Ninh Binh province works hard to lure investors

In an attempt to turn itself into a developed province in the Red River Delta and a leading tourism center of the whole country and Southeast Asia, Ninh Binh has been striving to improve its business and investment environment.
Ninh Binh province works hard to lure investors

Producing automobile components in Thanh Cong Hwashin JSC - one of leading investors in Ninh Binh.

Numerous potential and comparative advantages

Ninh Binh province is located in the southern region of the Red River Delta, about 90km from Hanoi capital's centre. Thanks to its geographic location at the connection point between the Red River basin and the Ma River basin, and between the northern plain and northwestern mountainous region, the province has favourable conditions for economic and cultural exchanges with neighboring provinces and key economic localities in the North, and  the Hanoi - Hai Phong - Quang Ninh economic corridor.

Furthermore, Ninh Binh is home to long-standing historical tradition and culture with 1,821 historical sites, and it is endowed with numerous beautiful landscapes such as Trang An, Cuc Phuong National Park, Van Long nature reserve, and mangrove forest in Kim Son district.

Tourism has become a spearheaded economic sector and created momentum for the province's socio-economic development. Ninh Binh has been named in the world travel map, and become an attractive destination for foreign and domestic visitors.

In the past few years, Ninh Binh has been listed among top attractive destinations in Vietnam and 10 provinces and cities receiving the largest numbers of tourists by famous travel magazines like Telegraph, TripAdvisor and Business Insider. 

In industrial development, Ninh Binh has been focusing on developing infrastructure. It is now home to seven industrial zones with a total area of 1,472 hectares. To date, five of them have put into operation, with an occupancy rate of 100 percent.

The province has 17 industrial clusters covering a total area of over 600 hectares. Five out of the 17 industrial clusters have an occupancy rate of 100 percent while the others have an occupancy rate of 70.8 percent.

The automobile, automobile supporting and electronic industries have been developed with Hyundai Thanh Cong Vietnam Auto Joint Venture JSC being the leading investor in Ninh Binh.

The growth of Hyundai Thanh Cong has made great contributions Ninh Binh's development. It provides jobs for over 4,000 workers and contributes nearly 15 trillion VND to the state budget, turning Ninh Binh into one of the three largest automobile manufacturing centres in the country.

The development of Hyundai Thanh Cong proves the attractiveness of Ninh Binh's investment policies.

Currently, Hyundai Thanh Cong has accelerated the construction of its second plant. Once it becomes operational, the factory will be able to manufacture 100,000 cars per year.

To create momentum for its development, Ninh Binh has invested in upgrading and expanding major roads.  

The development of transport infrastructure has opened up space for growth, created strategic breakthroughs and become an important factor to spur  the province's socio-economic development.

A promising destination for investors

With favourable location, diverse potential, and suitable investment attraction policies, Ninh Binh has affirmed itself to be one of the most dynamic localities in economic development.

To become an attractive destination for investors, Ninh Binh has boosted investment promotion programmes.

Recently, it had held a meeting in Ho Chi Minh City to introduce its potential and advantages to investors.

This move showed the province's determination in expanding cooperation and attracting investment.

At the event, Ninh Binh introduced 14 groups of projects calling for investment in industrial development; commerce and service; hi-tech agriculture and urban infrastructure.

Ninh Binh province works hard to lure investors
A meeting to  introduce Ninh Binh potential and advantages to investors in Ho Chi Minh City.

As for industrial development, Ninh Binh will prioritise attracting investment in automobile supporting industry, electronic component manufacturing, hi-tech agricultural product processing, logistics service serving the automobile industry, and warehouse in three industrial parks namely Phu Long, Gian Khau 2 and Tam Diep 2.

As for tourism and service sectors, Ninh Binh give priority to luring investment in projects of service and commerce serving tourism development.

Meanwhile, many preferential policies and mechanisms have been issued to spur its agricultural growth. 

Ninh Binh prioritises projects on developing hi-tech agricultural production and processing.

In order to build synchronic infrastructure and develop modern and civilised urban areas, Ninh Binh has concentrated on calling investment in developing urban infrastructure, and commercial and service zones, creating urban landscape and improving the living environment for local residents.

At the conference, Chairman of the provincial People's Committee Pham Quang Ngoc also sent messages on investment attraction and strong commitments.

Ninh Binh has been implementing solutions to build a safe, friendly and transparent investment climate; adopt preferential mechanisms and policies; create favourable conditions for businesses.

At the meeting, investors expressed their interest in Ninh Binh's potential and development advantages, and shared their future plans in the province. They also put forth their opinions and suggestions. 

At the same time, big investors who are investing in Ninh Binh also shared their experience.

Mary Tarnowka, Executive Director of the American Chamber of Commerce in Vietnam (AmCham), spoke highly of Ninh Binh's investment promotion programmes, and said that abundant labour resources, stable socio-economic situation, synchronic infrastructure will help Ninh Binh create an attractive business climate for investors.

In particular, Ninh Binh has a clear viewpoint on investment attraction, with priority given to projects using high, modern, clean, and environmentally friendly technologies; creating products with high values and contributing big sums to the state budget. This would not only bring about opportunities of growth for investors but also create a stable foundation for Ninh Binh to develop in line with the trend of strengthening development cooperation.