The Hanoitimes - The central province of Thanh Hoa is offering numerous incentives to call for investment in 50 projects totaling 5 billion USD in the locality.
They include exempting land rental fees and providing financial assistance for industrial parks (IPs) infrastructure construction and solid garbage treatment. Organisations and individuals who encourage enterprises to invest in the local IPs will also get a cash award of up to 500 million VND (22,000 USD).
Nghi Son deep water port in Thanh Hoa Province
According to Tran Thi Thu Hang, Director of the provincial Centre for Trade and Investment, nine out of 50 projects are in tourism sector with combined capital of 1.7 billion USD, together with 13 industrial projects worth 1.425 billion USD and nine urban area, industrial park and cluster projects valued at 945 million USD.
Prominent projects include a 700 million USD coastal resort in Quang Xuong district, a 300 million USD coastal tourism site in Sam Son city and a 250 million USD plastic factory with annual capacity of 100,000 – 300,000 tonnes.
Investment projects in culture, sport and environment fields will enjoy land lease exemption. They include the Thanh Hoa sports and fitness complex worth 210 million USD, the 100 million USD Nghi Son urban environment treatment economic zone with the daily capacity of 17,000 cubic metres and the 80 million grid-connected solar power plant.
A project to build the 300-bed Thanh Hoa Hospital of Traumatology and Orthopaedics also enjoys a reduction of up to 60 percent of the land rental fees. Besides land incentives, the local solid garbage treatment projects with the daily capacity of 200 tonnes will receive an assistance of 320,000 VND per tonnes of solid domestic waste.
Businesses investing in developing infrastructure of industrial parks in districts and and textile industrial clusters with capacity of 250 million USD will be provided with financial aid of between 0.7 – 2.3 billion VND per hectare. Thanh Hoa is concentrating on building the Lam Son-Sao Vang Hi-tech Industrial Park with a total area of 6,000 hectares, which is expected to become the province’s major economic area in the future.
The locality has recently ranked among the top ten in the provincial international economic integration index, the provincial competitiveness index, and the Vietnam Provincial Governance and Public Administration Performance Index, evidence of its promising progress towards favourable investment conditions.