Industrial strength of Thanh Hoa province

Thanh Hoa is a province located in the North Central Coast region of Vietnam, approximately 150 km south of the capital city, Hanoi. It holds a strategically important position in terms of both socio-economic development and national defense and security. With various distinctive features not found in every region of Vietnam, Thanh Hoa can be likened to a “miniature Vietnam,” boasting diverse terrains, ecosystems, and cultural and historical values. These unique characteristics provide the province with advantages over other regions in terms of transportation, land resources, labor force, natural resources, culture, and history, facilitating cooperation, investment, and industrial development, as evidenced by seven specific points:

Firstly, Thanh Hoa enjoys a highly favorable position for trade and commerce, with economic and social infrastructure being reinforced through increased investment, particularly in transportation infrastructure. This includes a comprehensive network of roads (including National Highway 1A, National Highway 10, the North-South expressway, and the Ho Chi Minh road), the North-South railway, a system of waterways (including the deep-water Nghi Son port capable of accommodating vessels up to 100,000 tons), Tho Xuan Airport with a modern terminal capable of handling 1 million passengers per year, which is poised to become an international airport, having already welcomed numerous charter flights from Thailand, Singapore, Japan, and South Korea to Thanh Hoa and vice versa. Additionally, there is the Na Meo International Border Gate facilitating trade with the Lao People’s Democratic Republic and other countries within the ASEAN bloc.

Secondly, Thanh Hoa is home to the Nghi Son Economic Zone, spanning an area of 106,000 hectares, located in the southern part of Thanh Hoa province, along the North-South axis of the country. This zone is a multi-sector, comprehensive economic area selected by the Vietnamese government as one of the eight key coastal economic zones, offering the most attractive investment incentives nationwide. It is divided into 55 sub-zones, including 25 industrial sub-zones covering approximately 9,058 hectares. Additionally, Thanh Hoa province has been approved by the Prime Minister to develop 19 industrial zones outside the economic zone, covering a total area of approximately 6,810 hectares, and 115 industrial clusters, with a total area of 5,267 hectares.

Nghi Son Economic Zone

Thirdly, Thanh Hoa possesses diverse land potential, with a natural area of 1,111,471 hectares (ranking fifth nationwide), including 243,252 hectares for agricultural production and 102 kilometers of coastline, along with a sea area spanning over 17,000 square kilometers. These highly favorable conditions provide ample opportunities for comprehensive, large-scale agricultural production, incorporating advanced technologies.

Fourthly, with a population of 3.64 million people and an abundant labor force of over 2.6 million workers, Thanh Hoa boasts a relatively high level of education, with nearly 73% of the workforce having received training. Currently, the province is home to five universities, eleven vocational colleges, and eighty vocational education institutions. Annually, approximately 11,000 workers are trained in vocational schools. This advantage facilitates the development of labor-intensive industries such as textiles, leather, and high-tech industries.

Fifthly, Thanh Hoa is rich in mineral resources, with large reserves of various types including granite and marble, limestone for cement production, clay for cement, and chromium. Notably, it is home to the only chromite mine in Vietnam. Additionally, the province’s diverse land offers abundant forestry products, particularly bamboo, which is the largest reserve in the country. This presents opportunities for bilateral businesses to enhance trade exchanges and invest in processing industries.

Sixthly, with its rich natural conditions and longstanding cultural history, Thanh Hoa boasts over 1,535 historical and cultural relics of value, including many renowned scenic spots. Among them, Thanh Hoa’s Citadel of the Ho Dynasty is recognized as a UNESCO World Cultural Heritage Site, while the Lam Kinh historical site and the Ba Trieu historical site are designated as special national relics. Beautiful beaches such as Sam Son, Hai Tien, and Hai Hoa further enhance the province’s potential, providing advantages for Italian investors to experience high-quality tourism services. In 2023, Thanh Hoa province expects to welcome 12.3 million tourists, including approximately 616,000 international visitors.

Seventhly, the provincial planning for the period 2021-2030, with a vision to 2045, and the general urban planning for Thanh Hoa province until 2040, have been approved by the Prime Minister. The institutional system is increasingly perfected, enhancing effectiveness and efficiency. Particularly, on November 13, 2021, the National Assembly of Vietnam issued Resolution No. 37 on piloting certain special mechanisms and policies for the development of Thanh Hoa province, opening up outstanding and distinctive opportunities for Thanh Hoa to develop rapidly and sustainably in the future.

With the aforementioned characteristics, Thanh Hoa is considered a province with significant strengths in industrial development. Particularly, Thanh Hoa is home to numerous large industrial parks such as:

• Nghi Son Industrial Park
• Bim Son Industrial Park
• Northwest Industrial Park
• Industrial Park No. 3
• Le Mon Industrial Park
• Lam Son Industrial Park
• Thach Quang Industrial Park
• Bai Tranh Industrial Park
• West Thanh Hoa City Industrial-urban-service Zone
• Phu Quy Industrial-urban-service Zone

and many other industrial parks and clusters. With modern infrastructure and attractive investment support policies, Thanh Hoa provides favorable conditions for attracting both domestic and foreign businesses to invest and develop production. Thanh Hoa has, is, and will continue to attract considerable attention from investors both domestically and internationally.

Specifically, with 143 foreign direct investment (FDI) projects totaling over $14.6 billion, Thanh Hoa currently ranks first in the Central region and eighth nationwide in this field. Large-scale regional and national projects have established a strong position and investment attractiveness for Thanh Hoa in general, and the Nghi Son Economic Zone (NSEZ) in particular, in the journey of attracting new projects.

The province also organizes receptions, meetings, and field surveys for numerous organizations, corporations, and banks to explore and select investment opportunities in key areas. For example, in 2022, delegations from the Asian Development Bank (ADB), World Bank (WB), Japan International Cooperation Agency (JICA), Indian investor groups, WHA Corporation of Thailand, Ramky Group of India, Millennium Group (USA), Compal Corporation (Taiwan), JFE Engineering Vietnam Co., Ltd., and others were warmly welcomed, introduced to investment opportunities, and provided timely clarification and solutions to investment activities.

In the period 2022-2025, Thanh Hoa aims to attract a total of around $30 billion in FDI and domestic direct investment (DDI). Specifically, the goal is to approach and promote investment from 3-6 technology-leading companies, listed among the top 500 multinational companies globally, to invest in Thanh Hoa. Alongside prioritizing traditional partners such as Japan, South Korea, Singapore, Taiwan, Thanh Hoa will diversify and expand its potential by attracting new partners from Russia, the United States, European countries, and efficiently leveraging relationships with major corporations in developed countries such as the G7, G8, and OECD member states.

More industrial parks at: https://vki.vn/en/product/industrial-park-en

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