investment projects; including 4 foreign direct investment projects with total registered investment capital of more than 3,400 billion VND and 60.6 million USD, an increase of 75.5% over the same period. Projects registered for investment this year are present in all regions of the province from the plains, coastal to mountainous areas and are concentrated in the fields of industry, handicrafts, services, and agriculture. , mining… Along with the support work of Thanh Hoa province, many new investment projects and industrial projects have also been completed and put into operation.

In particular, with investment promotion efforts, in 2024, Thanh Hoa’s FDI attraction is expected to flourish with many new large-scale projects such as: Nghi Son LNG Gas Power Plant (registered investment capital of about 2 .5 billion USD), City West Industrial Park project. Thanh Hoa of Sumitomo Group (400 million USD); Aeon Mall Commercial Center project (170 million USD), 2 industrial park projects of WHA Group (110 million USD)…

Notably, the LNG Gas Power Plant Project with an investment scale of about 2.5 to 3 billion USD is prioritized for investment in the period 2021-2030 and is currently attracting the attention of 5 large investor groups. world-class and is expected to become a new driving force for Thanh Hoa’s energy industry. This is the third largest project of Thanh Hoa province, after the Nghi Son Refinery and Petrochemical Plant project and the Nghi Son 2 BOT Thermal Power Plant project. Investor selection for the project is expected to be carried out in the second quarter of 2024 and the investment work is expected to be completed before 2030.

Along with that, the Western City Industrial Park Project. Sumitomo Group’s Thanh Hoa is expected to also be granted an investment certificate in 2024. Recently, Sumitomo Corporation has shown deep interest in the development and operation of this project with the expected development area. is expected to be 650 hectares and a logistics and urban center around the industrial park with an expected development area of ​​about 168.5 hectares. The project is expected to be implemented in the period 2024-2025, with a total capital of more than 400 million USD.

Thanh Hoa hopes to successfully attract 30 billion USD of direct investment capital in the period 2021-2025. In particular, the goal will be to approach and promote 3 – 6 companies that own original technology in the top 500 transnational companies in the world. In addition to traditional areas such as Japan, Korea, Kuwait… the markets of America, Europe, Russia, and large corporations from developed countries are being targeted. With a strong “catalyst” from promotion and foreign affairs activities, it is expected that Thanh Hoa will receive more high-quality capital flows in the very near future.

Le Nam