Spectacular economic restructuring

As a land of "the head of the wind and waves", in the past it was just a mound, a wild swamp, but the people of Thai Binh with the spirit of solidarity, courage, endurance, and hard work have built dikes, reclaimed land from the sea to build Thai Binh from a purely agricultural province into a vibrant industrial and commercial province with a fairly high economic growth rate, firmly entering the new era.

Reduce the proportion of agriculture, increase the value of agricultural products

Since the dawn of time, the people of Thai Binh have worked together to transform wasteland into fertile fields, the granary of the Red River Delta. During the war years, while producing and fighting, Thai Binh farmers still had a "steady hand on the gun, a steady hand on the plow", setting a record of rice productivity of 5 tons/ha (in 1965), over 7 tons/ha (in 1974). Rice grains, potatoes, pigs, chickens... not only helped the people of Thai Binh get through the famine of 1945 but were also sent to the front lines to contribute to the whole country's defeat of foreign invaders.

Since implementing the renovation policy initiated by the Party, Thai Binh's agricultural production has changed from relying mainly on human labor and having low efficiency to 100% mechanized land preparation, 30% of sowing, 80% of harvesting, and 100% of rice milling. From scattered, small-scale, and self-sufficient production, many large-scale concentrated commodity production areas have been formed and developed, high-tech agriculture associated with processing industry in the form of sustainable value chain linkage, helping to increase product value and build brands for the province's agricultural products. Up to now, the production linkage area in the whole province is over 10,000 hectares, 270 cooperatives link product consumption with 20 enterprises, nearly 1,600 livestock farms, 20% of farms have an income of 2 billion VND/year or more.

Mr. Do Quy Phuong, Deputy Director of the Department of Agriculture and Environment, said: After nearly 40 years of innovation, Thai Binh agriculture has made great strides with many bright spots, shifting towards commodity production, increasing added value, strongly applying science and technology to production stages, gradually affirming its brand in the market, and increasing farmers' income. Therefore, although the agricultural land area has decreased, the province's total average annual rice output still reaches nearly 1 million tons. In 2024, despite the impact of storm No. 3, the total production value of the agricultural sector will still reach nearly 30,000 billion VND; the proportion of agriculture, forestry and fishery has decreased to only 19.7%, but the quality of agricultural products has improved, and the value per unit area has increased. The whole province currently has 261 3- and 4-star OCOP products, the economic value of the products increased by 20% or more after achieving OCOP, many high-tech agricultural production models appeared such as melons, milk grapes, tulips... Thai Binh is still investing so that agriculture continues to be a pillar in the province's long-term economic development, contributing to ensuring national food security.

Jiang Men Technology Bac Viet Co., Ltd. (Cau Nghin Industrial Park) invested in a modern, synchronous production line, creating jobs for nearly 200 workers.

Industry breakthrough, affirming core role

From a purely agricultural province, basically empty of concentrated industry, Thai Binh industry has now made a spectacular breakthrough, playing a pivotal role, being the driving force for the province's economic growth. That result was achieved because Thai Binh boldly allocated large land funds to plan and build industrial parks (IPs), industrial clusters (ICs), large commercial centers, including the Thai Binh Economic Zone. Comrade Vu Kim Cu, member of the Provincial Party Standing Committee, Director of the Provincial Economic Zone and Industrial Park Management Board, said:

In Thai Binh Economic Zone, there are 5 concentrated industrial parks built synchronously, modernly, exemplary, using high technology, of which Lien Ha Thai Industrial Park has come into operation and become the focus, the driving force for economic development of the province, a bright spot attracting new investment. The province has also mobilized all resources to invest in building a synchronous transportation system with many bridges, major roads connecting with other provinces, inter-regional connections, breaking the "oasis" situation; creating clean land, synchronous technical infrastructure in industrial parks, industrial clusters, especially the Economic Zone; having preferential policies to encourage maximum investment; always accompanying, promptly removing difficulties and obstacles for businesses, so Thai Binh has become an attractive destination for domestic and foreign investors. In 2024, the province's investment attraction will reach over 43,000 billion VND, of which FDI capital attraction will reach 1.16 billion USD; Average economic growth in the 2021 - 2024 period increased by 1.35% compared to the national average; over 1,000 newly established enterprises, bringing the total number of operating enterprises to over 7,600.

To build Thai Binh into the industrial development center of the region, the province encourages investment projects to develop industries with strengths that can create breakthroughs such as: energy, mechanics, processing, manufacturing; high-tech industry; electricity - electronics, manufacturing components and assembling automobiles; supporting industries, serving agriculture... Thai Binh Thermal Power Plant, LNG Power Plant project, manufacturing components, assembling automobiles, pharmaceutical - biological industrial park and a series of large projects that have come into operation and are being urgently implemented will turn Thai Binh into the energy center of the Red River Delta, a modern automobile industry center, home to the first large-scale, modern pharmaceutical - biological industrial park in the country, creating jobs for tens of thousands of local workers. The vibrant labor competition in factories and enterprises has contributed to increasing the province's industrial value in 2024 by 14.12% compared to 2023, raising the proportion of industry and construction from 39.9% (in 2020) to 44.3% (in 2024).

The province's trade and services have also made great strides with the bustling activities of Go and Vincom Trade Centers...; a widespread trade network with 218 markets, 15 supermarkets along with a system of convenience stores, mini supermarkets... meeting the consumption and exchange needs of the people. In 2024, the production value of the province's service sector will reach over 37,600 billion VND, an increase of 7.08%, total retail sales of goods and service revenue will reach nearly 80,000 billion VND, an increase of 15.2%, the average consumer price index (CPI) will increase by 5.16% compared to 2023; export turnover will reach 2,966 million USD, an increase of 12.2% compared to 2023...

Thanks to breakthrough solutions, the province's economic structure has shifted strongly towards increasing the proportion of industry, construction, trade and services from 72.5% (in 2020) to 80.3% (in 2024), reducing the proportion of agriculture from 27.5% (in 2020) to 19.7% (in 2024), contributing to the province's economic growth rate being among the highest in the country for many years. This is a solid foundation to turn the aspiration of building Thai Binh into a prosperous development, becoming the industrial development center of the region into reality.

THE PROVINCE CURRENTLY HAS:

11 Industrial Parks with a total land area of 2,768 hectares (5 Industrial Parks in Thai Binh Economic Zone). Of which, 7 Industrial Parks are operating, 4 Industrial Parks are carrying out site clearance and related procedures.
49 industrial parks with a total land area of 2,722 hectares have attracted 493 investment projects.