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| Thanks to promoting preferential policies and administrative reforms, Thai Nguyen has become a destination for many large investors. |
Creating an open investment environment
With the aspiration to turn Thai Nguyen into one of the modern industrial economic centers of the Northern Midlands and Mountains region and the Hanoi Capital region by 2030, the Provincial Party Committee, People's Council and People's Committee of Thai Nguyen province have developed specific and detailed programs and plans to create conditions for investors to research and explore investment opportunities in the province, especially large corporations and enterprises.
With the motto of “3 companionship, 5 support”, in recent times, the Provincial People’s Committee has directed departments, branches and localities to synchronously deploy many solutions to support enterprises in accessing mechanisms and policies, developing production and business, and improving competitiveness. Many cumbersome administrative procedures have been reviewed and proposed to be abolished.
Currently, the specialized agency has shortened the time to return business registration results from 3 to 2 days; investment policy approval results from 35 to 25 days; and procedures for granting investment registration certificates from 15 to 10 days. The appraisal of land needs (such as conditions for land allocation, land lease without auctioning land use rights...) has all been simplified.
Mr. Doan Nhu Hai, General Director of KD Heat Technology Thai Nguyen Co., Ltd. (Diem Thuy Industrial Park), commented: I highly appreciate the investment environment of Thai Nguyen province and KD Group (Japan), specializing in providing high-frequency heat treatment services, has chosen the province to build a factory. KD Heat Technology Thai Nguyen Co., Ltd. was established in 2013 along with the development of the automobile, motorbike, industrial machinery industry... in the country.
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| Manufactured at KD Heat Technology Thai Nguyen Co., Ltd., Diem Thuy Industrial Park. |
Along with promoting administrative reform and creating an open investment environment, Thai Nguyen has implemented many investment promotion programs, attracting large corporations and enterprises, creating growth momentum for the local economy.
Attracting many "big guys"
The provincial planning for the period 2021-2030, with a vision to 2050, identifies the goal that by 2025, Thai Nguyen province will be a modern and smart industrial economic center of the Northern midland and mountainous region and the Hanoi Capital Region; by 2030, it will become one of the centers for high-level electrical, electronic, and mechanical manufacturing production.
As a province with advantages in land fund, connecting traffic system, electricity and water infrastructure, input materials and abundant labor resources, Thai Nguyen has planned 12 industrial parks with a total area of 4,245 hectares, including 1 concentrated information technology park; 41 industrial clusters (ICs) with a total area of 2,067 hectares.
2025 is the year Thai Nguyen reaches the finish line with the determination to complete the socio-economic development goals of the entire 2020-2025 term. This is also the year the province sets a double-digit growth target to join the whole country in entering a new era - the era of rising up.
Since the first months of 2025, a series of large-scale projects and works have been launched, notably: Song Cong II Industrial Park - Phase 2; Yen Binh 3 Industrial Park; the first 6-star international resort in Vietnam, Flamingo Majestic Islands Resort; Quang Vinh 1 and Quang Vinh 2 bridges and the traffic system connecting Dong Bam and Quang Vinh wards with Cao Ngan commune, Thai Nguyen city. A series of key infrastructure projects have also been accelerated.
These are important premises for the province to upgrade infrastructure, attract high-tech investment projects and promote tourism potential and strengths with the goal of creating a foundation for a new growth period.
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| Thai Nguyen has the advantage of high quality human resources. |
With preferential policies, investment attraction has achieved many results, economic sectors have been promoted to develop. In the period of 2021-2025, Thai Nguyen attracted 161 domestic investment projects with a total capital of 67,357 billion VND (including 125 projects outside the industrial park with a capital of 64,320 billion VND and 36 projects in the industrial park with a capital of 3,037 billion VND).
Up to now, there have been 910 domestic projects (total registered capital of 1.01 quadrillion VND); newly granted and adjusted capital increase for 150 FDI projects with total capital of 2.73 billion USD; currently, there are 217 FDI projects with total capital of 10.819 billion USD.
Increase space and competitiveness
As mentioned above, the Thai Nguyen Provincial Planning after the merger opens up a new, larger, more integrated development space that is consistent with the overall planning orientation of the country, region, and locality, reshaping the entire socio-economic development structure, expanding new space to promote sustainable, harmonious growth with a long-term vision. The (new) Thai Nguyen Province will have a large space to attract investment, promoting faster and stronger growth.
Architect Tran Hai Hung: After the merger, Thai Nguyen will optimize its transport infrastructure, regional connectivity to promote trade connections; land use planning and new functional zoning need to be reasonable, harmonious, complementary and supportive, focusing resources, and promoting the strengths of each region. These are the outstanding advantages for Thai Nguyen to make a breakthrough in attracting investment.
The merger of Thai Nguyen and Bac Kan opens up a new development space, which is a strategic opportunity to create harmonious and sustainable development, increase competitiveness in attracting investment and developing in the future, which not every locality has. With its strategic location and natural, socio-economic and cultural and historical conditions, Thai Nguyen province has increasingly increased its position and assumed an important role for the region and the whole country.
Total social investment capital in the 2021-2025 period increased sharply: Thai Nguyen reached about 340 trillion VND (an increase of 34% compared to the previous period, an average of 68 trillion VND/year); Bac Kan reached over 34 trillion VND (1.5 times higher than the previous period, an average of 6.8 trillion VND/year). From 2021 to present, Thai Nguyen has newly established 3,862 enterprises (registered capital of 31,896 billion VND), bringing the total number of enterprises in the area to 10,980 (registered capital of 154,000 billion VND). Bac Kan has newly established 375 enterprises (registered capital of 4,890 billion VND); the total number of enterprises in the area is currently more than 1,100 enterprises (registered capital of 16,600 billion VND). |
Source: https://baothainguyen.vn/kinh-te/202507/thai-nguyen-hop-nhat-tang-du-dia-tang-suc-hut-421080c/
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