FDI motivation and the ability to "transform" urban appearance

FDI capital flows always tend to shift, looking for potential areas, not only in terms of location, infrastructure but also in terms of investment attraction policies. With a 52km long coastline, 5 large river mouths, creating a tidal flat area of ​​more than 16,000 hectares, Thai Binh possesses many advantages suitable for the trend of industrial development and marine economy.

Over the past years, in order to promote and effectively utilize its advantages, Thai Binh province has actively invested in and developed modern and synchronous infrastructure, increasing connectivity within the province and between regions. In addition, low land prices and cheap labor are also great advantages of Thai Binh in being targeted by FDI "eagles".

On the journey of “cleaning the nest to welcome the eagles”, Thai Binh province is determined to build and improve the investment and business environment, enhance the provincial competitiveness index (PCI), promote investment promotion activities… to be ready to meet the needs of investors. Moreover, the province also applies the best incentive policies for investment projects in the area and commits to accompany investors.

Thanks to that, Thai Binh's FDI attraction results have been positive over the years. The peak was in 2023, when the province officially joined the "billion-dollar club" in attracting FDI capital, ranking 5th in the country, with over 3 billion USD of registered FDI capital in economic zones and industrial parks. The breakthrough increase in FDI capital is an important indicator that the economic growth picture and appearance of Thai Binh will continue to witness a strong "transformation" in the future.

In fact, the ability of FDI capital to lead and drive development has been proven in some leading industrial provinces. For example, in Bac Ninh, from 2010 to now, the increase in FDI capital clearly shows the proportionality with the scale of GRDP of the province, at the same time, it is easy to see the transformation of the urban appearance, followed by a corresponding increase in land prices, from 8 - 10 million VND/m2 in 2010 to 120 - 250 million VND/m2 in 2023.

The growth process thanks to FDI capital flows also took place similarly in Bac Giang. In just 10 years (2013 - 2023), the scale of GRDP of this province increased 5 times (from 36,273 billion VND to 181,800 billion VND), the accumulated FDI also increased 5 times accordingly. Land prices in the central area of ​​Bac Giang also recorded vertical growth when urban space was expanded and "transformed", large real estate projects were formed.

Returning to Thai Binh, it can be affirmed that the existing conditions of this locality are extremely attractive to investors developing urban areas, utilities, and services; contributing to creating a strong driving force for the "transformation" process of the province that was once purely "agricultural" - the rice granary of the North. Typically, recently Daewoo E&C has chosen Thai Binh to invest and develop a new urban area based on the Smart City model at Starlake Urban Area, Tay Ho Tay (Hanoi).

The trend of expanding the city center to the South

Industrialization leads to urbanization. With the current strong industrial economic development momentum and forecast to increase in the future, Thai Binh must inevitably expand urban development space to meet new development needs.

Especially when the core area of ​​Thai Binh city - the political, economic, cultural and social center of the province has become narrow after a period of dynamic development. Considered a province with "narrow land and large population", Thai Binh has a relatively small area, ranked 54/63 provinces and cities. However, in terms of population, Thai Binh ranks 11/63 provinces and cities and has a population density 4 times higher than the national average.

For the past 20 years (2003 - 2023), Thai Binh City has barely expanded, its population has now surpassed 200,000 and is expected to increase as experts and workers follow the FDI wave to move to industrial parks. Pressure on infrastructure and population in the core area will promote the trend of expanding the city's development space and forming new urban centers.

Accordingly, the South of the city is focusing on expansion thanks to its synchronous transport infrastructure. From here, it is possible to quickly connect to the belt road system, link with neighboring trading areas and especially conveniently connect to the marine economic zone of Thai Binh province.

From the city center, following Le Quy Don Street to the South is a planned traffic axis as the backbone for land fund development and expansion of the city center. This area has developed rapidly and formed a bustling residential community, opening up many opportunities for the development of new, modern urban areas in the future.

Notable is the Glory Downtown Thai Binh project, standing out in the new center of the South, the project is invested in a systematic way, from the systematic urban infrastructure planning to the development of multi-functional townhouses. In addition, Glory Downtown owns a harmonious utility system between commercial business and green landscape, bringing a fresh living space and a prosperous future for residents.

It can be said that the proven leadership of the FDI wave along with the planning orientation of Thai Binh City to expand in a synchronous and modern direction will be an important foundation to promote a new investment shift in Thai Binh, leading to the formation of systematic, multi-utility real estate projects, contributing to improving the quality of life of the people.

These are positive signs showing that the real estate wave is pouring into Thai Binh with many growth opportunities, as the "rice granary" grows to become a new industrial and urban center.