In 2023, Thanh Hoa province issued new investment registration certificates for 19 projects with a total registered investment capital of $223.81 million, 2.1 times the number of projects and 2.86 times the investment capital compared to the same period in 2022. Thanh Hoa also adjusted the capital for 8 FDI projects with an additional capital of $63.64 million. In addition, foreign investors purchased shares and contributed capital worth $11.35 million, a 21-fold increase compared to the same period.
The total realized capital of FDI projects in the province in 2023 is estimated at $453.5 million, an increase of 0.8% compared to the same period.
By the end of 2023, there are 157 active FDI projects in the province, with a total registered investment capital of $14.616 billion, ranking 8th in the country. Among them, the majority come from some key projects that have been invested in for many years such as Nghi Son Cement with a capital of $650 million since 1997, Nghi Son Oil Refinery with over $9.3 billion since 2008, or more recently, Nghi Son Thermal Power Plant with a capital of $2.8 billion since before 2018.
FDI projects in the province have been implemented to ensure compliance with the investment registration certificates and commitments of investors. However, the production and business situation of some FDI enterprises in the textile, garment, and leather industries have been affected by the downturn in export markets worldwide. Compared to the same period in 2022, the value of exports of FDI enterprises in the area decreased by 2.85%, the import value decreased by 8.18%, and the tax revenue decreased by 11%.
Furthermore, due to changes in investment and production plans, 4 investors terminated their project activities with a total registered investment capital of $22.9 million.
In 2024, Thanh Hoa province expects to attract more than 20 new FDI projects with a registered investment capital of about $3.5 billion. Among them are some large-scale projects, such as the Nghi Son LNG Power Plant (with a registered investment capital of about $2.5 billion), the West Thanh Hoa Industrial Zone ($300 million); the disbursement value of FDI projects is expected to reach about $460 million.
Thanh Hoa will have more industrial zones
According to the Provincial Planning of Thanh Hoa for the period of 2021-2030 and the vision to 2045, in addition to the 8 industrial zones already included in the planning, Thanh Hoa province plans to add 9 new industrial zones (IZs) with a total area of over 2,280 hectares.
Specifically, by 2030, Thanh Hoa province will continue to implement the 8 IZs already included in the planning with a total area of 1,424 hectares, including Le Mon Industrial Zone (Thanh Hoa City, with an expected area by 2030 of over 76 hectares); Dinh Huong – Northwest Ga IZ (Thanh Hoa City, with an expected area by 2030 of nearly 165 hectares, and after 2030 of 180 hectares); Bim Son IZ (Bim Son Town, with an expected area by 2030 of over 412 hectares, and after 2030 of 525 hectares).
Hoang Long IZ – Urban Area (Thanh Hoa City, with an expected area by 2030 of 43 hectares); Lam Son – Sao Vang IZ (Trieu Son District, with an expected area by 2030 of 537 hectares, and after 2030 of over 654 hectares); Thach Quang IZ (Thach Thanh District, with an expected area by 2030 of 5.64 hectares, and after 2030 of 120 hectares); Ngoc Lac IZ (Ngoc Lac District, with an expected area by 2030 of 85 hectares, and after 2030 of 150 hectares); Bai Tranh IZ (Nhu Xuan District, with an expected area by 2030 of 100 hectares, and after 2030 of 146 hectares).
In addition to the 8 industrial zones already included in the planning, according to the planning, by 2030, other IZs located in Nghi Son Economic Zone have a total area of about 2,339 hectares.
9 new IZs will be added by 2030, with an area of about 2,281 hectares, including West Thanh Hoa IZ (with an expected area by 2030 of nearly 536 hectares, and after 2030 of 650 hectares); Phu Quy IZ (Hoang Hoa District, with an expected area by 2030 of 545 hectares, and after 2030 of 845 hectares); Bac Hoang Hoa IZ (Hoang Hoa District, with an expected area by 2030 of 157 hectares, and after 2030 of 274 hectares).
Ha Long IZ (Ha Trung District, with an expected area by 2030 of nearly 94 hectares, and after 2030 of 550 hectares); Luu Binh IZ (Quang Xuong District, with an expected area by 2030 of 200 hectares, and after 2030 of 470 hectares); Tuong Linh IZ (Nong Cong District, with an expected area by 2030 of 200 hectares, and after 2030 of 350 hectares).
Giang Quang Thinh IZ (Thieu Hoa District, with an expected area by 2030 of 300 hectares); Nga Tan IZ (Nga Tan District, with an expected area by 2030 of 150 hectares, and after 2030 of 430 hectares); Da Loc IZ (Hau Loc District, with an expected area by 2030 of 100 hectares, and after 2030 of 250 hectares).
In addition, after 2030, the province will add two new industrial clusters with an area of 872 hectares, including Phong Ninh IZ (Yen Dinh District, 450 hectares) and Ha Linh IZ (Ha Trung District, 422 hectares).
Regarding industrial clusters, by 2030, the province has 115 industrial clusters with a total area of 5,267 hectares. In the period after 2030, an additional 11 ICs will be added, bringing the total number of ICs in the province to 126 ICs with a total area of 5,893.6 hectares.
These 11 newly established ICs include Quang Van IC (Quang Xuong District, 60 hectares); Thanh Minh IC (Thach Thanh District, 70 hectares); Thanh Tan IC (Thach Thanh District, 50 hectares); Thach Son IC (Thach Thanh District, 50 hectares); Ngoc Trao IC (Thach Thanh District, 50 hectares); Thach Quang IC (Thach Thanh District, 70 hectares).
Xuan Cao I IC (Thuong Xuan District, 41.4 hectares); Hop Thang II IC (Trieu Son District, 70 hectares); Hop Thang III IC (Trieu Son District, 70 hectares); Hop Ly IC (Trieu Son District, 25 hectares); Tho Ngoc II IC (Trieu Son District, 70 hectares).
