Rice land sets its own record in attracting FDI
According to the assessment, never before has FDI attraction in Thai Binh province been as prosperous as in 2023. If from 1987 (the first time the Law on Foreign Investment in Vietnam was promulgated) to 2020, the total FDI attraction of this locality only reached nearly 800 million USD, then from 2021 to now, the total FDI attraction of the province has reached 4.1 billion USD. Of which, in 2023 alone, it reached nearly 3 billion USD, nearly 4.4 times higher than the same period in 2022.
With this result, Thai Binh is proud to be in the top 5 nationwide with big provinces and cities such as Ho Chi Minh City, Hai Phong, Quang Ninh...
To achieve such an impressive breakthrough, in 2023, Thai Binh has attracted many large projects such as: VSIP Thai Binh Industrial Park Project with a total estimated investment of nearly 212 million USD; Pegavision Vietnam factory project producing contact lenses for Pegavision Corporation with a total investment of 200 million USD; soju factory project in Lien Ha Thai Industrial Park with a total investment of 100 million USD; investment project to produce conversion ports, connection devices, computer equipment with a total investment of 45 million USD by Goodway Cayman Company Limited and a factory project focusing on manufacturing and processing all kinds of LED lights and LED components with a total investment of 25 million USD by Longstar Lighting Xiamen Company Limited...
Most recently, at the Vietnam - Japan economic forum held in Tokyo, witnessed by Prime Minister Pham Minh Chinh, the Secretary of Thai Binh Provincial Party Committee awarded the Investment Registration Certificate for the Thai Binh LNG Thermal Power Plant project to the consortium of Tokyo Gas Company, North Kyuden Power Company (Japan) and Truong Thanh Vietnam Group Joint Stock Company.
This is a large-scale project with a capacity of 1,500 MW and a total investment of nearly 2 billion USD. The project is of great significance, once put into operation it will promote the socio-economic development of Thai Binh province, enhance the economic scale as well as the position of the province, and contribute to ensuring national energy security.
Success is not by accident
"With the motto of considering the investor's work as the province's work; always accompanying, supporting, creating the most favorable conditions for investors when they come to research, survey and implement projects as well as throughout the process of production and business activities in the province, Thai Binh has resolutely built and improved the investment and business environment, provincial competitiveness index (PCI), promoted investment promotion activities; at the same time, well prepared the necessary conditions, especially infrastructure, land, human resources... ready to meet the needs of investors.
Along with that, the province is gradually planning and calling on investors to build social infrastructure projects to create the best living environment to attract workers and experts to work and live long-term in Thai Binh," the leader of Thai Binh province shared his experience to achieve impressive FDI attraction figures in 2023.
The strong rise in investment attraction of Thai Binh is also reflected in the effectiveness of promoting existing advantages such as: Advantages of land fund for industrial development, with 10 Industrial Parks, including 4 Industrial Parks in Thai Binh Economic Zone and 49 Industrial Clusters formed in 8 districts and cities with a total area of nearly 3,000 hectares, cleared land and built infrastructure, always ready to welcome domestic and foreign investors.
Thai Binh Economic Zone with an area of 30,583 hectares, including 22 Industrial Parks with an area of 8,020 hectares of industrial land being actively constructed; favorable geographical location, about 35km from Cat Bi International Airport (Hai Phong), about 50km from Lach Huyen International Seaport...
Mr. Do Van Lan - Director of the Center for Investment Support, Promotion and Development of Thai Binh province, said: "To facilitate investment promotion activities abroad, we have advised the Provincial People's Committee to establish a working group to promote and support investment in Korea (Korea Desk Thai Binh) and the Korean Investment Promotion Office in Thai Binh province in Seoul; actively prepare good conditions for the Provincial Party Committee, People's Council, and Provincial People's Committee to organize provincial working delegations to promote investment in Japan, Korea, Australia, New Zealand, the UK...
In particular, in early December 2023, we also actively coordinated with agencies, units, and localities to advise the province to successfully organize the cultural exchange program - connecting Vietnamese - Korean businesses "Thai Binh Homecoming Day". Thereby contributing to enhancing exchange, understanding, and cooperation in the economic, cultural, and social fields while promoting investment attraction in the province".
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