Business

Thai Nguyen emerges as ideal destination for foreign investors

With 131 operating foreign direct investment (FDI) projects valued at 7.29 billion USD, Thai Nguyen province has become one of the leading destinations for foreign investors in the northern mountainous region.
Thai Nguyen emerges as ideal destination for foreign investors ảnh 1Samsung Group started its project in high-tech complex in the Yen Binh industrial zone in 2013. (Photo: VNA)

Thai Nguyen (VNA) – With 131 operating foreign direct investment(FDI) projects valued at 7.29 billion USD, Thai Nguyen province has become oneof the leading destinations for foreign investors in the northern mountainous region.

According to statistics from the provincial Department of Planning andInvestment, the flow of FDI into Thai Nguyen began to accelerate in 2012. In particular,when Samsung Group from the Republic of Korea started its project in thehigh-tech complex in the Yen Binh industrial zone in Pho Yen town in 2013, ThaiNguyen jumped to the first place among 63 cities and provinces nationwide inFDI attraction. In that year, the province absorbed more than 3.4 billion USD in22 newly-licensed projects.

Thanks to the spillover effect of theSamsung project, total FDI in Thai Nguyen during 2012-2017 rose 70 timescompared to the 1993-2012 period.

General Director of Samsung Electronics Vietnam Shin Won-Hwan said at a recentinvestment promotion conference that strong support from the VietnameseGovernment and abundant supply of labourers coupled with the good will of theprovince’s administration were the reasons why the group chose Thai Nguyen for itscomplex.

The foreign-invested sector has contributed to Thai Nguyen province’s economic developmentin the past years, with the gross regional domestic product (GRDP) expanding byan annual rate of over 12 percent, higher than the national average. In onlythree years, from 2015-2017, FDI firms contributed more than 5.3 trillion VNDto the province’s budget.

In addition, Thai Nguyen is among the few northern mountainous localitieshaving export revenue reaching billions of USD. In 2017 alone, the provinceraked in 25 billion USD from exports, a year-on-year increase of 30 percent.

Also, the FDI projects have created stable jobs for local workers and those inneighbouring provinces. Currently, more than 112,000 people working at FDIfirms as compared to 10,200 in 2013.

Moreover, FDI projects have helped the province shift its industrial structurefrom metallurgy and mining to high-tech and support industries. In the recentfive years, local industrial production grew at over 80 percent per year.

Director of the provincial Department of Planning and Investment Hoang ThaiCuong said that Thai Nguyen has been praised for its effective strategy to lureFDI from the RoK and some other foreign countries and territories like Japan, Singapore, andTaiwan (China).

However, the province is advised to work toattract more investments from European and American countries.-VNA
VNA
#Thai Nguyen province #FDI projects #Samsung Group #high-tech complex #strong support #abundant supply of labourers #foreign-invested sector #Vietnam News Agency #Vietnamplus Thai Nguyen
Follow VietnamPlus

Related News

FDI disbursement up 9.2 percent in eight months

FDI disbursement up 9.2 percent in eight months

The disbursement of foreign direct investment (FDI) projects was estimated at 11.25 billion USD as of August 20, a year-on-year rise of 9.2 percent, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

See more

A road in Ho Chi Minh City. (Photo: VNA)

Ho Chi Minh City to integrate IoT into smart transport infrastructure

To promote IoT application in smart transport, the Ho Chi Minh City People's Committee Chairman has assigned the Department of Construction to lead the deployment of IoT in the construction, management, operation and maintenance of transport infrastructure. The department will also review and propose integrating IoT sensors and smart monitoring devices into transport construction, renovation and upgrading projects across the city.

Online promotion of lychee and other key agricultural and OCOP products from Bac Ninh province. (Photo: VNA)

Vietnam tightening e-commerce management

Amid the rapid expansion of online commerce, closely linked to consumption, exports, logistics, electronic payments and the digital economy, the legislation is expected to shape the sector’s sustainable future while ensuring a balance between State management, consumer rights and business interests.

At the 19th Ho Chi Minh City International Travel Expo (ITE HCMC 2025) (Photo: VNA)

ITE HCMC 2026 to connect Vietnam's tourism with the world

From its early editions in 2005-2010, which attracted around 210 exhibitors and 120 international buyers from 18 countries, ITE HCMC has grown significantly. This year's event is expected to feature more than 520 exhibitors and brands, 260 international buyers from over 40 countries and territories, and more than 21,000 pre-arranged B2B appointments.

Checking tickets before passengers board the train at Hai Phong Station. (Photo: VNA)

Vietnam-China rail link prioritised to boost trade

The Ministry of Construction said it has tasked the Vietnam Railway Authority with working alongside relevant Chinese agencies to develop detailed plans for the Hai Phong–Ha Long–Mong Cai railway, which is slated for completion in 2026.

Australian Treasurer Jim Chalmers (right) and Vietnamese Minister of Finance Ngo Van Tuan at their meeting in Sydney on August 11 (Photo: Ministry of Finance)

Vietnam, Australia strengthen all-round financial cooperation

Minister of Finance Ngo Van Tuan called on the Australian Government to continue providing official development assistance (ODA), particularly for climate-resilient infrastructure projects, share experience, and provide technical assistance in public financial management reforms.

Delegates press the button to launch the project. (Photo: VNA)

Ca Mau launches 96 million USD wind power project

The project which has a designed capacity of 50MW, will cover around 600ha of sea and land areas, with total investment estimated at 2.5 trillion VND (96 million USD). It comprises a 13km 110kV transmission line, a 63MVA step-up substation, medium-voltage underground cable systems, and wind turbines and their foundations.

A Vietnam Airlines aircraft. (Photo: VNA)

Vietnam Airlines marks 35,000th flight to Australia

Over 35 years of operations, Vietnam Airlines has operated 35,000 flights and carried 7.5 million passengers between Vietnam and Australia, reflecting steady market growth and rising demand for connectivity between the two countries.

A view of the press conference. (Photo: VNA)

2026 Banking Sector Digital Transformation to open in Hanoi

The annual event, which will be held on August 18-19, 2026, at the ICE International Exhibition Centre, 91 Tran Hung Dao Street, Hanoi, is expected to attract around 324 delegates and feature 21 booths representing credit institutions, payment intermediary service providers, and technology companies.

SME products livestreamed on the digital platform of Ca Mau Radio and Television Station.( Photo: VNA)

Digital transformation key to unlocking SME growth in Vietnam

Science, technology, innovation and digital transformation have become strategic imperatives directly linked to labour productivity, competitiveness, growth quality and the economy's self-reliance, with sci-tech application and innovation by small and medium-sized enterprises (SMEs) playing an important role.

New Zealand apples on sale at a supermarket in Vietnam (Photo: VNA)

Vietnamese consumers develop taste for Australian, New Zealand fruit

According to statistics from the Department of Customs, in the first six months of 2026, Vietnam imported 102.8 million USD worth of fruit, vegetables and flowers from Australia, up 55.7% from the same period last year. Australia's share of total imports rose from 5.5% to 6.51%, highlighting the growing position of the market as a supplier. Imports from New Zealand reached 78.04 million USD, up 20.4% year-on-year.

Semiconductor products, chips and components displayed at a ceremony to launch a national centre for semiconductor chip pilot production support in Hanoi on June 26. (Photo: VNA)

US semiconductor push offers Vietnam opportunities, policy challenges

The Vietnam-US semiconductor partnership is therefore not simply a “golden opportunity” arising from geopolitical shifts, but also a long-term test of Vietnam’s institutional reform and implementation capacity. If domestic capacity cannot keep pace, adjusting targets toward quality and execution, rather than simply expanding the number of projects, will be essential.