Thanh Hoa strives to disburse 100% of public investment capital this year. (In photo: Thanh Hoa City Children's Cultural Palace is accelerating construction to complete and put into use in June 2025). Photo: PV

The "golden nudges"

If Thanh Hoa’s economy is likened to a large ship on a journey of integration and breakthrough, then key projects and works are the powerful “engines” that help the ship accelerate through the waves. From the newly lit-up coastal tourism space to the bustling industrial parks, each completed major project is like a “golden push”, creating a strong momentum for the province’s economy.

On the eve of the 2024 summer tourist season, the Sea Square - the festival landscape axis of Sam Son City with a total investment of nearly 1,456 billion VND invested by Sun Group and Thanh Hoa province in the form of public-private partnership (PPP) was officially inaugurated - carrying the crystallization of the aspiration to bring Thanh Hoa tourism to the national level. This is not only an important milestone in tourism infrastructure, but also a strong catalyst to help Sam Son tourism accelerate, affirming its position as the leading destination in the North and North Central regions.

And then, more than 8.86 million visitors flocked to Sam Son in 2024, with total tourism revenue reaching more than 17,100 billion VND - record numbers that have helped Sam Son firmly consolidate its position as the "capital of coastal tourism" in the North. From seasonal tourism, Sam Son has now truly transformed into a high-class festival, tourism, and resort center. The sea square is not only a new symbol of the coastal city, but also a connecting space, expanding service business opportunities, attracting multi-industry and multi-field investment. A beautiful landscape axis, a vibrant festival rhythm, and endless waves of tourists - all are creating an abundant source of vitality, contributing significantly to the province's GRDP growth.

In the picture of Thanh Hoa’s industrialization development, Nghi Son Refinery and Petrochemical Plant deserves to be considered the “strongly beating heart” of the province’s economy. As a major national key project, the plant continues to affirm its leading role, leading the entire industrial production and trade and service sector of Thanh Hoa province into a new phase of acceleration.

In 2024, in the context of the world's petroleum market's strong fluctuations, Nghi Son Refinery and Petrochemical Company Limited not only maintained operations beyond its design capacity, but also made impressive marks in the international market by successfully exporting many "made in Vietnam" petrochemical products to the world. The total production value that the factory brought in the year reached nearly 190,000 billion VND, accounting for 68% of the production value of the entire Nghi Son Economic Zone (KKTNS) and the province's industrial parks. In terms of budget contribution, the impressive figure of more than 24,700 billion VND has officially brought Thanh Hoa back to the "VND 50,000 billion budget collection club" after a challenging period.

Sea square - the festival landscape axis of Sam Son city - contributes to the rapid growth of Sam Son tourism revenue.

These are not just dry numbers. Behind them is the strong vitality of a modern oil refinery complex, which is shouldering about 40% of the country's domestic gasoline demand. It is a spreading power with more than 1,500 direct jobs and tens of thousands of indirect workers. Hundreds of enterprises inside and outside the province benefit from the service supply chain, from mechanical equipment and supplies, complex technical maintenance, to towing crude oil ships at sea. It is also a strong impact on the trade balance, contributing to reducing the trade deficit for Thanh Hoa's import-export balance and ensuring national energy security.

In the heart of the vast Nghi Son Economic Zone, the Nghi Son 2 Thermal Power Plant - with a total investment of 2.8 billion USD is also operating day and night, supplying 7.8 billion kWh of electricity to the national grid each year, with a production value of 17,263 billion VND in 2024. With modern supercritical coal-fired thermal power technology, the plant not only ensures high power generation efficiency and fuel economy, but also strictly controls greenhouse gas emissions, making it more environmentally friendly. In the overall development picture of Thanh Hoa, the Nghi Son 2 BOT Thermal Power Plant is playing the role of "energy rear", ensuring stable electricity supply for the entire Nam Thanh - Bac Nghe region and directly serving large-scale industrial production sectors in the Nghi Son Economic Zone. From here, the investment door is opened, attracting more heavy industry, metallurgy, chemicals, logistics services projects... to Thanh Hoa province.

Not only enriching economic growth figures, key projects have contributed to changing the industry structure, raising the local image on the national industrial, tourism and service map.

Towards the peak of growth

The “golden push” from key projects and works not only creates a solid foundation for Thanh Hoa’s economy, but also arouses great aspirations for a journey of outstanding development. Building on the foundation of existing achievements, Thanh Hoa is entering a new acceleration phase, with a GRDP growth scenario of 11% in 2025 - a challenging target, but also full of opportunities when the position and strength have strongly converged.

In order to realize the growth scenario with the "ambition" of double digits this year, Decision No. 921/QD-UBND dated March 31, 2025 on promulgating the economic growth scenario of Thanh Hoa province in 2025 has opened an ambitious economic plan; in which, the role of key projects that have just been completed or are operating stably has been, are and will continue to play a key role in creating strong and sustainable growth momentum.

Accordingly, Thanh Hoa province strives to maximize the effectiveness of key projects and works to promote increased industrial output and tourism services, maximize efficiency to create direct growth momentum; promote public investment and disbursement of capital with the target of 100%, focusing on key infrastructure projects such as inter-regional transport, industrial park infrastructure, and dynamic urban areas. Projects such as coastal roads, belt roads of the economic zone, water supply and power supply infrastructure systems, etc. are being accelerated, creating great room for production development and investment attraction.

Thanh Hoa also promotes attracting direct investment, especially attracting high-quality FDI. In particular, the province focuses on promoting key investments in the following industries: manufacturing and processing industry, clean energy industry, logistics, seaports, high-end resort tourism... In particular, it focuses on selecting investors with financial capacity, high technology, and environmental friendliness to ensure sustainable development, in line with the new economic restructuring orientation. The province also issues goals and orientations in strongly improving the investment and business environment, continuing to cut administrative procedures, supporting investors to quickly implement projects; developing high-quality human resources, meeting the requirements of modern industrial production.

Duc Giang Nghi Son Chemical Company Limited is focusing on human resources to construct the foundation of the project.

In the first quarter of 2025, the growth driver - Nghi Son Refinery and Petrochemical Plant continued to operate beyond its design capacity, maintaining 110% of the plan. Mr. Kazutaka Yamato, General Director of NSRP shared: “The plant aims to supply 2,294,000 tons of products in the second quarter, affirming its important role in meeting the demand for petroleum and ensuring national energy security. In order to meet the increasing market demand and accompany the national energy goals, NSRP will continue to expand its operating capacity beyond its original design, improving operational flexibility, production efficiency and market responsiveness. At the same time, we will continue to cooperate closely with the Government of Vietnam, ministries, branches, local authorities, investors and stakeholders in the long-term restructuring and development roadmap to continue promoting operational efficiency”. The “heart” of heavy industry promises to help Thanh Hoa province continue to make strong marks in production, export and budget revenue targets.

Continuing the series of key projects that are creating a strong momentum for the economy, on April 26, 2025, Thanh Hoa officially broke ground on the Commercial Service Area and Cable Car Project of Am Tien Spiritual Tourism Complex and Historical Relic. With a large total investment capital implemented by Sun Group, the project is expected to brighten up the historical land of Trieu Son, opening up new tourism and service spaces, deeply connecting the preservation of cultural heritage with green and sustainable economic development. The project not only contributes to perfecting Thanh Hoa's spiritual tourism ecosystem, effectively connecting with intra-provincial and inter-provincial tourism routes, but also strongly promotes the shift of local economic structure towards modern services and trade. When put into operation, the Am Tien cable car and service area will create more momentum to attract tourists, leading to the development of infrastructure, trade, and ancillary services, while creating thousands of new job opportunities for local workers.

Thanh Hoa is also determined to expand its development space by restarting new driving forces, typically the Nghi Son LNG Thermal Power Plant Project is returning to the competition by 5 major investor consortiums in the world, starting to issue bidding documents from April 8 to June 10, 2025. With a total investment of up to VND 55,069 billion (more than USD 2.2 billion), a designed capacity of 1,500 MW, this project is identified as a key national power source, prioritized for development in the adjusted Power Plan VIII. Organizing a bidding to select international investors for the project not only demonstrates Thanh Hoa's strong attraction to strategic capital flows, but also shows its determination to take the lead in the trend of clean and sustainable energy. When put into operation, Nghi Son LNG Thermal Power Plant will not only ensure energy security for Thanh Hoa and the North Central region, but also create strong momentum for industrial and logistics development, attracting high-tech investors - indispensable pieces in the journey to conquer new growth heights.

Completed projects, newly launched projects and mega projects on the journey of regeneration, all are forming a vibrant symphony of development across Thanh Hoa. From traditional energy to green energy, from vibrant coastal cities to spiritual and cultural regions, Thanh Hoa is focusing all its efforts and accelerating strongly to realize its aspirations of breakthroughs and conquer new growth peaks in 2025 and beyond!

PV Group

Source: https://baothanhhoa.vn/but-toc-cung-du-an-trong-diem-thanh-hoa-tren-duong-lon-bai-cuoi-quyet-tam-tao-da-but-pha-247615.htm