Thai Nguyen IZs: New Prospects for Investors

In 1999, the government decided to establish Song Cong I industrial zone to start the industry in Thai Nguyen province. So far, Song Cong I has attracted 38 investment projects with registered capital of nearly VND3,000 billion with 25 projects already under operation. In 2009, in furtherance of Decision 1107/QD-TTg of August, 2006, the Prime Minister decided to develop and expand industrial zones (IZs) in the province to 2015 and vision of 2020.

 

Currently, Thai Nguyen has six industrial zones approved by the Prime Minister such as Song Cong I (220 hectares), Song Cong II (250 hectares), Nam Pho Yen (200 hectares), Diem Thuy (350 hectares), Quyet Thang (200 hectares). The province is ready to welcome investors including those invest in infrastructure for industrial zones.

 

To prepare for the development of industrial zones, Thai Nguyen IZ Management Board has improved the development plan of IZs to 2015 and in vision of 2020. Due to promotion activities and cooperation of related central and local authorities, Thai Nguyen has recorded remarkable achievements. In 2007-2009, the province has approved and granted licenses to 336 investment projects with registered capital of over VND102,000 billion. In 2009 alone, 200 projects were registered with total investment capital of over VND33,000 billion focusing on such industries as automobile assembly, electronics, refrigeration, mechanics, mineral processing, forestry processing, tourism, service, infrastructure and urban areas.

 

With improvements in investment environment, preferential treatment and administrative reform, Thai Nguyen has become a reliable and attractive destination for investors. In particular, the province has comparative edge compared with other provinces. It is closed to Hanoi and Noi Bai international airport, not far from Haiphong seaport and next door to China. It has also favourable networks of roads, railways and rivers. Highways 3, 37 and 1A are main axis linking Thai Nguyen with Hanoi and other provinces. Highway 3 will soon be upgraded to international standard. Meanwhile the river network links Da Phuc river with Haiphong and Quang Ninh seaports. Thai Nguyen is third biggest centre of education of Vietnam with 6 universities, 17 colleges training each year 100,000 workers for the region and nationwide.

 

To develop further the advantages, Thai Nguyen will build industrial zones of high quality infrastructure in compliance with the plan of local socio-economic development. In 2009, the province has started the planning of the administrative centre of 1,500 hectares West of Thai Nguyen city and Yen Binh urban area of 8,000 hectares in Phu Binh and Pho Yen districts to make the province more attractive to investors.