According to Nguyen Dinh Xung, Chairman of the provincial People’s Committee, Thanh Hoa has been implementing a number of measures to tap its potential and boost economic growth and competitiveness.
The locality is paying attention to equitising State-owned enterprises,
divesting from non-core businesses and fostering new-style agricultural
cooperative models to strengthen connections and form production value
chains.
Meanwhile, private and foreign businesses are receiving favourable conditions to develop their production and trade activities.
Thanh
Hoa is also paying heed to developing small- and medium-sized
enterprises, promoting the application of advanced science and
technologies in production and training human resources to serve the
locality’s industrialisation and modernisation goals.
It will
also strengthen state management of mineral and environmental protection
and streamline administrative procedures to make it easier for
investors to rapidly carry out projects and effectively operate in the
locality.
Covering over 11,000 square kilometres,
Thanh Hoa has advantages in transport, infrastructure facilities,
geographic position and natural resources.
It boasts
five industrial parks and the Nghi Son economic zone (EZ) – one of the
five key economic areas of the country which focuses on heavy industry,
basic industry and the Nghi Son seaport.
Spanning
18,000 hectares, Nghi Son EZ is now home to 134 projects, including 124
domestic projects. The majority of projects are operating effectively,
contributing to local economic development and creating jobs for
thousands of local residents.
The zone
also houses the Nghi Son Oil Refinery and Petrochemical Complex (NSRP),
the largest of its kind in Southeast Asia and the biggest foreign direct
investment (FDI) project in Vietnam with a capital investment of more
than 9 billion USD.
Thanh Hoa is concentrating on
building the Lam Son-Sao Vang Hi-tech Industrial Park with a total area
of 6,000 hectares, which is expected to become the province’s major
economic area in the future.
The locality has recently ranked
among the top ten in the provincial international economic integration
index, the provincial competitiveness index, and the Vietnam Provincial
Governance and Public Administration Performance Index, evidence of its
promising progress towards favourable investment conditions.
In 2014 alone, the province granted licences
for 152 new projects, including 10 FDI projects, with a combined
registered capital of 27 trillion VND (1.27 million USD), 2.5 times that
of the previous year. Seven FDI projects also increased their capital
by 107.6 million USD./.
