The total FDI capital invested in the Nghi Son Economic Zone has reached approximately US$12.75 billion.
At the construction site of the Thang Long Thanh Hoa Industrial Park, Phase 1, a bustling atmosphere prevails. Hundreds of pieces of equipment and vehicles, along with hundreds of engineers and workers, have been mobilized to implement key infrastructure items such as the Tan Thanh canal renovation, the construction of an emergency reservoir, a wastewater collection system, and protective embankments. Just under two months after the commencement of construction, the volume of work completed has reached approximately 8% of the contract value. This is considered a significant step towards the early formation of a modern industrial park, serving to attract high-tech and supporting industry businesses developed by the Sumitomo Group.
Mr. Nguyen Minh Hai, Project Construction Director of LICOGI 18.3, said: “We are organizing continuous construction in 3 shifts and 4 teams, with the goal of starting to hand over the site to the investor from the beginning of the third quarter, so that it can be handed over to secondary investors to develop the factory. The company hopes to continue receiving clean site handover to ensure the overall progress of the project as committed to the investor.”
Many new FDI projects, immediately after receiving approval in principle, are urgently completing procedures to commence construction soon. A typical example is the Vietnam-India High-Tech Pharmaceutical Industrial Park Infrastructure Construction and Business Project, Phase 1, in the Nghi Son Economic Zone (NSEZ). The project, implemented by AnhPhatGroup Joint Stock Company and two investors from India, is expected to form a large-scale high-tech pharmaceutical manufacturing center in the North Central region.
Mr. Ramana Murthy, Director of Sri Avantika Contractors Co., Ltd. - one of the two Indian investors participating in the project, shared: "Thanh Hoa possesses many competitive advantages with its synchronized transportation infrastructure, deep-water seaport, convenient air connections, and dynamic investment environment. We highly appreciate the support of the local government throughout the project preparation process. After receiving investment approval, the company is focusing on completing legal procedures, implementing land clearance, and investing in technical infrastructure to soon attract secondary investors to the industrial park."
In the Bim Son Industrial Park, the Intco Medical Vietnam factory is also progressing well. The project has a total investment of VND 2,796 billion, with a production capacity of over 30,800 tons of medical gloves per year and approximately 2,250 tons of hot/cold packs per year. Currently, the project has completed all legal procedures and reached about 75% of the construction volume for its various components. It is expected to be completed and operational by November 2027. This is considered a significant project in expanding the industrial production chain for supporting industries and medical equipment in Thanh Hoa province.
The ASEAN Vietnam Ceramic Valley project is accelerating its completion and preparing for operation.
According to the Management Board of Nghi Son Economic Zone and Industrial Parks, the Nghi Son Economic Zone alone has attracted 25 FDI projects with a total registered capital of approximately US$12.882 billion, and implemented capital of approximately US$12.753 billion. This is a very high disbursement rate compared to many localities nationwide, reflecting the feasibility and actual effectiveness of the licensed projects. Many large-scale projects have come into operation and become important growth drivers for the province, such as the Nghi Son Refinery and Petrochemical Complex and the Nghi Son 2 BOT Thermal Power Plant. These projects not only create significant industrial production value but also contribute approximately VND 30,000 billion annually to the state budget, while creating jobs and promoting the development of the service, logistics, and supporting industry ecosystem.
Besides the Nghi Son Economic Zone, industrial parks in the province currently attract 51 FDI projects with a total registered capital of over 1.29 billion USD; the total implemented capital reaches approximately 809 million USD and over 10,142 billion VND. Many industrial parks are gradually becoming effective, transforming into new industrial growth hubs for the province.
Notably, in addition to projects already in operation, Thanh Hoa continues to welcome many large-scale projects that are completing procedures or conducting investment research. These include the Billion Union Vietnam Textile Factory with a total investment of approximately 1,750 billion VND, preparing to commence operations; the ASEAN Vietnam Ceramic Valley, preparing to operate with many famous products under the Hualian, Hong Guan Kiln, and Torch brands; and the WHA Smart Technology 2 Industrial Park - Thanh Hoa project, which is being promoted to attract international high-tech and supporting industry investment...
Amidst increasingly fierce competition among localities to attract investment, in the first four months of 2026, the province attracted $120.6 million in FDI capital, 4.8 times more than the same period last year. This is a result of the combined efforts of administrative procedure reform and the local government's commitment to supporting and resolving difficulties for businesses. Continuing to improve the investment environment, accelerating land clearance, completing industrial park infrastructure, and enhancing the quality of human resources—all of which Thanh Hoa is focusing on—will be decisive factors in maintaining the growth rate of FDI capital in the coming years.
Text and photos: Tung Lam
Source: https://baothanhhoa.vn/nhon-nhip-dong-von-fdi-287247.htm
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