Thanh Hoa attracts 54 investment projects in 10 months

The north–central province of Thanh Hoa attracted 54 projects, including five foreign direct investment (FDI) ones with a total registered capital of over 228 million USD in the first 10 months of 2022.
Thanh Hoa lures 54 investment projects in 10 months
Thanh Hoa attracts 54 investment projects in the first 10 months of 2022. (Photo: VNA)

According to the provincial Department of Planning and Investment, new investment projects have focused mainly on industry, culture and tourism.

In October alone, local authorities gave in-principle approval to one domestic investment project with total registered capital of 80 billion VND.

Since the beginning of the year, local authorities have strengthened investment promotion, providing information related to planning, investment attraction fields, and mechanisms and policies to organisations, business delegations, and domestic and foreign banks.

Attention has been also paid to improving the investment and business environment, simplifying administrative procedures to create favourable conditions for businesses to access equal and transparent business opportunities.

In October, local officials worked with representatives from Sumitomo Corporation of Japan on developing an industrial park in Thanh Hoa, a business delegation of Taiwan (China) and SunGroup, the Department said.

To promptly remove difficulties and obstacles facing businesses operating in the locality, and lure more investment capital, conferences have been held to improve the efficiency of investment promotion, strengthen leadership and direction in land clearance, and address planning problems in industrial clusters.

Local officials have held working sessions with representatives of businesses and investors on measures to remove difficulties in projects in the Nghi Son Economic Zone and a number of key projects.

Local authorities have instructed the Investment, Trade and Tourism Promotion Centre, in collaboration with departments and agencies, to provide advice for the provincial People’s Committee and Special Investment Promotion Committee regarding feasible projects that match local planning and socio-economic development conditions.

Plans to meet and introduce projects to major European firms, especially those interested in expanding their operations in Vietnam, are also scheduled.

Authorities of districts, towns and Thanh Hoa city will review the planning on the use of land and construction to prevent overlapping, thus creating the best conditions to attract investment.

They are also to prepare conditions in terms of land, infrastructure, labour and energy to meet demand of foreign investors who look to shift to new business locations.

About ongoing FDI projects, agencies concerned are hastening procedures related to investment, planning, construction, land, environment and electronic public administrative services.

So far, the province has lured five FDI projects worth nearly 45 million USD.

Thanh Hoa is also seen as a hidden gem in Vietnam, with huge potential for developing tourism on the back of its diverse and rich tourism resources.

Known as a "miniature Vietnam", Thanh Hoa is host to all of the country’s terrains, from mountains, midland, to plains and coasts, with many beautiful landscapes and valuable historical vestiges. The province also has a system of infrastructure and technical facilities for tourism that is constantly expanding, and gradually improving.

Thanh Hoa is home to a variety of beautiful beaches, namely the popular Sam Son brown sand beach in the city of the same name. There is also Hai Tien beach in Hoang Hoa district, Tien Trang beach in Quang Xuong district, and Hai Hoa, Hai Thanh, and Bai Dong beaches in Tinh Gia district.

In recent years, the province has become one of the top cities and provinces in terms of tourism growth nationwide. During the 2016-2019 period, the number of tourist arrivals in the province grew by 15.2% annually. Tourism revenue rose by 31.7% year on year, contributing greatly to local socio-economic development.

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(Source: VNA)