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| Panorama of Nam Dinh |
Nam Dinh is a coastal province located in the center of the southern Red River Delta, with a natural area of nearly 1,700 km2 and a population of nearly 2 million people, including 9 districts and cities. Nam Dinh has a 72 km long coastline and a system of Red River, Day River, and Ninh Co River flowing through it, convenient for waterway transport and marine economic development; is a transit hub and traffic gateway, with a synchronous and modern traffic network, convenient for connecting with Hanoi and economic centers (130 km from Noi Bai airport, 100 km from Hai Phong port).
Stable socio-economic development
In recent times, Nam Dinh has focused on implementing drastic, synchronous and comprehensive solutions to promote investment attraction and create resources for local socio-economic development.
In 2022, overcoming many difficulties, the socio-economic situation of Nam Dinh province continued to be stable and developed, with 12/14 targets reaching and exceeding the plan. The total GRDP is estimated to increase by 9.07%, the highest ever (in 2020 it increased by 6.97%, in 2021 it increased by 7.7%); the state budget revenue in the area reached 7,750 billion VND, equal to 117.4% of the estimate.
Industrial production index increased by 14.3%, goods export reached 3.0 billion USD, up 12.5% compared to 2021. Credit growth is estimated to increase by 15% compared to the beginning of the year. Total social development investment capital in the province increased by 16.5% compared to 2021. Total retail sales of goods and service revenue increased by 14.4% over the same period. Agricultural and fishery production grew by 3.9% compared to 2021. The province has also disbursed 100% of the public investment capital plan assigned in 2022, which is 5,556 billion VND.
In addition, Nam Dinh province also focuses resources on implementing key projects. Up to now, strategic and long-term projects have been basically formed, which will be the driving force for the province's development, such as: Coastal road, with a total length of 66 km, a total investment of nearly 2,700 billion VND; Development axis road connecting Nam Dinh province's marine economic zone with Cau Gie Ninh Binh expressway with a total length of 46 km, a total investment of over 5,300 billion VND (phase 1 completed)... The total investment from key projects is about 25,000 billion VND and the projects are expected to be completed between 2023 and 2025.
The total investment for key projects is about 25,000 billion VND and the projects are expected to be completed between 2023 and 2025.
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| Bao Minh Industrial Park - Nam Dinh. |
Upgrade infrastructure, increase investment attraction
Nam Dinh currently has industrial parks (IPs) quite close to Vietnam's key airports and seaports; many favorable conditions in terms of infrastructure and basic human resources, suitable for the needs and scale of production investment of domestic and foreign invested enterprises.
To attract investors, Nam Dinh province has stepped up mobilizing non-state budget capital to invest in building infrastructure for industrial parks and clusters (IPs) to create premises for secondary enterprises to carry out production and business projects.
At the same time, focus on mobilizing maximum resources to gradually invest in synchronous economic and social infrastructure systems, especially traffic infrastructure and infrastructure of industrial zones and clusters; focus on accelerating the construction of a synchronous and modern transportation system, connecting with key national traffic axes and provinces in the southern Red River Delta.
The locality has established a Center for public administration services, investment promotion and business support to carry out activities to assist, advise and create the most favorable conditions for investors who want to learn about opportunities in the province and quickly resolve administrative procedures.
In recent times, the locality has always been proactive in attracting new investors with a series of favorable and attractive conditions. In particular, proactively establishing and effectively implementing plans; currently urgently completing the Provincial Planning for the period 2021-2030, with a vision to 2050, in which all component plans such as electricity, water, telecommunications, infrastructure systems serving people's lives have been scientifically and synchronously integrated and ensured to meet the maximum investment needs for construction of production and business projects according to the plan.
In the first 5 months of 2023, Nam Dinh province attracted 3 newly licensed FDI projects and adjusted to increase investment capital with a total newly registered and additional capital of 126.7 million USD. Of which, the Investment Registration Certificate for the computer manufacturing factory project of Quanta Group of Taiwan (China) was granted with a registered capital of 120 million USD. Up to now, Nam Dinh province has 130 valid FDI projects with a total registered investment capital of 3,845 million USD. Foreign investors currently investing in the province come from 22 countries and territories. Most of the investment projects are in the fields of textiles, footwear, mechanics, electronics, etc. Taiwan (China), Korea, China and Japan are among the countries and territories with many investors implementing investment projects in Nam Dinh.
Nam Dinh province is promoting investment in road, railway and waterway infrastructure; in the next 3 years, road traffic will be relatively complete, connecting smoothly to airports and seaports of regional and national centers, very convenient for investors. Nam Dinh is also one of the localities with the best quality of supply nationwide in terms of electricity and telecommunications infrastructure. Some industrial parks still have land funds to attract secondary investors, including: Rang Dong Textile, Bao Minh expansion, My Thuan, Trung Thanh, Hong Tien...
At the same time, Nam Dinh province also focuses on removing bottlenecks, improving competitiveness to attract investment, speeding up the completion of infrastructure in some industrial parks and clusters to attract secondary investors in production and business; creating clean land funds to attract large-capital projects and environmentally friendly technology.
In particular, in recent times, Nam Dinh provincial leaders have proactively met and worked with embassies of other countries and large enterprises and corporations with potential to introduce the province's potentials, strengths, mechanisms, preferential policies, and support for enterprises to attract large and potential investors.
Expecting a breakthrough
Nam Dinh aims to become a well-off province in the country by 2030. To achieve this goal, in the coming time, Nam Dinh province will focus on directing and implementing site clearance for key projects in accordance with regulations, ensuring progress, thereby promoting investment attraction, calling for investors to invest in existing, under-development and planned industrial parks and clusters.
To reform administrative procedures and attract investment, Nam Dinh province continues to enhance the leadership, direction, management, dynamism and pioneering role of leaders at all levels and sectors in implementing administrative reforms, improving competitiveness, promoting and attracting investment. On the other hand, well implement planning and planning management. Improve the quality of planning and planning management to serve the needs of economic development.
In addition, mobilize maximum resources to invest in building economic and social infrastructure. Focus on mobilizing maximum resources to invest in developing the economic and social infrastructure system in a synchronous and modern direction. Prioritize capital sources to invest and soon complete a number of key traffic projects of long-term strategic significance. At the same time, improve the investment and business environment, enhance competitiveness, innovate investment promotion and attraction activities...
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