IPs opening or expanding in north-central region to welcome investment

Adjustments to planning and the expansion of investment at a number of industrial parks in the north-central provinces of Thanh Hoa, Nghe An, Ha Tinh and Quang Binh reveal positive signs for FDI inflows now and in the future.

The Thanh Hoa Provincial People’s Committee, meanwhile, has issued decisions approving planning and adjusted planning for Industrial Parks No. 17, 11, and 5 at the Nghi Son Economic Zone. The province has added an additional 2,000 ha of industrial land to Nghi Son to serve the goal of promoting key industries in the future. The three are all multi-sector IPs.

In Nghe An, the Provincial People’s Committee has issued Plan No. 812 to implement the “Project to develop the Southeast Economic Zone into a driving force for economic growth in Nghe An province in the 2021-2025 period, with orientations to 2030”. The area containing the Southeast Economic Zone will be adjusted to 80,000 ha in the 2021-2025 period.

In Ha Tinh, provincial leaders have issued Decision No. 390/QD-UBND approving a planning project for the construction of a 1,236-ha central industrial park (IP) at the Vung Ang Economic Zone. Once completed, it will be a concentrated large-scale IP attracting modern and high-tech industries such as automobile manufacturing and assembly and high-tech automotive equipment and component manufacturing.

Earlier, at the beginning of March, the Capella Quang Binh Investment Company Limited, a member of the Capella Real Estate Joint Stock Company, sought approval from the Quang Binh Provincial People’s Committee to implement a project building the Cam Lien Industrial Park and associated infrastructure in Le Thuy district, Quang Binh province, on the border of the north-central region. The project has total investment of VND1.84 trillion ($80.74 million), of which the investor contributed VND300 billion ($13.16 million), with project implementation from 2021 to 2028.

The provinces are all expanding their IPs to cater to increasing inflows of FDI capital.

“Modern IPs will be a connection point and welcome the wave of investment shifting into Vietnam in general and Nghe An in particular,” said Mr. Nguyen Duc Trung, Chairman of the Nghe An Provincial People’s Committee.