Nam Dinh has a natural area of about 1,700km2 , a coastline of 72km, a population of more than 2.23 million people (of which 1.6 million people live in rural areas); holds a strategic position in the center of the Southern Red River Delta, influenced by the economic triangle of Hanoi - Hai Phong - Quang Ninh and the economic belt of the Gulf of Tonkin. Along with taking advantage of geographical advantages, efforts to complete the infrastructure system, improve the business environment and proactively and effectively apply attractive incentive policies, a set of clear investment attraction criteria, Nam Dinh is creating a breakthrough in attracting high-quality investment capital, making an important contribution to socio-economic growth.
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| The new Nam Dinh - Lac Quan - coastal road is being accelerated in construction progress to put it into operation soon, increase inter-regional connectivity, and serve the socio-economic development of the province. |
Incentive policies and clear criteria for attracting investment
In order to optimize the investment environment, Nam Dinh has proactively implemented strong incentive policies, in line with the province's development orientation. Specifically, the province has approved the implementation of Resolution No. 50-NQ/TW dated August 20, 2019 of the Politburo and Resolution No. 58/NQ-CP dated April 27, 2020 of the Government, issued strategic plans including Plan No. 73-KH/TU dated November 22, 2019 and Plan No. 75/KH-UBND dated August 17, 2020 to perfect mechanisms and policies to attract investment, especially foreign investment. These documents not only create a favorable investment environment but also raise awareness and clearly assign groups of solutions to each level of government and functional sectors in attracting quality investment.
In order to select and prioritize projects in line with the planning and development orientation of industries, sectors and localities, the province has established a strict system of investment attraction criteria. Specifically: Prioritize investment in industrial parks (IPs) and industrial clusters (ICs) according to Document No. 814/UBND-VP5 dated November 20, 2018 to make the most of available infrastructure and local labor resources. Limit investment outside the planning area, only consider projects with special socio-economic impacts according to Document No. 419/UBND-VP5 dated June 9, 2022. Conduct transparent bidding to select investors for land use projects, according to Resolution No. 123/2024/NQ-HDND dated December 10, 2024, helping to increase competitiveness and efficiency in land use.
Currently, the province is closely following the Planning for the period 2021-2030 and the vision to 2050 approved by the Prime Minister in Decision No. 1729/QD-TTg dated December 29, 2023 to promote the development of mechanisms, preferential policies and support for attracting investment. In particular, the province focuses on building and perfecting mechanisms, preferential policies, and support for attracting investment in infrastructure construction of Ninh Co Economic Zone (EZ), industrial parks and clusters, and attracting secondary investors to invest in production and business in EZs, industrial parks and clusters. The province is interested in creating favorable conditions for large investors from the US, EU, Japan, Korea, Singapore as well as large domestic corporations to come to Nam Dinh. The province prioritizes attracting key industries such as: Supporting industry, processing, pharmaceutical industry, high-tech agriculture, clean production; Along with the development of eco-tourism areas, marine tourism areas and modern management, connecting the global production chain, thereby creating a spillover effect, promoting socio-economic development. In particular, the province sets high requirements for investors in terms of technology, environmental standards and the ability to create high added value, in order to avoid ineffective and unsustainable investment projects.
Efforts to improve the business environment and impressive results
Along with preferential policies, Nam Dinh is also determined to improve the business environment to create the most favorable conditions for enterprises: Promote strong administrative reform and optimize the investment environment; shorten time, reduce costs through administrative procedure reform, create transparency and convenience for enterprises. Notably, the provincial authorities are always proactive in coordinating and supporting enterprises to remove barriers in the process of site clearance, construction licensing and construction quality management.
The province has promoted investment in building socio-economic infrastructure with key projects, creating a solid foundation for investment activities: The province's transport infrastructure with projects to build coastal roads, roads connecting the marine economic zone with the Cau Gie - Ninh Binh expressway, the new Nam Dinh - Lac Quan - Coastal road and the Day River overpass project... are focused on accelerating progress, helping to shorten travel time and reduce freight costs. The province also focuses on promoting the construction of Ninh Co Economic Zone and developing industrial zones and clusters according to the 2021-2030 Planning period and vision to 2050 to create space to attract businesses to invest, develop production and business. In particular, Ninh Co Economic Zone was approved by the Prime Minister in Decision No. 88/QD-TTg dated January 14, 2025 with a scale of 13,950 hectares, located in Nghia Hung and Hai Hau districts to develop into a comprehensive, multi-sector, multi-functional coastal economic zone. Currently, the sectors and localities of the province are focusing on implementing and promoting the progress of related tasks in phase 1 (2024-2026) in the overall roadmap for establishing Ninh Co Economic Zone; focusing on completing the general planning for the construction of the economic zone and investing in a number of important projects. A series of industrial zones and clusters according to the Planning for the period 2021-2030 and vision to 2050 have also been actively attracting and promoting investment progress. In particular, the progress of completing infrastructure investment in industrial zones and clusters is being accelerated to attract secondary investors, such as: Rang Dong Textile Industrial Zones (Nghia Hung), My Thuan (Nam Dinh city), Bao Minh expansion (Vu Ban) and Yen Bang, Thanh Coi, Tan Thinh, Giao Thien industrial zones... Currently, the province is actively supporting investors to prepare related conditions to soon deploy investment in the construction of industrial zones of Trung Thanh, Hong Tien (Y Yen), Hai Long (Giao Thuy), Nam Hong (Nam Truc), Xuan Kien (Xuan Truong), Minh Chau (Nghia Hung)... Economic zones, industrial zones and clusters are the main driving forces to promote sustainable economic growth and increase the added value of key industries.
Thanks to the strong direction from authorities at all levels, functional sectors, attractive incentive policies and specific investment criteria, Nam Dinh has not only created a favorable investment environment but also recorded impressive investment attraction results, becoming an attractive destination, a reliable address for large domestic and foreign enterprises with projects that bring high added value, contributing to optimizing budget revenue and promoting economic development. Notably, investors from 20 countries such as Singapore, Hong Kong, China and South Korea have registered large capital for key projects. Typically, the project of Quanta Group (Taiwan) in My Thuan Industrial Park with an investment capital of 120 million USD is expected to generate revenue of up to 9 billion USD/year and contribute to the budget of about 90 million USD/year. A typical group of domestic investors is Xuan Thien Group investing in a complex of 3 green steel projects using advanced technology from G7 countries with a total investment of 98,900 billion VND in Nghia Hung... The results achieved in attracting investment have contributed to the continuous development of the province's socio-economy. In 2024, the province continued to achieve many impressive and comprehensive results in all fields, notably: Total GRDP is estimated to increase by 10.01% (ranked 9th in the country and 4th in the Red River Delta, the second consecutive year that the GRDP growth rate reached double digits); industrial production index is estimated to increase by 14.56%; total social investment capital is estimated to increase by 18%; State budget revenue in the area reached 14,828 billion VND, an increase of 42% compared to 2023 (far exceeding the target set by the Resolution of the 20th Provincial Party Congress of 10 trillion VND)... This is a clear demonstration of the effectiveness of the province's investment attraction and business environment improvement policies.
With a quality investment attraction strategy, strong support from the government and a set of methodical investment criteria, Nam Dinh has not only become an attractive destination for large enterprises but also created a solid foundation for sustainable development in the future. The province is gradually realizing its important role in the global production value chain.
Article and photos: Thanh Thuy
Source: https://baonamdinh.vn/kinh-te/202502/chinh-sach-uu-dai-hap-dan-chia-khoa-thu-hut-dau-tu-hieu-qua-dca0d9c/
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