Thai Binh Province Tapping Economic Advantages

Thai Binh is a flatland province in the southern part of the Red River Delta and is inside the Hanoi-Haiphong-Ha Long Economic Development Triangle as well as Kunming-Lao Cai-Hanoi-Haiphong Economic Corridor. The province is 110 km away the capital of Hanoi, 70 km away Haiphong City and 14 km away Nam Dinh City. The transport system is widened and upgraded, especially the completed National Road 10 and Tan De Bridge, to facilitate economic exchange, specially the investment attraction. Besides, Thai Binh also has national Diem Dien Seaport linking to Haiphong City, southern provinces, China and ASEAN countries.

 

Thai Binh's soil is enriched by alluvium of the Red and Thai Binh rivers, which is ideal for the cultivation and husbandry - a material source for farm produce processing industry. On the other hand, with an over 52-km coastline and five big estuaries, Thai Binh have wide fisheries for rearing and catching various kinds of seafood. The locality also has Dong Chau Resort, coastal sea dunes (Con Vanh, Con Thu, Con Den) and salt marshes for the tourism development.

 

The agriculture industry has comprehensively developed and stabilised. The annual food output exceeds one million tonnes. Key exports like pork have fast growth. In 2005, the pork output was estimated to reach 2,800 tonnes. The area for the cultivation of vegetables like cucumber has been expanded. Aquaculture and sea fisheries have significantly developed. More offshore fishing boats have been built to serve the industry. In 2005, the fishery area was 11,493 ha, which raised 59,000 tonnes of fish.

 

Thai Binh's industry mainly focuses on farm produce processing, garment, textile, pottery, construction material and mechanics for agricultural purposes or for several large modern projects like Granite brick production, tile production, Vietnam-Czech glassware production, rice processing, corrugated iron factory, animal feed processing factory and high quality fibre factory. Annually, Thai Binh earns some US$68 million from garments and textiles and US$2.5 million from handicraft products. Ceramic bricks are mainly exported to Iraq and Saudi Arabia. Thai Binh also has gas reserves tapped since 1986 to fuel terracotta, porcelain, glassware, brick, tile and white cement factories. An addition, Tien Hai has a natural mineral water source with a reserve of 12 million cubic metres at a depth of 450 metres, which has been exploited since 1992 with an yearly output of 10 million cubic litres for both domestic and export market. In 2005, the industrial production output reached VND3,317 billion (US$207.3 million), an increase of 20.8 per cent compared with that in 2004.

 

At present, the province is outlining five centralised industrial zones on 680 ha, including 300-ha Phuc Khanh, 70-ha Nguyen Duc Canh, 105.5-ha Tien Hai, 50-ha Diem Dien and 100-ha Cau Nghin. Existing industrial zones have become places of interest for local and foreign investors. As of late 2005, Thai Binh had 193 projects with a total investment capital of VND4,189 billion, including 85 operational ones, which are employing 55,000 workers. Besides, Thai Binh has set up 16 industrial complexes covering 449 ha throughout the province.