Taking public investment as the lead, attracting social investment

The Ring Road V through Phu Binh district (connecting with Bac Giang province) has been basically completed, contributing to creating a regional traffic system and promoting investment attraction. Photo: TL

Promoting disbursement of public investment capital

The People's Committee of Thai Nguyen province has developed an economic growth scenario for 2025 and the main economic development goals and targets include: Gross Regional Domestic Product (GRDP) increases by 10.5% compared to 2024 (of which the agriculture, forestry and fishery sector increases by 4%; the industry - construction sector increases by 12.3%; the service sector and product taxes minus product subsidies increase by 8.3%). Attract 4.6 billion USD in foreign direct investment (FDI); 42.8 trillion VND in domestic investment capital outside the budget. Total investment and development capital for the whole society reaches 104,100 billion VND.

This year, the public investment capital (PIC) plan of Thai Nguyen province assigned by the Prime Minister is 5,584 billion VND; the PIC assigned by the Provincial People's Council and Provincial People's Committee is 6,625 billion VND. The Provincial People's Committee sets a target that by January 31, 2026, Thai Nguyen will disburse 100% of the PIC plan assigned in 2025.

Since the beginning of the year, in monthly meetings as well as in management work, the leaders of the Provincial People's Committee have resolutely directed localities to strive to successfully achieve the three goals of disbursement of ODA, budget collection and economic growth.

Following the direction of the Provincial People's Committee, units and localities have developed disbursement plans, requiring investors to report and comply with disbursement progress on a monthly and quarterly basis; assigning leaders to be responsible for each project, strictly controlling the scale, progress and investment efficiency. At the same time, proactively propose timely capital transfer plans of projects and those in need of speeding up progress according to regulations, especially important, urgent, key projects, and connecting infrastructure projects.

Present at a number of key projects in the province, such as: The connecting route connecting the provinces of Thai Nguyen - Bac Giang - Vinh Phuc; Ring Road V section through Phu Binh district (connecting with Bac Giang province); the connecting route from Bac Son road to the provincial sports complex; Ring Road I (section Bo Dau, Phu Luong - Hoa Thuong, Dong Hy) and the Hoa Thuong urban bypass route..., we see that the site clearance progress is being accelerated to complete construction and put into use this year.

Along with that, the projects: Thai Nguyen Stadium, the headquarters of the Provincial Agencies are being accelerated, striving to complete in the second quarter of 2025. For the Quang Vinh 1 and Quang Vinh 2 Bridge Construction Project, the contractor will construct as soon as the site is available. When the two bridges are completed, they will contribute to connecting traffic infrastructure, creating conditions to attract investment in urban development projects in Thai Nguyen City and neighboring areas.

The Hanh Phuc - Xuan Phuong Industrial Cluster (Phu Binh) located next to the Ring Road V has completed over 90% of the construction volume. Photo: Manh Hung

In 2025, the Provincial Traffic and Agricultural Project Management Board was assigned a total capital plan of over VND 1,522 billion, allocated to 12 projects. With the strong direction of the investor, the disbursement of public investment capital for a number of projects achieved quite high results.

Specifically, the project connecting provincial road (DT) 265 from Binh Long commune (Vo Nhai) to Bac Giang, the disbursement value on the granted capital value reached 100% (47/47 billion VND); the Ring Road V project through Thai Nguyen province, the disbursement value on the granted capital value was 45.395/114.683 billion VND, reaching 39.58%; the Ring Road I project (section Bo Dau, Phu Luong - Hoa Thuong, Dong Hy) and the Hoa Thuong urban bypass, the disbursement value on the granted capital value was 44.5/78 billion VND, reaching 57.05%...

Mr. Tran Trong Cuong, Deputy Head of the Provincial Traffic and Agricultural Project Management Board, affirmed: As the investor, the Board has closely coordinated with localities with projects to speed up the progress of site clearance, taking advantage of favorable weather conditions to carry out construction as soon as the site is available. Every week, we organize progress checks, promptly remove difficulties and obstacles, and strive to complete the 2025 VĐTC disbursement plan at the highest level...

Unlocking resources, attracting social investment

Total social investment capital in the province in the first quarter of 2025 is estimated at nearly 14.3 trillion VND, the highest ever, up 8.7% over the same period last year. Of which, capital from the domestic economic sector reached nearly 7.4 trillion VND, up 3% over the same period; capital from the foreign-invested economic sector reached nearly 6.9 trillion VND, up 15.7%.

Looking at the total social investment figures in the first quarter from 2021 to 2024, which are respectively VND 8,700 billion; VND 11,577 billion; VND 11,784 billion and VND 13,165 billion, we see that resources have been unlocked, Thai Nguyen is the destination of large domestic and foreign corporations.

In the first quarter of 2025, the province newly registered investment for 4 FDI projects with a total registered capital of 104.9 million USD; adjusted capital increase for 11 projects with a total increased capital of 128.1 million USD (3.7 times higher in number of projects and 17.5 times higher in registered capital compared to the same period).

Up to now, the province has 224 valid FDI projects, with a total registered capital of 11.16 billion USD.

Notably, the Song Cong II Industrial Park Infrastructure Construction and Business Investment Project - Phase 2 was started on March 10, 2025, with a land use scale of nearly 300 hectares, with a total investment capital of nearly 4 trillion VND, invested by Viglacera Thai Nguyen Joint Stock Company (a member enterprise of Viglacera Corporation).

This is a multi-industry industrial park, with the criteria of a green growth, sustainable development and environmental friendliness industrial park. Priority is given to the development of manufacturing, electronics, clean energy, renewable energy, telecommunications, pharmaceuticals, etc.

When completed, the project will open up many new opportunities, contribute to creating more jobs, increasing budget revenue and promoting economic restructuring towards industrialization and modernization.

The Flamingo Majestic Island Resort project is invested by Flamingo Group at Nui Coc Lake, with a total planning area of ​​over 61 hectares (including over 41 hectares of lake surface). Photo: LK

Just 5 days later, on March 15, 2025, at Nui Coc Lake, Flamingo Group officially started construction of the Flamingo Majestic Island Resort Project, with a total planning area of ​​61.01 hectares (of which 41.26 hectares is lake surface area).

The resort includes 107 luxury villas, separate bungalows and a system of personalized utilities according to 6-star standards and is the first 6-star resort in the North...

The above results are vivid evidence that public investment with focus on infrastructure of industrial parks, clusters, transportation, urban areas, etc. has led, activated and attracted social investment in the province.

Since then, Thai Nguyen has created an attractive investment environment, attracting investors and large economic groups at home and abroad, especially projects with great influence, environmentally friendly, bringing high added value, creating momentum for sustainable socio-economic development...

Source: https://baothainguyen.vn/kinh-te/202504/lay-dau-tu-cong-dan-dat-thu-hut-dau-tu-xa-hoi-18427b9/