Lien Ha Thai Industrial Park (GREEN IP-1) - Thai Binh
- Investor: GREEN IP THAI BINH
- Price: 90 USD/m2
- Area: 807.88 Ha
Although listed among Vietnam’s industrial provinces, Thai Binh Province carries a beauty akin to an oasis amidst the North Delta plain. With its strategic geographical location, the province has steadily developed and become an attractive destination for industrial investors.
With a favorable business environment and well-developed infrastructure, Thai Binh attracts diverse industries. From agricultural processing, construction material production, and information technology, to electronics and mechanical manufacturing. Investors and developers have established modern industrial parks, which provide a reliable environment for investment and development.
In addition to a favorable business environment, Thai Binh also enjoys transportation advantages. With its road, rail, and seaport systems, the province facilitates efficient and rapid transportation of goods within and outside the region. This not only reduces transportation time and costs but also provides convenient conditions for import and export activities.
Moreover, Thai Binh boasts an abundant workforce from universities and vocational schools. This provides a competitive advantage for businesses in recruiting and training high-quality employees.
Thai Binh, an industrial province, is an attractive destination with exceptional economic development potential. With a combination of a favorable business environment, well-developed transportation infrastructure, and a plentiful workforce, Thai Binh is becoming a compelling choice for domestic and international industrial investors.
Thai Binh is a coastal province in the Red River Delta, bordered by Hung Yen, Hai Duong, and Hai Phong to the north, Nam Dinh and Ha Nam to the west and southwest, and the Gulf of Tonkin to the east. It covers an area of 1,546.54 square kilometers and includes 8 districts and the city of Thai Binh, with a total of 284 communes, wards, and townships.
Thai Binh is a flat delta province with a slope of less than 1%. The province has a coastline of over 50 kilometers and four major rivers traverse it: the Hoa River to the north and northeast (with a length of 35.3 kilometers), the Luoc River to the northwest and west (a tributary of the Red River, with a length of 53 kilometers), the lower reaches of the Red River to the west and south (with a length of 67 kilometers), and the Tra Ly River flowing from west to east (with a length of 65 kilometers). The province is affected by tides, which result in high water levels and sediment during the summer, while the flow decreases and sediment becomes negligible during the winter. Saltwater intrusion reaches up to 15-20 kilometers inland.
Thai Binh has a humid subtropical climate with hot and humid summers from May to September, and dry and cold winters from November to March. The average temperature is 23.5°C, with 1,600 to 1,800 hours of annual sunshine and an average relative humidity of 85-90%.
Major rivers, which are tributaries of the Red River, intersect Thai Binh, and the province receives abundant rainfall ranging from 1,600 to 1,800mm. It has a dense network of rivers and canals, with a total length of 8,492 kilometers and an average density of 5-6 kilometers per square kilometer. The rivers flow predominantly from northwest to southeast, and the northern and northeastern parts of the province belong to the Thai Binh River basin.
Natural Gas: Thai Binh has been extracting natural gas from the Tien Hai gas field since 1986, with an annual production of several million cubic meters. Reserves are estimated at 7 billion cubic meters.
Mineral Water: The Tien Hai mine, operating since 1992, has a reserve of approximately 12 million cubic meters of mineral water, producing 9.5 million liters annually.
Hot Mineral Water: Hot water sources with temperatures of 57°C and 72°C have been discovered in Khai village. These resources have potential for tourism and therapeutic purposes, with two mineral water companies currently operating in the area.
Coal: Thai Binh has significant reserves of brown coal, estimated at 210 billion tons, which is 20 times larger than Quang Ninh’s reserves. Geological surveys and drilling activities have actively tested underground and pit mining technologies. The Song Hong Oil and Gas Company is exploring coalbed methane at the Tien Hai C-08 well.
Thai Binh’s fertile land is famous for its rice fields, with high yields. The province is actively working on agricultural restructuring and has a diverse range of crops suitable for cultivation.
In 2022, the projected Gross Regional Domestic Product (GRDP) in Thai Binh province (at 2010 constant prices) is expected to exceed the planned 9% growth rate and reach 63,000 billion Vietnamese dong, reflecting a 9.52% increase compared to the same period in 2021.
The Agriculture and Aquaculture sector is expected to contribute 13,486 billion dong, representing a 2.56% increase compared to the previous year and contributing 0.59 percentage points to the overall growth.
The Industrial and Construction sector is projected to reach 26,810 billion dong, indicating a 14.09% increase compared to the same period, and contributing 5.76 percentage points to the growth.
The Service sector is expected to contribute 2.43 percentage points to the overall growth, reaching 18,553 billion dong, which represents an 8.15% increase from the previous year.
Product taxes contribute 0.75 percentage points to the overall growth.
The GRDP growth rate ranks 6th out of 11 provinces in the Red River Delta region and 18th out of 63 provinces nationwide.
In terms of current prices, Thai Binh ranks 8th out of 11 provinces in the Red River Delta and 22nd out of 63 provinces nationwide. The estimated per capita GRDP in 2022 is 58.9 million dong.
The structure of GRDP in Thai Binh province in 2022 (at current prices) is as follows:
– Agriculture and Aquaculture sector: 21.2%
– Industrial and Construction sector: 42.9%
– Service sector: 29.6%
– Product taxes: 6.3%
High rice productivity, good livestock farming activities, increased aquaculture production, and stable consumption markets contributed to a 2.5% growth in the overall production value of this sector.
The industrial production index in 2022 increased by 14.2% compared to 2021, with the following breakdown:
Overall trends in the processing and manufacturing sector indicate that 47.2% of businesses had good production status, 30.8% remained the same, and 22% faced difficulties in the third quarter of 2022.
The production outlook for the first quarter of 2023 is as follows:
The State budget’s total investment capital in 2022 is approximately 7,694 trillion VND, up 48% from the previous period. Provincial-level budget capital is around 3,440 trillion VND, a 19% increase. District-level budget capital is estimated at 2,979 trillion VND, an 84.7% increase. Commune-level budget capital is approximately 1,274 trillion VND, an 83.7% increase.
The government has estimated the total social development investment in 2022 at 55,895 trillion VND, reflecting a 9.5% increase compared to 2021. The State plans to invest 7,695 trillion VND, representing a substantial 48% increase. Residential and private sectors are expected to contribute investments totaling 36,005 trillion VND, reflecting a 10.5% increase. However, foreign investors’ investments in economic zones are projected to decline by 13.9% to around 3,401 trillion VND.
By December 2022, businesses have obtained 1,064 business registration certificates, registering a capital of 9,741 trillion VND. 502 enterprises have registered a temporary suspension of business operations. A total of 103 enterprises had their business registration certificates revoked, including 102 dissolved enterprises and 1 reorganized enterprise.
In 2022, authorities approved 8 new foreign direct investment projects, with a total registered investment capital of 219.82 million USD.
Since the second quarter of 2022, when the pandemic was controlled, the province has witnessed a recovery and significant growth in its trade and service situation. Activities such as accommodation, dining, travel, and passenger transportation have experienced notable growth. Prices of most goods have fluctuated and increased due to the impact of fuel and production material prices. The total retail sales of goods and consumer services in 2022 increased by 19.6% compared to the same period, with exports increasing by 13.5%, imports increasing by 20.1%, passenger transportation increasing by 43.2%, and cargo transportation increasing by 18%.
The total retail sales of goods and consumer services in 2022 reached 59,613 trillion VND, a 19.6% increase from the previous year. Retail sales of goods accounted for 52,397 trillion VND, an 18.4% increase compared to the same period.
Revenue from accommodation, dining, and travel services in 2022 amounted to 3,941 trillion VND, a significant 41.3% increase. Accommodation services contributed 141 trillion VND, marking a 30.3% increase. Dining services generated 3,761 trillion VND, reflecting a 40.4% increase. Travel services witnessed exceptional growth, with revenue reaching 39 billion VND, a remarkable 39-fold increase.
There is an estimated 17.4% increase in revenue from other services in 2022, reaching 3,275 trillion VND.
In December 2022, the Consumer Price Index (CPI) increased by 0.07% compared to the previous month, 5.31% compared to the same month of the previous year, and 5.31% compared to December of the previous year.
Total import and export turnover in 2022 is forecasted to reach US$4,522 billion, up 16.5% over the same period last year (exports up 13.5%, imports up 20.1%).
Exports:
The estimated export turnover in 2022 is $2.427 billion, indicating a 13.5% increase compared to the previous year. The private sector is expected to achieve exports of $1.468 billion, reflecting a 25.1% increase. Meanwhile, exports in the foreign-invested sector are projected to decrease by 0.5% and reach $959 million.
Imports:
In 2022, import turnover is estimated to reach $2.095 billion, up 20.1% from the previous year. Private sector imports are expected to reach $1.511 billion, a significant increase of 48.3%. The main reason for the increase is the higher import of petroleum, which has grown by 38% and achieved a high growth rate of 81.3%. The foreign-invested sector is expected to decrease its imports by 19.5% compared to the previous year, importing approximately $584 million. This decline is primarily due to a sharp drop in imports of iron and steel scrap, which decreased by 57.4%.
Transportation, postal, and delivery activities in the province in 2022 met needs, experiencing high growth. Fuel price fluctuations impacted production and business, especially in transportation, postal, and delivery sectors. Estimated 2022 revenue from transportation activities: 7.229 trillion dong, up 24.8% compared to previous year.
The estimated total state budget revenue for 2022 is 27.903 trillion dong, surpassing the estimate and experiencing a 26.7% increase compared to the previous year. The government projects domestic revenue to reach 12.469 trillion dong, indicating an 18.4% increase, and estimates revenue from import-export taxes at 3.000 trillion dong, reflecting a significant 58.7% increase.
The local budget is projected to spend an estimated total of 23.078 trillion dong in 2022, surpassing the estimate and demonstrating a 27% increase compared to the same period.
The average population in Thai Binh province in 2022 was 1,878.5 thousand people. The labor force aged 15 and above was 1,141.6 thousand people, with 1,129 thousand people employed in the economy. The labor structure is as follows: 27% in agriculture, 46.03% in industrial and construction sectors, and 26.97% in the service sector. The estimated average per capita income in 2022 is 56.4 million Vietnamese dong.
The Education and Training sector successfully completed tasks for the 2021-2022 academic year and is actively implementing tasks for 2022-2023. As of May 31, 2022, there were 742 educational facilities in the province, serving preschool, primary, and continuing education. These facilities comprised of 12,362 classes and accommodated a total of 416,914 students. In the high school graduation examination of 2022, the province achieved a graduation rate of 99.7%. It ranked 10th nationwide in terms of average scores across subjects (6.62) and had 173 candidates scoring a perfect 10.
The effective implementation of the 2018 General Education Program continues, with successful implementation of the 2018 General Education Program for Grade 1, Grade 2, and Grade 6. Completed are the compilation and experimental teaching of local materials for Grade 3, Grade 7, and Grade 10. Investors have invested in the construction of infrastructure and equipment for schools, resulting in 685 out of 732 schools (93.5%) meeting national standards.
Cultural, informational, press, and literary-artistic activities have focused on promoting major holidays, political tasks, and COVID-19 prevention and control. The province organized significant ceremonies to commemorate the 4th visit of President Ho Chi Minh to Thai Binh after 60 years, the 5th visit after 55 years, and received recognition of Keo Pagoda as a national treasure.
Mass physical and sports activities, as well as high-achieving sports, have been actively promoted. The organizers successfully held the 9th Provincial Sports Festival, and the participants showed commendable performance at the National Sports Festival.
Overall, the cultural and social situation in 2022 in the province showed many bright spots. The education sector accomplished remarkable achievements, and cultural and sports activities resumed vibrantly after the pandemic’s impact. People experienced improvements in their labor situation and income, while ensuring social security and safety with controlled damage.
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