Accelerating Nghi Son Economic Zone development

16:19 | 21/04/2014 Investment

(VEN) - Thanh Hoa Province People’s Committee Deputy Chairman Nguyen Dinh Xung said at a business development and economic growth forum that took place recently in Hanoi that speeding up the Nghi Son Economic Zone’s development is an economic development orientation of Thanh Hoa in the 2014-2020 period.

The Nghi Son Economic Zone was established in 2006 over almost 18,612 hectares in 12 communes in Tinh Gia District, Thanh Hoa Province. The zone was designed for different industries with priority given to heavy industry.

Eight years plus after it began operation, the Nghi Son Economic Zone has attracted 94 investment projects totaling US$16.8 billion in registered capital, including 15 ongoing foreign direct investment (FDI) projects with a combined capital of almost US$10 billion. The economic zone boasts many large-scale projects including the 5.8 million tonnes per year Cong Thanh cement plant; the one million tonnes of steel billet per year Nghi Son steel plant; Nghi Son 1 Thermoelectric Plant, Nghi Son 2 Thermoelectric Plant and some other power projects with a total capacity of 2,400MW; and the US$9 billion Nghi Son refinery project.

Xung assessed that projects in the economic zones contributed greatly to transforming the provincial economic structure towards industry. When the Nghi Son refinery begins operation it will satisfy 40 percent of the country’s demand for petrol and oil, contributing to promoting economic growth in Thanh Hoa in particular and the country in general and having a positive impact on the development of many other industries in the province and nearby localities. Apart from large ongoing and under-construction investment projects, the Nghi Son Economic Zone is expected to attract small to medium-sized businesses to develop support industries and downstream industries and create jobs. An estimated 35,000 people work in the Nghi Son Economic Zone in 2014.

Building the Nghi Son Economic Zone into the province’s development core is a top priority in Thanh Hoa. It will help make Thanh Hoa rapidly develop into a major economic hub between northern and northern central regions and a leading economic center in Vietnam.

Thanh Hoa will be submitting to the government a project to expand the Nghi Son Economic Zone to 45,000 hectares to cover all of Tinh Gia District and propose that the government add the province’s Thach Quang, Ngoc Lac, Lam Son – Sao Vang, Hoang Long, Bai Tranh and Tay Bac Ga industrial parks to the Vietnam industrial zone plan so these industrial parks can bring into play their potential and connectivity between the Nghi Son Economic Zone and industrial parks in the province can be built.

Along with preparing plans for expanding the Nghi Son Economic Zone, Thanh Hoa will survey traffic flows and infrastructure in specific regions and prepare plans for forming an uninterrupted transport system including roads, railways and waterways, aimed at effectively serving socioeconomic development in the province. Within the Nghi Son Economic Zone, Thanh Hoa will prioritize development of coastal roads, a road connecting the Nghi Son Economic Zone with Hoang Mai in Nghe An Province, North-South Road 2, East-West Road 4, and Road 513 linking the economic zone with National Highway 1A, upgrade the Tho Xuan Airport into an international airport, accelerate the expansion of Highway 1A and construction of a highway connecting Ninh Binh Province with the Nghi Son Economic Zone. The province will have investment and infrastructure development promotion policies to speed up the development of the Nghi Son Economic Zone and industrial parks, and connect the Nghi Son Seaport with key urban economic hubs in the province.

Thanh Hoa will continue to focus on creating a clear, more attractive legal framework to attract investors to the Nghi Son Economic Zone, improve the investment environment, administrative reform, information technology application, efficiently exploit online public services to create favorable conditions for organizations and inpiduals to accomplish formalities, actively assist businesses surmount difficulties, definitively resolve problems related to site clearance and site clearance compensation, make public information about plans and land rents in the province in general and in the Nghi Son Economic Zone in particular./.

                                By Lan Ngoc