The first pharmaceutical–biological industrial park in Vietnam will be built in Thai Binh province, spanning ​​over 345 hectares. — Photo: baophapluat.vn

THÁI BÌNH — Foreign direct investment (FDI) inflows in the northern province of Thái Bình have exceeded US$1 billion for the second consecutive year in 2024, according to local authorities.

Last year, the province attracted nearly $3 billion in FDI, with the LNG thermal power plant project making up a significant share of $1.99 billion. Located on the northeastern coast of Việt Nam, Thái Bình is part of the Hà Nội - Hải Phòng - Quảng Ninh strategic development triangle, and sits at the centre of the northern coastal economic zone, making it ideal for investment.

Along with organising various investment promotion activities abroad, the locality has hosted many domestic and international corporations exploring investment opportunities there.

The Thái Bình Economic Zone, spanning more than 30,580 hectares, and located near Cat Bi International Airport (35km away) and Lạch Huyện International Port (50km) in Hải Phòng city, has attracted numerous big investors. Since 2021, many new industrial zones have been established like Liên Ha Thai, Hai Long, and VSIP Thái Bình. Nguyễn Quang Hùng, Vice Chairman of the provincial People's Committee, said that the locality prioritises investors with strong capabilities, advanced technology, and high-value projects that would contribute significantly to its economic development.

The official said that Thái Bình plans to strengthen efforts to improve the business environment, address challenges that hinder investment, and promote production, while supporting investors and improving its infrastructure system.

Thái Bình aims to become a leading industrial centre in the Red River Delta by 2030, with a thriving economy and a sustainable environment by 2050. — VNS