Thanh Hoa province will grant investment licenses and sign contracts totaling US$4 billion when it holds its Nghi Son Economic Zone (EZ) investment promotion forum on October 23–24.
At press briefing in Hanoi on October 8, Thanh Hoa Provincial People’s Committee Vice Chairman Nguyen Dinh Xung said the forum, the first of its kind in the province, will see the participation of large numbers of foreign businesses seeking investment opportunities in the locality.
Xung stressed the importance of the US$9 million Nghi Son EZ project to the province’s socio-economic development.
Thanh Hoa will present its 2020 socio-economic development strategy, incorporating a vision extending to 2030 and including a construction plan, a land use plan, a human resources development plan, investment policy, promotional materials, and calls for investment.
The forum gives investors the chance to meet with potential partners explore the business opportunities in Nghi Son EZ and adjacent areas, Xung said.
He reiterated Thanh Hoa’s six commitments to investors: the best incentives, best support services, most accessible administration, most stable, most harmonious digital environment, and the most development potential.
Thanh Hoa’s US$15 billion worth of FDI capital ranks it 6th in Vietnam. The investment is distributed in key projects such as the Nghi Son oil refinery, thermoelectric power plants, and seaports.
The province abounds with modern transport infrastructure and convenient connections to international markets, ranging from its Nghi Son deepwater port and Tho Xuan airport to its developed highways and trans-Asian road links to Laos and Thailand.
Around 60 foreign investment businesses are currently based there, fuelling an average annual GDP growth rate as high as 10%.