Thanh Hoa receives Indian investment in ‘Pharmaceutical Park’

After completing surveys, Indian investors have selected northern Thanh Hoa province as one of two localities to invest in a pharmaceutical industrial park project called “Pharmaceutical Park”.

It will be a specialized industrial park in the pharmaceutical field, attracting global pharmaceutical companies to set up production bases and improve autonomy.

The project is estimated to have initial investment of about $500 million, with export revenue expected to reach some $3 billion per year. It will create 50,000 direct jobs and 200,000 indirect jobs.

When welcoming an Indian business delegation, Mr. Do Minh Tuan, Chairman of the Thanh Hoa Provincial People’s Committee, introduced in detail the advantages the locality possesses. It boasts convenient traffic infrastructure, he explained, such as Nghi Son International Port, Tho Xuan International Airport, inter-provincial roads running from north to south, and the North-South Expressway.

Thanh Hoa is also now able to provide abundant, high-quality human resources in medicine and pharmaceuticals. The Hanoi Medical University, Thanh Hoa campus, is training high-quality students who can meet the recruitment needs of pharmaceutical enterprises once the Pharmaceutical Park is opened.

Despite Covid-19 having a widespread impact on production and business, investment attraction in Thanh Hoa province still posted remarkable results.

The province will continue to make every effort to attract new investment, helping it become a pillar in the development quadrangle of Vietnam’s northern region.