In 2024, the Nghi Son Economic Zone and industrial parks attracted 13 new investment projects. To date, the Nghi Son Economic Zone has attracted 731 projects, including 75 FDI projects and 656 domestic investment projects.
With a production value exceeding VND 278 trillion, contributing VND 31.1 trillion to the state budget, and creating jobs for over 100,000 workers in 2024, these figures demonstrate the driving role of the Nghi Son Economic Zone (NESZ) and other industrial parks in the province for Thanh Hoa's economy.
The leading "birds"
The "heart" of the Nghi Son Refinery and Petrochemical Complex is continuing to beat strongly, ready to conquer new heights together with the province.
In 2024, operating beyond its designed capacity, Nghi Son Refinery and Petrochemical Company Limited successfully exported many petrochemical products made in Vietnam to the world . The plant contributed nearly 190,000 billion VND in production value, accounting for almost 68% of the production value of the Nghi Son Economic Zone and industrial parks; it also contributed over 24,700 billion VND to the state budget, playing a decisive role in bringing Thanh Hoa back into the "50,000 billion VND budget revenue club".
Kazutaka Yamato, General Director of Nghi Son Refinery and Petrochemical Company Limited, said: “Although we continue to face difficulties due to fluctuations in the petroleum market, we are still optimizing our capacity to achieve the highest production and business efficiency.”
Not only does the Nghi Son Refinery and Petrochemical Plant meet approximately 40% of Vietnam's energy needs, but it also acts as a driving force, spreading opportunities for local businesses to participate in developing input services. From mechanical equipment and supplies to maintenance and towing of crude oil tankers at sea, these services are supplied by businesses in Thanh Hoa province. This also provides an opportunity for local suppliers to continuously improve their capabilities and prepare for high-level services as they attract new investors.
For example, the tugboat services of PTSC Technical Services Joint Stock Company (PTSC Thanh Hoa) have safely towed over 7,000 vessels. The number of VLCCs (the world's largest crude oil tankers) successfully towed by PTSC Thanh Hoa has reached 200, ensuring its capacity to perform towing services for oversized and overweight vessels at Nghi Son Seaport.
Along with oil refining, the largest power plant in North Central Vietnam is connecting to the national grid, with double-digit growth in 2024. For example, the Nghi Son 2 BOT Thermal Power Plant generated 17,263 billion VND in production, supplied 7.8 billion kWh of electricity to the national grid, and contributed nearly 1,400 billion VND to the state budget.
Nghi Son also houses the VAS Nghi Son Steel Plant, producing high-tech steel products that meet Japanese (JIS) and American (ASTM) standards. VAS Steel is also proud to be the second Vietnamese steel brand to enter markets known for their stringent standards, such as Guatemala in Central America. In addition, the three cement plants in the Nghi Son Economic Zone – Dai Duong, Cong Thanh, and Nghi Son – with a capacity of 20 million tons per year, have made Thanh Hoa the "cement capital" of the country.
In particular, Nghi Son port, after nearly two centuries of aspiration and construction, has been inscribed on the international maritime map, with ships of CMA-CGM shipping goods to almost all continents around the world.
Overcoming market challenges, the successful operation of leading enterprises in 2024 yielded well-deserved results. The total value of goods produced by enterprises in the Nghi Son Economic Zone and industrial parks increased by 18%, tax contributions increased by 31% compared to the same period; export turnover reached 3.2 billion USD.
Embarking on a new growth path.
As Tet approaches, the Nghi Son industrial park and surrounding industrial zones remain bustling with new expectations for increased growth in 2025. This includes the Nghi Son Steel Mill No. 2 of VAS Nghi Son Group JSC, which is rushing through the final stages of connecting its power infrastructure to begin commercial operation in the first quarter of 2025. From here, the state-of-the-art DANIELI steel products from Italy will officially be offered. Not only will this project further strengthen the Nghi Son steel brand, but with a capacity of 3 million tons per year and a total investment of nearly 8,000 billion VND, it will also realize the goal of operating the Nghi Son Iron and Steel Complex in a synchronized manner as planned.
The Nghi Son High-Tech Mechanical Plant, specializing in metal components, mechanical processing, and installation of industrial machinery and equipment, with a designed capacity of 50,000 tons of products per year, is entering the final stages of production. With an existing export market spanning 50 countries and territories, and associated with iconic projects such as the Lusail Iconic Stadium, the 974-Ras Abu Aboud Stadium, Phnom Penh International Airport, and many other key national and international projects, the project is expected to generate approximately 3,000 billion VND in revenue annually, contribute hundreds of billions of VND to the national budget, and create jobs for 1,000 workers.
In the Bim Son Industrial Park, the Radial Tire Manufacturing Plant, with a total investment of approximately US$63.7 million and a capacity of over 960,000 products per year, is being developed. Phase 2 of the environmentally friendly decorative product manufacturing project by INTCO Vietnam Industrial Co., Ltd. is also nearing completion, preparing for official operation and bringing new industrial products from Thanh Hoa province to the global market.
These are the foundations that reinforce the determination that the Southern Economic Zone and industrial parks are aiming for in 2025, with the goal of achieving a production value of 290,000 billion VND, exports reaching 5 billion USD, state budget revenue of 30,000 billion VND, and creating additional jobs for approximately 5,500 people.
According to Bui Tuan Tu, Deputy Head of the Management Board of the Nghi Son Economic Zone and Industrial Parks: The goal of building and developing the Nghi Son Economic Zone into one of the key coastal urban, industrial, and service centers of the country is to steadfastly pursue a roadmap to attract leading industrial complexes, namely petrochemicals, thermal power, steel rolling, cement, and export processing. The Management Board of the Nghi Son Economic Zone and Industrial Parks is focusing on on-site investment promotion; strengthening the promotion of the investment and business environment through reputable information channels and integrating it with the province's diplomatic activities. Based on this, Thanh Hoa expects to attract investment in a focused and targeted manner from large domestic economic groups and investors from key markets such as Japan, Singapore, South Korea, the EU, Taiwan, the United States, Thailand, etc., with projects using high-tech, modern technologies and minimizing carbon emissions. Along with that, industrial parks with synchronous and modern infrastructure systems will be built and developed, creating favorable conditions to attract investment and form and develop "new Nghi Sons" - creating growth poles for the province's economy.
Text and photos: Minh Hang
Source: https://baothanhhoa.vn/dong-luc-tang-truong-xung-danh-dau-tau-237968.htm
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