Creating a driving force to attract investment, in recent years, the province has done a good job of planning and establishing industrial parks with synchronous and modern infrastructure. In the photo: Samsung Electronics Vietnam - Thai Nguyen Co., Ltd. at Yen Binh Industrial Park (Pho Yen City).

Attract FDI capital

Promoting the historical tradition as the "cradle" of the country's metallurgical industry, in the new period, Thai Nguyen focuses on attracting foreign direct investment (FDI) projects into industrial production. Accordingly, the province has planned to expand 11 industrial parks (IPs) and 1 concentrated information technology park with an area of ​​1,599 hectares; in which, priority is given to attracting investment projects to develop key industrial sectors and products using advanced technology, high-tech products, deep processing, information technology, electronics and telecommunications, environmentally friendly production, energy saving, industries using renewable energy sources...

In fact, many industrial parks with synchronous, modern infrastructure and convenient transportation systems have been established, opening up great opportunities to attract FDI projects. For example, the presence of Yen Binh Industrial Park in Pho Yen City has quickly attracted Samsung Group (Korea) to invest in implementing the Group's second largest smartphone factory project in the world. Samsung's arrival in Thai Nguyen also created attraction, attracting dozens of suppliers and supporting investors along the value chain from Korea, creating an unprecedented FDI capital flow.

Along with developing industrial parks and clusters to attract investment, in recent years, the province has been determined to improve the investment and business environment. Notably, the province has strengthened its leadership and direction for departments, branches and sectors in promoting administrative procedure reform (AP). Accordingly, in 3 years (2021-2023), the Chairman of the Provincial People's Committee has issued a decision approving a proposal to simplify 139 APs in many fields. In particular, many APs are related to business and investment activities of enterprises.

In addition to administrative reform, the province is focusing on training high-quality human resources to meet the needs of industries attracting investment in the semiconductor and electronics industry. For example, in 2024, the University of Industrial Technology opened its first full-time training class for students in the electronics, semiconductor and microchip industry with 49 students.

Mr. Shin Ho Jin, Finance Director of Young Jin Hi Tech Vietnam Co., Ltd. (Diem Thuy Industrial Park): “During the project implementation process, we have received support and facilitation from the local government, especially in granting investment certificates and land use right certificates. Along with that, Thai Nguyen has the advantage of abundant and high-quality human resources, which is the condition for us to choose to invest in Thai Nguyen”.

"Sweet fruit" in attracting investment

With the above breakthrough solutions, in recent years, the province's investment attraction results have improved significantly. In 2024 alone, the province issued investment policy decisions and approved investors for 18 non-budget projects using domestic capital, with a total capital of over VND 3,210 billion; issued decisions approving investors for 24 projects with a total capital of nearly VND 18,600 billion; and issued investment registration certificates for 12 projects with a total capital of over VND 5,000 billion.

To improve competitiveness and attract investment, the province has recently directed departments, branches and sectors to promote administrative procedure reform. In the photo: People take a number to carry out administrative procedures at the Public Administration Service Center.

Foreign investors from countries and territories such as China, Hong Kong, Korea, Japan, etc. have made important contributions to the economic development of the province, creating many jobs and promoting the transfer of advanced technology, helping Thai Nguyen become one of the leading localities attracting foreign investment in Vietnam.

In the coming time, according to experts, Thai Nguyen has a huge potential to attract investment. Because the province has a solid foundation when many large corporations such as Samsung have chosen it as the place to build important production facilities, contributing to creating more trust with many other investors and facilitating the formation of linkage chains in the area.

Along with that, the industrial land fund is expanding due to many infrastructure projects for industrial park development being actively implemented by investors. Such as: The project to invest in construction and business of infrastructure of Song Cong II Industrial Park - Phase 2 (scale of 296.24ha) has just been started by Viglacera Corporation - JSC in March 2024. In addition, Thai Nguyen currently has 27/41 industrial clusters with infrastructure investors, under construction with a total registered capital of nearly 11,000 billion VND...

In particular, the dynamism and determination in management and operation of the provincial government; the companionship and creation of favorable conditions for investors and businesses to operate; the reform of administrative procedures always receives special attention; investment promotion activities have many innovations, promoted both domestically and internationally... have and will help Thai Nguyen "score points" in the eyes of investors.