Business

Thai Binh enjoys another successful year in FDI attraction

Foreign direct investment (FDI) inflows in the northern province of Thai Binh have exceeded 1 billion USD for the second consecutive year in 2024, according to local authorities.

The first pharmaceutical–biological industrial park in Vietnam will be built in Thai Binh province, spanning ​​over 345 hectares. (Photo: baophapluat.vn
The first pharmaceutical–biological industrial park in Vietnam will be built in Thai Binh province, spanning ​​over 345 hectares. (Photo: baophapluat.vn

Thai Binh (VNA) – Foreign direct investment (FDI) inflows in the northern province of Thai Binh have exceeded 1 billion USD for the second consecutive year in 2024, according to local authorities.

Last year, the province attracted nearly 3 billion USD in FDI, with the LNG thermal power plant project making up a significant share of 1.99 billion USD. Located on the northeastern coast of Vietnam, Thai Binh is part of the Hanoi - Hai Phong - Quang Ninh strategic development triangle, and sits at the centre of the northern coastal economic zone, making it ideal for investment.

Along with organising various investment promotion activities abroad, the locality has hosted many domestic and international corporations exploring investment opportunities there.

The Thai Binh Economic Zone, spanning more than 30,580 hectares, and located near Cat Bi International Airport (35km away) and Lach Huyen International Port (50km) in Hai Phong city, has attracted numerous big investors. Since 2021, many new industrial zones have been established like Lien Ha Thai, Hai Long, and VSIP Thai Binh. Nguyen Quang Hung, Vice Chairman of the provincial People's Committee, said that the locality prioritises investors with strong capabilities, advanced technology, and high-value projects that would contribute significantly to its economic development.

The official said that Thai Binh plans to strengthen efforts to improve the business environment, address challenges that hinder investment, and promote production, while supporting investors and improving its infrastructure system.

Thai Binh aims to become a leading industrial centre in the Red River Delta by 2030, with a thriving economy and a sustainable environment by 2050./.

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