A section of an industrial park in Hoằng Hóa District. — Photo vietnamnet.vn

Deputy Prime Minister Bùi Thanh Sơn has signed a decision granting investment approval for the WHA Smart Technology Industrial Park infrastructure project.

The decision specifies that three investors will execute the project: WHA Industrial Development 2 (SG) Pte. Ltd., WHA Industrial Management Services Việt Nam Co., Ltd. and WHAUP Nghệ An Joint Stock Company.

These investors are required to establish a legal economic entity and secure sufficient capital to implement the project.

The project’s total investment capital amounts to VNĐ1.32 trillion (about US$55 million), with the investors contributing VNĐ216 billion (about $9 million).

With a goal of developing and operating industrial park infrastructure, the project will span 178.51 hectares located in four communes in Hoằng Hóa District, Thanh Hóa Province: Hoằng Quỳ, Hoằng Quý, Hoằng Xuyên and Hoằng Cát.

It will operate for 50 years, starting from the date of investment policy and investor approval. Construction is required to be completed within 36 months from the date the investors' established entity receives the land from the Government.

Thanh Hóa currently leads the central region in attracting foreign direct investment (FDI). Currently, the province has 161 active FDI projects with a total registered capital of nearly $15 billion.

By the end of 2023, Thanh Hóa boasted one economic zone, eight industrial parks covering over 2,000 hectares and 45 industrial clusters.

The province aims to attract $30 billion in foreign investment by 2025, with three to six companies in the top 500 multinational companies and corporations. — VNS