Aerial view of VSIP Thai Binh Industrial Park.
Thai Thuy district, Thai Binh province, has been expediting compensation, clearance, and land retrieval processes for the first phase of the VSIP Thai Binh Industrial Park infrastructure development and business investment project.
The project is expected to break ground by the end of March this year.
VSIP Thai Binh Industrial Park is located in An Tan and Thuy Truong communes, Thai Thuy district.
Spanning an area of 3.44 km2 (larger than half of Hoan Kiem district in Hanoi, at 5.29 km2), the industrial park is part of the Tan Truong industrial-urban-service complex (covering 4.34 km2).
With a total investment of VND 4,932 billion (approximately USD 212 million), the project is developed by Vietnam-Singapore Industrial Park Joint Stock Company (VSIP).
As one of the largest industrial parks in the area, VSIP Thai Binh is the second-largest project in terms of land clearance in Thai Thuy district, following the nearly 6 km2 Lien Ha Thai Industrial Park, for which land clearance has been substantially completed.
Land use statistics (source: report)
The land for the VSIP Thai Binh development is predominantly agricultural, with additional land allocated for vegetation, rivers, and canals.
According to the environmental impact assessment report, the industrial park will focus on high-tech industries and projects that utilize energy-efficient and clean technologies.
A bird’s-eye view of the land designated for the VSIP Thai Binh Industrial Park (photo: Ngoc Dep)
Upon completion, the VSIP Thai Binh Industrial Park will play a significant role in attracting investment, transforming the local economic structure, and increasing provincial budget revenues.
Since 1996, 18 VSIP industrial parks have been established across 13 provinces and cities, providing employment for over 300,000 workers. Notable examples include VSIP Binh Duong II (20 km2), VSIP Hai Phong (16 km2), and VSIP Bac Ninh (7 km2).
In Thai Binh province, 11 industrial parks spanning approximately 27 km2 have been established. In 2024, the industry and construction sectors accounted for 44.3% of the provincial economy. During the same year, 1,172 new enterprises were registered in the province, with total investment exceeding VND 12,600 billion.
As per the approved master plan for Thai Binh province for the 2021-2030 period, with a vision towards 2050: Thai Binh is envisioned to become one of the leading industrial development centers in the Red River Delta region, featuring a modern economic structure driven by industrial growth.
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