Goods are unloaded from a ship at Nghi Son Sea Port in the central province of Thanh Hoa. — VNA/VNS Photo Mai Huong

HA NOI (Biz Hub)—As many as 800 local and international delegates are expected to gather at a forum on "Investment Promotion in Nghi Son Economic Zone and Neighbouring Areas" set to kick off in central Thanh Hoa Province on October 23.

"The two-day event aimed to introduce the province's socio-economic development plan by 2020 with a vision to 2030 and plan for subsequent financing of construction, land buying and human resources," said an official from the province.

Speaking at a press conference held in Ha Noi yesterday, Nguyen Dinh Xung, the provincial People Committee's vice chairman, said:

"We will organise a signing ceremony for several investment co-operation agreements and grant business licences to investors at the forum. It is expected that the total registered capital to be won at the event will be around US$4 billion," Xung said.

He claimed that the province has offered investors with the best access, best incentives, best start-up services, best development potential, best harmonious living environment and best social security of anywhere in the country.

Tran Hoa, head of the Nghi Son Economic Zone, said that the industrial region covers an area of more than 18,600ha, with most factories and plants within focusing on heavy industry, basic industry and exploiting Nghi Son seaport.

Investors in the zone have enjoyed special incentives such as land and water use tax exemption for 11 - 15 years after starting their operation, corporate tax exemption for four years and a reducing of half the tax in the next nine years.

"We provide all necessary administrative procedures at the zone to help investors succeed," Hoa said.

The province has the advantage of linking regions, with particular access to the North Central region.

Together with Nghi Son deep-water seaport and Tho Xuan airport acting as international gateways, the systems of arterial highways and trans-Asian roads have created a traffic and distribution network covering all regions and connecting with the markets of Laos and Thailand.

The province last year posted GDP growth rate of more than 10 per cent.

It ranked the sixth place in terms of FDI attraction with a total of $15 billion. It is the home of key national projects including Nghi Son Thermal Power Plant and the Nghi Son Refinery and Petrochemical Complex.

The latter is country's largest ever project of its kind with total investment of $9 billion.

The project's general director said the project would promote FDI attraction in Viet Nam, especially from Japan and Kuwait.

It is expected to supply 200,000 barrels a day, equivalent to 10 million a year. Its ground breaking ceremony will be organized on the same day as the forum. It is expected to become operational in mid 2017. — VNS