Promoting investment attraction to develop Ninh Co Economic Zone

Ninh Co Economic Zone (EZ) was approved by the Prime Minister to be established under Decision No. 88/QDTTg dated January 14, 2025, marking an important turning point in the development of the marine economy of Ninh Binh province, while opening up a strong opportunity for the locality to break through to become a new coastal economic center of the Red River Delta, contributing to the early realization of the aspiration to turn the coastal area of the Gulf of Tonkin into an area of rapid and sustainable economic growth of the whole country.

Ninh Co Economic Zone is oriented to be built into a coastal economic zone, a breakthrough development focus of the province.

Outstanding strategic investment attraction advantage

In the context that localities in the region such as Bac Ninh, Hai Duong , Hai Phong are gradually running out of land for industrial development, Ninh Co Economic Zone has emerged as an investment attraction thanks to its 13,950ha land fund; most of which is managed by the State, convenient for recovery and infrastructure development. The area spans the communes of Hai Thinh, Hai Xuan, Rang Dong, Quy Nhat and coastal alluvial grounds, located in the extreme south of Ninh Binh province - an important trade gateway connecting the growth triangle of Hanoi-Hai Phong-Quang Ninh and the economic belt of the Gulf of Tonkin.

This is a trade gateway that effectively connects with major economic centers of the country and Northeast Asia, China. The outstanding strength of the EZ is the synchronous transport infrastructure system: road, waterway, sea and air, connecting with the routes: North-South Expressway, Ninh Binh-Hai Phong-Quang Ninh; waterway transport routes Lach Giang-Hanoi, Cua Day-Ninh Binh and international seaports and airports such as Noi Bai, Cat Bi.

Ninh Co Economic Zone also has rich natural resources including land, water, forest, sea, favorable for the development of high-tech agriculture, industry, aquaculture and ecotourism, sea and island. The river system is planned with special channels, opening up space for the development of a comprehensive seaport to receive ships up to 300,000 DWT. This is a solid foundation for the formation of industrial parks (IPs) for energy, processing industry, textiles, logistics and seaport services.

At the same time, the area is also rich in tourism potential with Thinh Long and Rang Dong resorts, mangrove forests, coastal alluvial plains and a rich system of historical and cultural relics. The population of the area is about 67 thousand people (in 2021), forecast to increase to 114 thousand - 125 thousand people by 2040. The rate of trained workers is expected to reach 85% by 2035, this is an important advantage in human resources to welcome strategic investors in the near future. Reality shows that Ninh Co Economic Zone has a strong investment attraction since before it was approved. The total registered capital of projects has reached about 216 thousand billion VND (equivalent to 9.2 billion USD).

Typical examples include: Nam Dinh 1 BOT Thermal Power Plant with a total investment of VND 46.98 trillion (equivalent to more than USD 2 billion); Rang Dong Industrial Park infrastructure development project with VND 4.92 trillion (equivalent to USD 203 million) and projects of nearly VND 100 trillion of Xuan Thien Group... Notably, recently (June 23), Xuan Thien Green Steel Project Complex with a scale of more than 400 hectares, with a capacity of 9.5 million tons of steel/year, total capital of VND 98 trillion was started by Xuan Thien Group.

Of which, Xuan Thien Nam Dinh Green Steel Factory No. 1 has a capacity of 7.5 million tons/year (88 trillion VND); Xuan Thien Nghia Hung Green Steel Factory produces steel from scrap (2 million tons/year, capital of 10 trillion VND). The steel production complex is a pioneer in applying electric arc furnace technology, using LNG gas and moving towards green hydrogen, reducing CO2 emissions by 86%, in line with Vietnam's commitment at COP26, creating a line of "clean steel" products that can be exported to high-end markets, contributing to a breakthrough in local socio-economic development and being a great driving force for Ninh Co Economic Zone.

More and more large, high-tech enterprises have been investing in Rang Dong Textile Industrial Park, contributing to the formation and development of Ninh Co Economic Zone into a comprehensive, multi-industry, multi-functional coastal economic zone.

Well-planned, ready to break through to attract investment

According to the Prime Minister's direction in Decision 88/QD-TTg, the development of Ninh Co Economic Zone will be carried out in 3 phases: Phase I (2024-2026), completing the general planning, detailed planning 1/2000, starting construction of key infrastructure projects.

Phase II (2026-2030), focusing on developing industry, services, urban areas, synchronizing technical-social infrastructure. Phase III (after 2030), comprehensively developing and modernizing the infrastructure of the economic zone. The province aims to develop into a modern multi-industry coastal economic zone by 2030, focusing on: Construction materials industry (green steel, cement), clean energy, logistics, seaports, trade, tourism, high-tech agriculture and fishery.

In the period of 2026-2030, the economic zone is expected to grow 14-15% per year, creating jobs for about 55,000 people; budget revenue is about 3,000 billion VND; the rate of trained workers is 80%. The total capital demand for the development of Ninh Co Economic Zone in the period of 2021-2050 is expected to be about 237,870 billion VND.

Of which, the 2021-2030 period is 83,500 billion VND (79,500 billion VND for key projects, 4,000 billion VND for social infrastructure); the 2031-2050 period is about 154,340 billion VND. Capital mobilization structure: 10-15% from the State budget, the remaining 85-90% from socialization. The province has allocated 2,500 billion VND from the State budget in the 2021-2023 period; the remaining demand until 2030 is 5,852 billion VND, including: 700 billion VND from the Central budget, 3,500 billion VND from the provincial budget and 1,652 billion VND from the budgets of localities in the project area.

For effective implementation, the province has proactively consulted the experience of similar coastal economic zones, restructured investment resources, promoted divergence, and prioritized key projects. At the same time, it has focused on improving the investment environment, reforming administrative procedures, strengthening investment promotion, establishing relations with international organizations, strategic investors, and expanding cooperation under the PPP and ODA methods.

In the field, the infrastructure of Ninh Co Economic Zone is gradually taking shape with important projects: Lach Giang estuary renovation project (in operation since 2016), allowing 1,000-3,000-ton ships to travel from the sea to the mainland. The Day-Ninh Co canal project (put into operation at the end of July 2023, with a total capital of VND 2,300 billion) helps optimize the investment efficiency of maritime routes through Lach Giang estuary.

Maritime transport in the province and the Northern region is flourishing, and cargo output is forecast to increase rapidly thanks to the wave of FDI investment pouring into the region. The vital road network is being invested in, connecting regional economic centers and coastal districts with the national transport system, creating favorable conditions for the development of industrial parks, industrial clusters and coastal urban areas.

Nguyen Hoang Anh, Head of the Provincial Economic Zone and Industrial Zones Management Board, shared: After the Prime Minister decided to establish the Economic Zone, the number of investors coming to learn about and promote investment has increased, especially in areas such as processing industry, supporting industry, logistics, and resort tourism. Currently, departments, branches and localities are also focusing on closely following the roadmap and plan as required by the Prime Minister as stipulated in Decision No. 88/QD-TTg, resolutely and effectively implementing all tasks to promote the development of the Economic Zone with a spirit of urgency, synchronization and efficiency.

In the immediate future, priority will be given to ensuring the progress and quality of key tasks of Phase I (until 2026). Special attention will be paid to completing the master plan and 1/2000 construction plan of functional subdivisions (industrial parks, seaports, tourism-service areas, new urban areas, etc.). Accelerating the construction of key infrastructure: coastal roads, provincial roads, seaports; completing key projects such as the Green Steel Complex and the phase 1 general seaport. Focusing on attracting investment, especially in Rang Dong Textile Industrial Park, preparing clean land, resettlement areas and providing the best support for businesses.

Localities within Ninh Co Economic Zone have been closely coordinating and actively preparing the best infrastructure, land fund, policy mechanisms, actively supporting businesses to access investment procedures conveniently and quickly, ready to welcome the new wave of investment. With clear planning, gradually completed infrastructure, open and transparent investment attraction policies, with the synchronous participation of authorities at all levels and strong commitment from strategic investors, Ninh Co Economic Zone is gradually realizing the goal of becoming a new coastal economic center of the Red River Delta, creating a strong momentum to bring Ninh Binh into a new era of growth.

Article and photos: Thanh Thuy

Source: https://baoninhbinh.org.vn/thuc-day-thu-hut-dau-tu-phat-trien-khu-kinh-te-ninh-co-144454.htm