Wednesday, October 26 2016


Fresh funds flow into Thanh Hoa on back of provincial support

Update: May, 18/2015 - 00:00

Trinh Van Quyet, chairman of FLC Group.

by Vu Hoa

Several major property developers such as FLC Group and Vingroup are flocking to the central province of Thanh Hoa to invest.

Why has the province become attractive to investors? Viet Nam News reporter Vu Hoa spoke to Trinh Van Quyet, chairman of FLC Group that has poured 5.5 trillion dong (US$260 million) into the FLC Samson Golflink and Resort project in the province's Thanh Hoa City.

Why did you choose Thanh Hoa for the large project?

We decided to invest in the central province for two reasons. First, the provincial authorities and leaders will strictly implement what they have said. When we went to the locality seeking investment opportunities, the leaders spoke clearly about mechanisms and policies to attract investment. At the groundbreaking ceremony, provincial Party Committee Secretary Trinh Van Chien reaffirmed the implementation of the policies as well as their determination and support to investors. They have taken drastic measures to quickly complete administrative procedures in granting investment licences and land clearance, and gave us several special mechanisms to implement the project.

The active participation of the authorities from the People's Committee and departments, from the provincial level to lower ones, have resolved several issues in a timely manner, while not many other localities have done the same.

We can say that Thanh Hoa is an investment destination where we can continue to carry out other projects in term of mechanisms. This is an important factor as administrative procedures raise investment costs.

Second, we invest in the project to take advantage of the recovery of the real estate market. I can affirm that we are right in investing in the project. We have received hundreds of applications for buying houses at the FLC Complex Thanh Hoa and FLC Resident villas in Sam Son Town. The number of golf member cards sold in the project was far higher than our expectations.

In addition, other large real estate groups such as Vingroup have also got investment opportunities in the province. Vingroup has invested in two first projects, thus bringing more investments to the locality.

Luxury villas on the coast of Thanh Hoa.

In the coming time, we will invest in the Hoang Long Industrial Zone in the province. The IZ location is favourable in terms of connecting comprehensive infrastructure, allowing us to explore development in the province.

I believe Thanh Hoa will become a largest key economic location in the country in the future, especially with Nghi Son Economic Zone.

In addition to support from the local authorities, did favourable natural conditions and compatible infrastructure also played important roles in your decision to invest in the province?

Yes. The province achieved an impressive GDP growth rate of 11.6 per cent in 2014, while the country's average was about six per cent. The growth rate is a huge jump in comparison with other localities, except Ha Noi, HCM City and Da Nang.

The Nghi Son EZ – one of the five key zones that the government has given preferential policies and mechanisms – is also one of the province's advantages.

A view of the golf course at the Samson Beach and Golf Resort.

After seven years of operations, the EZ has attracted several domestic and foreign investors to invest in projects. It has 65 investment projects with a total registered capital of $16.8 billion, including 15 FDI projects worth $10 billion. The province was placed eighth out of 63 cities and provinces in luring FDI capital.

Thanh Hoa has a favourable transport system, comprising roads, railways, sea ports and airways, as well as border with Laos, airports and the deep water Nghi Son Seaport to attract domestic and foreign investors.

In term of natural conditions, it has several places of scenic and historical interest.

A system of beautiful beaches such as Sam Son, Quang Cu Ecotourism Area, Hai Tien beach and Hai Hoa beach has been invested in and developed. — VNS

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