Leverage to attract investment, expand exports

Thanh Hoa province's investment promotion delegation visited production technology at a factory in China in September 2024.

FDI flows surge thanks to active diplomacy

Since 2020, the Vietnam Fatherland Front, the Vietnam Union of Friendship Organizations, and socio -political organizations have organized more than 100 people-to-people diplomacy activities, paving the way for local economic development. This is a solid foundation for "soft diplomacy" to support "economic diplomacy" - combining cultural and people-to-people exchanges with trade promotion and calling for substantial investment.

Every year, Thanh Hoa province also carries out many activities to promote investment, trade, tourism and cultural exchange at home and abroad according to the foreign affairs plan. The province's working delegations not only promote the image, potential and development advantages of the locality to international partners, but also seek support in terms of resources, technology and markets to serve socio-economic development. In particular, the working delegations always focus on connecting with the Thanh Hoa community abroad, in order to propagate and mobilize overseas Vietnamese to preserve cultural identity, build a beautiful image of Thanh people and have many practical activities towards the homeland.

In addition, the province regularly organizes conferences, seminars, and meetings with FDI enterprises, welcomes international delegations and overseas Vietnamese to visit their homeland and explore investment opportunities. On the occasion of diplomatic relations with other countries, many friendly activities are organized, contributing to strengthening trust, attracting partners and enhancing Thanh Hoa's position in the international arena.

Thanks to that, from 2021 to now, Thanh Hoa has attracted 55 more FDI projects with a total registered capital of more than 831 million USD. Currently, the province has 173 valid FDI projects with a total capital of 15.2 billion USD, ranking 8th in the country. FDI enterprises currently contribute more than 50% of the budget revenue and create jobs for tens of thousands of workers. Large projects such as Sumitomo Corporation (Japan); WHA Industrial Park (Thailand); Nghi Son LNG Thermal Power Plant in the near future... promise to be a new driving force for the province's growth picture.

In addition to FDI capital, Thanh Hoa has also proactively mobilized aid sources, cooperated with more than 50 foreign non-governmental organizations, and implemented 60 programs and projects on hunger eradication, poverty reduction, natural disaster recovery, and climate change response.

According to Mr. Ishiguro Norihiko, Chairman of the Japan External Trade Organization (JETRO), Thanh Hoa is clearly demonstrating its goodwill and capacity in promoting cooperation with Japan in particular and international partners in general. The province's selection of practical and familiar contents in diplomatic activities has built trust and cohesion, demonstrating the image of a dynamic, goodwilled and promising locality.

"Touching the door" of a demanding market

The achievements in foreign affairs are not only reflected in investment figures, but also confirmed by the change in exports. The presence of many FDI enterprises is contributing to technology transfer, improving the value chain and paving the way for Thanh Hoa goods to penetrate deeper into the global supply chain. The province has also implemented many solutions to support enterprises to boost exports such as organizing fairs, exhibitions, connecting trade with partners in the EU, Japan, Korea, etc.; at the same time, promoting brand building for agricultural products, aquatic products, and handicrafts to increase added value and competitiveness.

Export production at Rollsport Shoes Vietnam Co., Ltd., Hoang Long Industrial Park.

Thanh Hoa's annual export value has achieved stable growth, fluctuating at 5 - 6 billion USD/year and exceeding 6.3 billion USD in 2024. Thanh Hoa's products are present in 68 countries and territories. In the first 5 months of 2025, export turnover reached 2.8 billion USD, up 23.8% over the same period. With more than 300 export enterprises, many Thanh Hoa products such as steel, cement, seafood, garments, etc. have begun to penetrate deeply and firmly into demanding markets. Participating in international promotion events, many enterprises in Thanh Hoa have sent clear messages about their export capacity and vision. Along with that, online trading activities and interactive promotion at fairs are the way Thanh Hoa systematically "touches the door" of demanding markets.

To realize the goal of making Thanh Hoa a bright spot in economic diplomacy, Thanh Hoa is synchronously implementing strategic solutions. First of all, it is focusing on attracting selective FDI projects, prioritizing high-tech, renewable energy, and supporting industries - industries with great potential for spillover and in line with sustainable development trends. Along with that, it is promoting international trade, increasing participation in specialized forums and exhibitions, and developing cross-border e-commerce to expand markets, reduce costs, and improve competitiveness.

Thanh Hoa is also continuing to invest in foreign infrastructure, from logistics, seaports, airports to the construction of a specialized and modern investment and trade promotion center. Administrative reform, policy transparency, and digitalization of investment licensing processes are key steps to help businesses, especially small and medium-sized enterprises, easily access international markets. In addition, training high-quality human resources and linking with international cooperation programs are also prerequisites for Thanh Hoa province to improve its long-term competitiveness.

Article and photos: Tung Lam

Source: https://baothanhhoa.vn/don-bay-thu-hut-dau-tu-mo-rong-xuat-khau-249783.htm