The front gate of Cong Thanh Group's cement factory in Thanh Hoa Province. — Photo courtesy of the company

The north central province of Thanh Hoa signed memoranda of understanding on 15 projects worth US$12.5 billion during an investment promotion conference last week.

Speaking at the event, Deputy Prime Minister Truong Hoa Binh said it is the first locality nationwide to hold such an event since Viet Nam has began to bring the COVID-19 pandemic under control.

He expressed his hopes that Thanh Hoa will capitalise on its advantages to gain prominent socio-economic achievements in the future and stay among the country’s leading localities by 2025.

To realise the target, the province needs to complete its planning for the next ten years, he noted, urging local authorities to create optimal conditions for businesses.

At the event, as many as 34 projects with a combined investment of nearly $15 billion were granted permission. They were in processing and manufacturing industry, urban development, tourism and health care, among others.

At a similar event held in 2017, some 31 projects of a total $6.3 billion were approved and six of them so far have been completed. — VNS