Thai Hoa town to welcome the largest investment project ever

( - Viet A Steel Structure and Power Cable Factory Complex Project with a total investment of VND 1,128.35 billion, is currently under the process to submit to the Standing Committee of the Provincial People's Committee for comments.
Thai Hoa town to welcome the largest investment project ever ảnh 1
Nghia My Industrial Cluster in Thai Hoa town. Photo: Thanh Duy

This is the information provided by Thai Hoa town’s leaders at the recent meeting with the provincial delegation headed by Deputy Secretary of the Provincial Party Committee Hoang Nghia Hieu.

The project, which is invested by Viet A Industrial Trade and Investment Group Joint Stock Company, aims to produce steel structures and steel poles for high-voltage electrical and power transmission projects; lighting poles; telecommunications poles; mechanical products of all kinds; non-standard components; production of electrical wires and cables of all kinds... with an output of 10,000 tons per year for electrical cables and 20,000 tons per year for mechanical products, steel structures of all kinds.

If approved by Nghe An province, the project will be implemented in Nghia My Industrial Cluster, Thai Hoa town on an area of about 8.27ha, contributing to increasing the value of export products of Nghe An province, and at the same time providing for infrastructure investment needs and electricity industry for the North Central region in particular and the whole country in general.

When put into operation, Viet A Steel Structure and Power Cable Factory Complex is expected to create stable jobs for about 850 local workers and contribute to the State budget.

The investment project is in line with the objectives and targets of industrial development and construction of Thai Hoa town in the 2020 - 2025 period at the Resolution of the 3rd Party Congress of Thai Hoa town.

It is the largest investment attraction project ever in Thai Hoa town; creating motivation and leverage that is very important in local socio-economic development.

On July 2, 2021, the Standing Committee of Nghe An Provincial Party Committee issued Resolution No. 02-NQ/TU "On the construction and development of Thai Hoa town into a central urban area in the Northwest of Nghe An", which defines the goal of striving to develop Thai Hoa to become a class III urban area by 2025 and a provincial city by 2030.

The year 2022 witnessed a strong breakthrough in investment attraction into Thai Hoa town with 7 investment projects, with a total capital of VND 1,828 billion; of which, 6 out of 7 projects have been approved in terms of investment policy by the Provincial People's Committee (1 project is only waiting for a construction permit; 4 projects are implementing site clearance compensation and 1 project is making construction planning dossiers).

In order to obtain the above results, Thai Hoa town has effectively directed the reform of working methods in the content of commenting on investment policies for projects in the town to ensure quickness and strictness in accordance with the provisions of law; limiting the addition of documents, saving time and effort for investors; shortening the time to apply for investment policies to an average of 1.5 months.

The town also directly supports investors in preparing investment policy documents and legal procedures as regulated; accompanies investors to keep abreast of work progress, joins investors in explaining relevant contents and documents when requested by provincial departments, sectors and Provincial People's Committee.

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