Exploiting the potential and advantages of Thai Binh Economic Zone

Thai Binh Economic Zone is planned to become a multi-sector economic area facing the sea with an ecosystem of industry, urban, services, energy, ports, and logistics. With synchronous infrastructure investment and many strategic projects, Thai Binh Economic Zone is the driving force for the province's economic development.

Thermal power plant projects at the Power Center.

One of the important milestones showing the strong development of Thai Binh Economic Zone is the formation and development of industrial parks (IPs) with modern infrastructure. Up to now, in the Economic Zone, there are 5 IPs being invested in, including Lien Ha Thai, Hai Long, Hung Phu, Tien Hai, VSIP Thai Binh. The investors in construction and infrastructure business of these IPs are all large, reputable investors in management, investment and attracting secondary projects to invest. Notably, Lien Ha Thai IP is a typical example of the whole country in terms of fast, synchronous and modern investment development.

Mr. Nguyen Tran Phong, Deputy General Director of Green i-Park Joint Stock Company said: After nearly 4 years, we have basically completed the entire infrastructure of the industrial park and attracted 30 secondary projects with a total investment capital of more than 1.6 billion USD into operation. The projects not only have high investment rates but also use advanced, environmentally friendly production technology and create high added value, contributing positively to local economic development.

According to the leaders of the Provincial Economic Zone Management Board, up to now, the industrial parks in the economic zone have attracted 129 projects with a total registered investment capital of about 66,704 billion VND, the implemented investment capital is about 35,384 billion VND, accounting for 53% of the registered investment capital. Notably, there are 66 foreign investment projects in the industrial parks with a total capital of about 2.3 billion USD.

Thai Binh Economic Zone has potential and is planned as an electricity center. The center currently has two coal-fired thermal power plants with a total capacity of 1,800 MW already in operation. The Thai Binh LNG Power Plant project has a capacity of 1,500 MW, a total investment of more than 47,000 billion VND, a consortium of investors including Tokyo Gas Co., Ltd., Kyuden International Group, and Truong Thanh Vietnam Industrial Joint Stock Company, and is preparing to start construction in 2025.

In addition, Thai Binh Economic Zone has advantages in wind potential and a large offshore sea area of about ^3,160km2 , allowing the development of wind power projects with a capacity of up to 10,000MW; currently, many large domestic and foreign investors are researching and proposing investment projects. Mr. Tran Ngoc Giang, Head of Electricity Management Department, Department of Industry and Trade, said: The power center in the Economic Zone with large energy projects will meet the increasing energy demand when Hung Yen accelerates industrial development and especially creates attraction for large investors in the world to invest in Thai Binh Economic Zone.

As a multi-sector, sea-oriented economic zone, Thai Binh Economic Zone also has other functional areas such as industrial clusters, ports and port services, tourist - resort areas, coastal aquaculture areas and protective forests; residential, urban, service and administrative areas. Some large projects have been invested in construction such as the Con Vanh golf course project with a scale of nearly 110 hectares, including main items: 27-hole international standard golf course, two golf courses, a 4-star resort hotel and 150 low-rise resort houses, with a total investment of about 2,150 billion VND; Ba Lat liquid cargo port project with an area of over ^68,500m2 , capable of receiving ships up to 3,000 tons, with a clearance capacity of about 150,000 tons of goods/year. These are considered two projects that will open up the development of tourism, high-quality services, seaports, and logistics services, while increasing investment attraction in the Economic Zone, properly implementing the province's marine economic development strategy.

Workers of Greenworks Vietnam Co., Ltd. at Lien Ha Thai Industrial Park assemble gardening machines for export.

With its industrial ecosystem, high-tech agriculture, urban areas, and high-end services, Thai Binh Economic Zone is truly an attractive investment destination for large domestic and foreign investors. Comrade Vu Kim Cu, Member of the Provincial Party Standing Committee, Head of the Provincial Economic Zone Management Board, said: Up to now, there are nearly 250 projects in the Economic Zone, with a total registered investment capital of about 200,000 billion VND, creating jobs for nearly 31,000 workers, including 69 FDI projects with a total investment capital of about 4.5 billion USD. Names such as Green i-Park, Geleximco, Bao Minh, VSIP, Compal, Greenworks, Kyuden, Hitejinro... are all leading domestic and international economic groups that have gathered in Thai Binh Economic Zone. That is proof of the investment attraction of the Marine Economic Zone and inspires large investors around the world to seek cooperation and development in the coming time.

Workers of Keystone Electrical Vietnam Co., Ltd. at Lien Ha Thai Industrial Park assemble portable electrical equipment for export.

Currently, the province is focusing on researching, adjusting planning, building more open and attractive mechanisms and policies to build Thai Binh Economic Zone into a leading free economic zone in Southeast Asia. With the development direction following a multi-sector and multi-sector integrated model, focusing on industries, high technology, digital and high-quality services, forming a dynamic living ecosystem, we can completely trust that this strategic area will become a driving force for socio-economic development not only of the province but also of the Red River Delta.