Thai Binh seeks Belgian investment, partnerships

At a conference promoting Thai Binh province's trade and investment climate in Brussels on May 23. (Photo: VNA)

Brussels - A conference promoting the trade and investment climate of the northern province of Thai Binh, one of Vietnam's major hubs for ago-fishery exports, took place at the Vietnamese Embassy in Brussels, Belgium, on May 23.

Speaking at the event, Vietnamese Ambassador Nguyen Van Thao, who is also the head of the Vietnamese delegation to the European Union (EU), talked about significant opportunities for Thai Binh to collaborate with Belgian partners in green energy – one of the province’s priority areas for investment attraction.

He noted that in December 2022, Vietnam became the third country in the world to endorse the Just Energy Transition Partnership (JETP) with G7 countries and the EU, Denmark, and Norway.

Permanent Vice Chairman of the provincial People's Council Dang Thanh Giang said that last year the province achieved an annual GDP growth rate of 7.37 per cent, attracting over 3 billion USD in foreign investment and posting 2.6 billion USD in export turnover.

The leader affirmed that Thai Binh looks for comprehensive and multisectoral cooperation with Belgian partners, highlighting trade, high-tech agriculture, new energy, renewable energy, climate change response, services, logistics, manufacturing industries, education, human resources, healthcare, and cultural exchange.

Chairman of the provincial People's Council Nguyen Tien Thanh pledged to accompany and create the most favourable conditions for the investment and operation of foreign investors, including those from Belgium, in the locality.

Secretary-General of the Belgian Vietnamese Alliance (BVA) Duong Minh Tri stated that the BVA is ready to act as a bridge connecting Belgian enterprises with their partners in Thai Binh for the development of effective investment projects conducive to the local economic growth.

At the conference, businessmen of both sides exchanged information about their potential and cooperation needs, sought partnerships, and shared experiences for operating in the two markets.

Talking to the Vietnam News Agency, Chrysoline Monnier from Hub.Brussels affirmed the Brussels investment and export promotion agency’s commitment to supporting Belgian enterprises in seeking investment and cooperation chances in Thai Binh. A delegation of Belgian enterprises will soon make a business trip to Vietnam to explore the market, with Thai Binh a likely destination.

While in Belgium, Thai Binh leaders also held working sessions with investment and trade agencies from three regions of Brussels, Wallonia, and Flanders.

Thai Binh eyes more foreign investors According to the General Statistics Office, Thai Binh currently ranked fifth nationwide in luring foreign investment, with nearly $3 billion seen in 2023.

Thai Binh to host $2 billion LNG project The Thai Binh liquefied natural gas (LNG) project is located in Thai Binh Economic Zone, and will have a designed capacity of 1500MW. The investment consortium behind the project is responsible for nearly $2 billion in funding and consists of Tokyo Gas, Kyuden, and Truong Thanh Vietnam Group.

Thai Binh targeting modern development With an eagle’s eye on the northern province’s potential and advantages, Thai Binh’s official planning strategy aims to boost its development and provide it with a modern economic structure.

Thai Binh's economy attracts Swiss investors Swiss companies are exploring investment and cooperation opportunities in Thai Binh to tap into the northern province's rising economy.

Thai Binh boosts investment, trade cooperation with Germany A delegation from the northern province of Thai Binh, led by Deputy Secretary of the provincial Party Committee Nguyen Khac Than, visited several localities and business organisations in Germany from March 25 to 27, in a bid to enhance trade cooperation with and attract direct investment from the European nation.

Land clearance for $2 billion Thai Binh LNG power plant set for completion in January 2025 Thai Binh authorities are working with the investor to complete site clearance for a $2 billion LNG power plant in the northern province by January 2025.