Trang tiếng Việt
Thanh Hoa attracts investments to foster economic growth PDF Print
Monday, 26 June 2017 15:36

VIETRADE – The central province of Thanh Hoa has been making great efforts to attract domestic and foreign investments in order to promote its economic growth and to become a model in investment attraction, local authorities have said.


“We invite local and foreign investors to the province and are committed to offering them the best conditions to operate their businesses,” chairman of the provincial People’s Committee Nguyen Dinh Xung told


Top priority for investment attraction in the time to come would be given to such industries of processing and manufacturing, agriculture, tourism, healthcare and urban and infrastructure development, he said.


By 2020, the province aims to be among the localities taking the lead in three aspects: having a comprehensive infrastructure to satisfy investors’ needs; giving investors the most competitive land rental and labor cost; and always tackling investors’ proposals in a timely manner.


In order to support investors and businesses to quickly address administrative procedures, the province was accelerating  the establishment of public administrative centers at provincial and district levels, and assigns the leaders of diverse state management agencies to directly work on tackling investor proposals, the chairman said, adding that local authorities organized direct meetings with firms’ leaders each month to help them unclog difficulties.


On May 19, the province granted investment certificates to thirty two projects with pledged capital totaling more than VND135.3 trillion (US$6.1 billion) at its investment promotion conference held in Sam Son City. The major investment promised to turn the north central coastal province into a destination for huge projects, mainly in the manufacturing and processing industries, urban development and tourism.


In his speech at the event, Prime Minister Nguyen Xuan Phuc said Thanh Hoa is a province with dynamic economic growth and potential destination for investors.


Prime Minister Nguyen Xuan Phuc called on hastened efforts to improve the investment environment and to ensure a level playing field for businesses, creating favorable conditions for firms to operate at low land-renting costs and with simplified administrative procedures.


He asserted that the Government would offer opportunities for Thanh Hoa to become a pioneer in accomplishing national goals and visions while encouraging businesses to invest in agriculture and infrastructure and diversifying services.


To increase enterprises’ competitiveness and to build a strong business community, the province should train skilled workers and help businesses make long-term investments and join the global value chain, he said./.


Thanh Hoa covers more than 11,000 square meters and has a population of 3.6 million people, ranking the fifth nationwide in natural area and the third in population.


The province provides a gateway linking the northern and the central region. It is about 150 kilometers from Hanoi, and owns a key northern economic zone, featuring a 192 kilometer border line and 102km coastal stretch.


Currently, it has eight industrial parks (IP) covering 2,036 hectares in total space, of which five IPs report a rather comprehensive infrastructure. Notably, Thanh Hoa is home to the 106,000ha Nghi Son Economic Zone (EZ),  one of five pivotal EZs inVietnamwhich enjoys the top investment incentives under government provisions.


Per capita average income was US$1,620 at the end of 2016, the highest level in the north central region. It is expected to reach US$1,750 in 2017.


The province is striving to record economic growth of 12% this year.


It is expected to be one of the 12 key national tourism cities according to the national tourism development master plan by 2020 and with a vision towards 2030.


Foreign investors, includingJapan, theRepublicofKorea,Taiwan, andSingapore, have poured US$10.65 billion into 90 projects on heavy industry, oil refinery, coal power and textiles as of March 2017. That helped the province rank ninth among 64 localities in term of foreign investment attraction./.


© 2011 Vietnam Trade Promotion Agency - VIETRADE
 This site best viewed with Google Chrome