HÀ NỘI — Prime Minister Phạm Minh Chính on May 12 emphasised the need for Thái Bình to enhance traffic connectivity and build more industrial parks to achieve rapid and strong development, given that the northern province is rich in historical, cultural, and especially revolutionary traditions, yet it remains economically underdeveloped.

Therefore, the Prime Minister has consistently prioritised the development of transport and industrial infrastructure in the province, reflected through the start of construction on a Việt Nam-Singapore Industrial Park (VSIP) in the locality in March, Chính said while attending the groundbreaking ceremony for the Ninh Bình–Hải Phòng Expressway Project’s section passing through Nam Định and Thái Bình provinces, which was connected online to the groundbreaking ceremony for the Hưng Phú Industrial Park in Thái Bình.

These moves demonstrate the implementation of the Party’s policies on infrastructure development - one of the three strategic breakthroughs, and on addressing bottlenecks in transportation.

The groundbreaking ceremonies affirm the government’s determination to create an attractive investment and business environment for both domestic and foreign investors; foster provincial and regional connectivity, generate momentum and open new development space for Thái Bình and the northern coastal region; effectively apply the public-private partnership model in infrastructure investment; reduce pressure on the state budget while mobilising private resources and management capacity, he said. 

Considering Hưng Phú Industrial Park as a public-private partnership model based on the public leadership - private governance method, the Government leader directed the province to promote this cooperation model, organise smart governance, promote green and sustainable development, and attract investment in the direction of high and clean technology.

The Prime Minister requested ministries, sectors, localities, agencies and units to make efforts to shorten the timeline and strive to complete the projects in 2026 to soon put them into use, thus bringing benefits and socio-economic development momentum not only to Thái Bình but also to the region and the country.

As part of the Ninh Bình–Hải Phòng Expressway, the 60.9km section running through Nam Định and Thái Bình provinces has a designed speed of 120 kilometres per hour, with four lanes.

This is the largest PPP investment project in Vietnam’s transport sector to date, with a total investment capital of VNĐ19.78 trillion (US$762 million). Its construction is scheduled for over 36 months, with basic completion expected in 2027 and operations commencing one year later.

The Hưng Phú Industrial Park is located in Nam Hưng commune, Tiền Hải district, covering an area of 209.08 hectares. The project has total investment of over VNĐ2.3 trillion and is developed by Geleximco Hưng Phú Industrial Park Joint Stock Company, a member of the Geleximco Group. — VNS