Highlights of Thai Binh economic zone planning put Tien Hai real estate “breakthrough”

Benefiting directly from the planning of Thai Binh and Tien Hai economic zones with the orientation of developing into industrial and tourism centers of Thai Binh continues to be a hotspot to attract the interest of many investors…

As an important strategic area of political – economic – security and defense of the Northern Coast, Tien Hai (Thai Binh) now has more favorable conditions to become the center of industry and marine economy of the Pacific economic zone.

THAI BINH ECONOMIC ZONE: KEY PROJECTS OF THE REGION

On May 8, during a working trip in Thai Binh, Prime Minister Pham Minh Chinh said that the Central Government is very interested in the development of Thai Binh economic zone. According to the Prime Minister, to date, the new Thai Binh economic zone is mainly deployed on the mainland, in the coming time, it is necessary to develop towards the exploitation of marine space.

This orientation is based on the planning of the Thai Binh economic zone spread out in Tien Hai and Thai Thuy districts with an area of over 30,000 ha and a coastline of more than 50km. This is an area with diverse marine ecosystems, possessing a great advantage base to develop into a multi-sectoral and multi-sectoral marine economic center of the North Coast and the whole country.

Accepting the guidance, Ngo Dong Hai – Thai Binh Secretary said that the province is determined to adopt a coastal route through the province with a budget of more than VND 3,000 billion in May 2023 and affirmed its high determination in the development of the Thai Binh economic zone.

Welcoming the Olympics from the potential for marine economic development, the Pacific economic zone in particular and the Pacific province in general became the focus of many investment flows. In 2021 alone, the province attracted $500 million in investment capital, equal to the total of 5 years from 2015 to 2020 combined, maintaining its position as a leader in the country in terms of attracting FDI inflows in the past two years.

In general, in 2021, Pacific’s Gross Domestic Product (GRDP) increased 6.68%, Q1/2022 increased 7.44%. In the first 4 months of the year, the value of industrial production increased by nearly 17%; the disbursement rate of public investment reached 35% of the plan, which is in the top of the country.

VNRea Deputy Secretary General stressed that, “The rapid investment speed, especially the attractiveness of large enterprises in terms of investment, will create a vibrant growth surplus for Thai Binh real estate in general and Tien Hai in particular.”

TIEN HAI REAL ESTATE AND BREAKTHROUGH PROSPECTS

Benefiting directly from the planning of Thai Binh economic zone, Tien Hai with the orientation of developing into an industrial and tourism center of Thai Binh continues to be a hotspot to attract the interest of many investors.

Up to this time, Tien Hai Industrial Park is the largest active industrial park in Thai Binh province. In particular, many large companies and corporations such as Red River Oil and Gas, Viglacera, Vina Kangaroo, Toyoda Gosei… have invested in Tien Hai Industrial Park.

This is the money to create huge prospects for the development of real estate adjacent to the industrial park. Accordingly, fast-track investors soon came to Tien Hai to welcome the growing demand for housing and utilities to serve the large workforce working in the area.

For the purpose of profitable investment, investors can combine business services, trade and professionals, workers working in the industrial park for long-term lease. In addition, the land plots near the industrial park are also an asset for the future, a stable profit channel and there is still a lot of upside potential.

As evidenced, land prices in Tien Hai are growing at an average rate of 25-30% per year but at a fairly low level compared to industrialized provinces such as Bac Ninh, Bac Giang, Thai Nguyen and Vinh Phuc.

Despite receiving great demand from investors in the Northern provinces, Tien Hai is also facing an imbalance in supply and demand due to the scarcity of urban projects with good location, adequate legal framework and synchronous infrastructure.

Therefore, along with the long-term development prospects of Thai Binh, the investment in Tien Hai market at this time is considered by investors as a “wise country”, promising to bring superior profit value.

Source: VN Economy