Industrial Parks in Thanh Hoa Province Attract Investment
Geographical Location
Thanh Hoa is one of the largest provinces in Vietnam, both in terms of area and population. It ranks 5th in area and 3rd in population nationwide, with a total natural area of 11,120.6 km². Thanh Hoa’s geographical position is as follows:
- To the North: borders Son La, Hoa Binh, and Ninh Binh provinces.
- To the South: borders Nghe An province.
- To the West: borders Houaphanh province of Laos with a 192 km border.
- To the East: opens to the central part of the Gulf of Tonkin in the East Sea, with a coastline of over 120 km.
Administrative Units
Thanh Hoa province consists of 27 administrative divisions, including 2 cities, 2 towns, and 23 districts. The province has 559 commune-level administrative units, comprising 60 wards, 30 townlets, and 469 communes.
Population and Education Levels
Thanh Hoa is the 3rd most populous province in Vietnam, after Hanoi and Ho Chi Minh City. According to 2020 statistics, the province’s population is 3,664,900, with over 2.5 million people of working age (accounting for more than 60% of the total population). This abundant workforce meets the demands of investors in the industrial parks of the province.
The provincial leadership prioritizes training and human resource development. Most of Thanh Hoa’s workforce has a good level of education and technical expertise.
Educational System
Thanh Hoa has a long-standing tradition of education. Currently, the province hosts:
- 2 universities, numerous university branches, 1 pre-university school, 13 colleges, and 18 vocational schools.
- In the 2020–2021 academic year alone, the province had over 870,000 students.
This educational strength gives Thanh Hoa a competitive edge in attracting domestic and foreign investment, contributing to a skilled workforce for industrial development.
Transportation System
Thanh Hoa is one of the few provinces with a comprehensive transportation network, including road, rail, waterway, and air transport. As of 2021, Thanh Hoa has developed 18 bus routes connecting the plains and some mountainous districts.
Road Transport: Thanh Hoa has six key national roads with a total road network length of over 8,000 km, including:
- National Route 1A and National Route 10 traversing plains and coastal areas.
- Strategic National Route 15A and the Ho Chi Minh Highway (98.8 km in Thanh Hoa).
- National Routes 45 and 47 connecting the plains, mountains, and central regions.
- National Route 217 connecting Thanh Hoa to Houaphanh province, Laos.
- The Trans-Asia Highway (AH1) runs through Thanh Hoa on National Route 1A.
Rail Transport: The North-South Railway runs 92 km through Thanh Hoa, with 9 stations facilitating passenger and cargo transportation.
Waterway and Maritime Transport: Thanh Hoa has over 1,600 km of waterways, with 487 km accessible to vessels from 20 to 1,000 tons. Key ports include:
- Le Mon Port:Capacity of 300,000 tons/year for 600-ton vessels.
- Nghi Son Deep-Water Port:Handles ships over 50,000 tons and is being developed into an international logistics and transport hub.
Air Transport: Tho Xuan Airport aims to become a backup airport for Noi Bai International Airport, serving an average of 400,000 passengers annually.
Economic Overview (2020 and First Half of 2021)
Amid global economic slowdown, risks, and challenges, Thanh Hoa has strived to achieve industrial and socio-economic development targets, facilitating economic growth. Between 2019 and 2021, the province experienced positive socio-economic changes.
GRDP Growth:
- In 2020, GRDP growth reached 6.08%, the highest in Northern and Central Vietnam, despite not meeting the target of 12.5%.
- In the first half of 2021, GRDP grew 8.66% compared to the same period in 2019:
- Agriculture, forestry, and fisheries grew by 3.4%.
- Industry and construction grew by 12.9% (industry alone increased by 13.91%).
- Services grew by 7.3%.
Economic Structure (First Half of 2021):
- Agriculture, forestry, and fisheries: 18.68% (down 0.07%).
- Industry and construction: 43.67% (up 1.25%).
- Services: 32%.
GRDP per Capita: In 2020, GRDP per capita reached 53.7 million VND (equivalent to $2,325 USD).
Import and Export:
- 2020 export value: $3.76 billion (up 1.6%).
- Import value: $5 billion (up 1.8%).
Industrial Parks in Thanh Hoa Attract Investment
Between 2016 and 2020, Thanh Hoa attracted 1,204 direct investment projects, including 136 foreign direct investment (FDI) projects with registered capital exceeding $13.4 billion, ranking 8th nationwide.
As of March 2021, Thanh Hoa had attracted 159 FDI projects with total registered capital of $14.53 billion.
Industrial Park Scale in Thanh Hoa
Thanh Hoa province has focused on planning industrial parks (IPs) and the Nghi Son Economic Zone (EZ), which spans 106,000 hectares. Thanh Hoa currently has 8 industrial parks with a total area of 2,250 hectares, including:
- Le Mon IP, Dinh Huong-Tay Bac Ga IP, Bim Son IP, Hoang Long IP, Lam Son-Sao Vang IP, Ngoc Lac IP, Bai Tranh IP, and Thach Quang IP.
In the 2016–2020 period:
- Total production and service value in IPs reached 57,034 billion VND.
- State budget contribution: 56,379 billion VND.
- Export turnover: $8.5 billion.
- Import turnover: $14 billion.
By 2045, Thanh Hoa plans to develop the Na Meo international border gate and two industrial-service zones, including a 1,200-ha industrial park in Quan Son district and an 800-ha IP in Northern Thanh Hoa City.
Competitive Edge of Industrial Parks in Thanh Hoa
Strategic Location:
- Nghi Son Deep-Water Port handles ships up to 100,000 tons.
- Tho Xuan Airport with plans for international status.
- Na Meo Border Gate connects Laos and Southeast Asia by road.
Abundant Workforce:
Thanh Hoa has over 2.5 million working-age people, comprising 60% of its population.
Attractive Land Lease Rates:
The average industrial land lease rate in Thanh Hoa is $40–50/m², significantly lower than neighboring provinces:
- Hanoi: ~$180/m²
- Hai Phong: ~$95/m²
- Hung Yen: ~$85/m²
Hai Duong: ~$75/m²
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