Prime Minister Nguyen Xuan Phuc on Saturday signed Decision 36/2017/QĐ-TTg on the establishment of Thai Binh Economic Zone in the northern province of Thai Binh.
Under the decision, Thai Binh Economic Zone is a coastal economic zone consisting of 30 communes and one town in Thai Thuy, Tien Hai district and its adjacent coastal area.
Located on a 30,583ha natural site, the economic zone includes functional areas such as Thai Binh power centre, industrial zones, port and port services, resort and entertainment complexes, the distribution area of aquaculture and coastal protection forests, residential areas, urban areas and an administrative hub.
The main development objective of Thai Binh Economic Zone is to maximize the advantages of natural conditions and location in connecting labour, goods and services with neighboring areas, narrowing the gap between the province and other parts of the country.
In addition, the zone is designed to closely combine investment attraction and economic development with the maintenance of national defense and security, preserving and promoting the values of the marine eco-systems, historical and cultural relics in the region.
According to the plan, Thai Binh economic zone is targeted to become a synthetic and multi-sector economic area. It prioritises the development of industries that can take advantages of the region’s potential for natural gas and raw materials sources, linking developed economic zones and industrial parks in the Red River delta.
The project will combine the development of agriculture and aquaculture in areas owning high quality of land and abundant aquatic resources.
Moreover, the establishment of the economic zone also promotes urban development, services and tourism, which are suitable to the potential and needs of the region. It is a promising opportunity for creating jobs and raising income for the labour force.
The construction will be divided into three phases and scheduled to be completed by 2030.