Building Thai Binh into the region's industrial development center

The planning of Thai Binh province for the period 2021 - 2030, with a vision to 2050, has been approved by the Prime Minister. Looking at the direction and plan for industrial development, many experts believe that Thai Binh will soon become one of the industrial development centers of the Red River Delta.

Top Performance Vietnam Co., Ltd. invested in building a hardware factory in Quynh Giao Industrial Park (Quynh Phu).

Great ambition

In order to realize the aspiration of building a prosperous Thai Binh, the Provincial Planning has clearly defined the vision and destination. In particular, the province focuses on developing industry and urban economy as a driving force to promote the development of other economic sectors. The goal set by 2030 is for Thai Binh to become a locality in the fairly developed group and one of the industrial development centers of the Red River Delta; with a modern economic structure with industry as the main driving force for growth. Specifically, the average economic growth rate in the period of 2021 - 2030 will reach 13.4%/year, of which industry - construction will increase by 18%/year; in terms of economic structure, by 2030 industry - construction will account for about 62.1% of the province's total economic sector.

Commenting on the development goals, Mr. Vu Ngoc Khieu, former Director of the Department of Industry and Trade, said: With a favorable geographical location, abundant and high-quality human resources, a large sea area, rich mineral resources, and constantly invested synchronous and modern transport infrastructure, Thai Binh's goal of developing the industrial sector by 2030 is completely feasible and appropriate. Not only that, the Party Committee and the provincial government also have great aspirations when planning with a vision to 2050, Thai Binh is a developed province of the Red River Delta; with a prosperous economy, progressive society and a guaranteed ecological environment. Economic growth is based on the foundation of science and technology, innovation and highly competitive pillar economic sectors. That is both the will and desire of every citizen, so I believe Thai Binh will successfully implement the Provincial Planning.

Strategic direction

Based on the viewpoint of not trading the environment for the economy, the Provincial Planning for the period 2021 - 2030, with a vision to 2050, clearly states: Developing industry in a modern direction, with advanced technology and high added value; participating deeply and comprehensively in the production network and global value chain. Encouraging investment in developing industries with strengths and the ability to create breakthroughs for the locality such as energy, mechanics, processing, manufacturing, high-tech industry, electricity, electronics; processing of agricultural, forestry and fishery products... Continuing to maintain light industries, creating many jobs, ensuring social security such as textiles, footwear, handicrafts...

The province will also focus on researching and developing wind power and gas power to create clean power sources; invest in building a Condensate processing plant (a liquid hydrocarbon mixture mainly used to produce gasoline, industrial solvents and as raw materials for petrochemical complexes); and prepare all conditions to build and put into operation the Thai Binh LNG Thermal Power Plant.

Mr. Tran Ngoc Giang, Head of Energy Management Department (Department of Industry and Trade) said: From an energy perspective, this is a strategic policy because the projects, in addition to directly bringing production and business value, also ensure sufficient energy supply to serve the industrial development of the province as well as the region and the whole country in the long term.

Production of medical protective gear at Envinronstar Group Co., Ltd. in Cau Nghin Industrial Park (Quynh Phu).

Developing industrial ecosystems

When studying the Provincial Planning for the period 2021 - 2030, with a vision to 2050, many people assess that Thai Binh will have a diverse ecosystem for industrial development. First of all, Thai Binh Economic Zone continues to be invested in, built and developed into a key area, a driving force for the province's economic development in a multi-sector and multi-sector direction. In particular, the province plans to prioritize the development of industrial parks (IPs) - urban areas - services, the Northern IP and other IPs in Thai Binh Economic Zone have many favorable conditions for infrastructure connection, investment attraction, and the formation of high-tech IPs - urban areas - services.

Thai Binh has a system of industrial parks and industrial clusters (IPs) developed throughout the area to promote the efficiency of the connecting traffic system and serve socio-economic development, improving people's lives. In addition to maintaining the operation of 8 existing IPs with a total area of nearly 2,000 hectares, the province is speeding up the implementation of 2 newly established IPs including Hai Long and VSIP Thai Binh, with a total area of over 630 hectares and will plan to develop 13 new IPs with a total area of 3,574 hectares. In these 13 IPs, there will be a number of specialized IPs such as pharmaceutical - biological IP (Quynh Phu), Thai Thuong IP - port, service, tourism (Thai Thuy), Hung Ha IP - urban, logistics service.

Mr. Do Van Ve, Chairman of the Provincial Business Association, said: With a series of industrial parks established, Thai Binh is a gathering place for many leading domestic and foreign enterprises. The provincial business community will grow stronger and contribute more positively to socio-economic development.

In parallel with the development of industrial parks, in the next 6 years, the province will plan to develop 24 new industrial parks with a total area of 1,674 hectares, bringing the total number of industrial parks in the province to 67 with a total area of about 4,198 hectares. This is considered an auxiliary area for industrial parks, attracting small and medium enterprises to operate, creating an industrial network with complete chain linkages and high economic efficiency.

In order to implement the system of Economic Zones, Industrial Parks, and Industrial Clusters according to the orientation and planning, the province prepares all resources, especially investment capital, in which capital from non-state enterprises, FDI enterprises and residents plays a key role. The whole province will mobilize about 237 trillion VND in the period of 2021 - 2025 and about 577 trillion VND in the period of 2026 - 2030, mainly investing in large projects on technical infrastructure such as transportation, irrigation, power supply, Industrial Parks, Industrial Clusters... The province also promotes administrative procedure reform, improves the investment environment, enhances competitiveness, both creating a favorable investment and business environment for enterprises and attracting investors to Thai Binh to cooperate and develop together.