The Nghi Sơn Refinery in Nghi Sơn Economic Zone. — VNA/VNS Photo
The central province of Thanh Hoá has been making efforts to attract investment capital into Nghi Sơn Economic Zone (EZ) and industrial parks (IPs) as investment activities face many difficulties due to the economic recession, according to the management board of Nghi Sơn EZ and IPs.
Top priority has been given to fostering investment promotion activities and facilitating the implementation of existing projects, creating motivation to lure investment in the future, the board said.
The board said it has thus far this year received 27 delegations of foreign and domestic businesses coming to the province to seek investment opportunities. During their trips, these investors have been provided with updated information about planning, investment attraction fields, and mechanisms and policies.
At the same time, the board has also supported investors in completing necessary legal procedures and speeding up site clearance compensation to soon implement their projects such as VAS Steel Factory No 2; Đại Dương reinforced concrete structure manufacturing factory; Long Sơn container port and Billion Rise textile and dyeing plant.
Attention has also been paid to improving the investment and business environment, simplifying administrative procedures to create favourable conditions for businesses to access equal and transparent opportunities, according to the board.
Thanks to those efforts, Nghi Sơn EZ and IPs have lured 21 investment projects this year. Of the total, 15 are domestically-financed projects valued at over VNĐ10.8 trillion (US$450 million), and six are foreign-invested projects capitalised at $49 million.
Projects include the Nghi Sơn GLOBAL factory worth VNĐ860 billion and Nghi Sơn high-tech mechanical factory valued at VNĐ502 billion. The investors have been fulfilling legal procedures to start their projects.
Earlier in June, the provincial People's Commitee and Sumitomo Corporation signed a memorandum of understanding (MOU) to explore investment opportunities in constructing industrial zones in the west of Thanh Hóa city, along with the establishment of logistics and urban centres.
The key investment project aims to create a top-notch industrial park that will attract investors with modern technology while creating numerous job opportunities and contributing to the province’s socio-economic development.
The project is scheduled to be implemented in the 2024-25 period, with a total capital outlay of approximately $300-400 million. The industrial park project will cover an estimated area of 650ha, while the logistics and urban centre surrounding it will occupy approximately 168.5ha. — VNS