The two biggest projects, the development of the Ninh Co economic hub and the construction of the Thinh Long sea port, foresee investments of $1 billion each.

Additionally, the project to revive the failing Rang Dong textile industrial park requires a foreign direct investment of $100 million, which would create jobs for 200,000 workers once implemented.

Moreover, investments are needed in the production of spare parts, electronic goods and agricultural machinery, as well as in high-tech aquaculture, automobile assembly, and infrastructure improvement projects in My Thuan, Hong Tien and My Trung industrial parks, and in Thinh Long port.

At present, the province is hoping to conclude negotiations on the Hai Hau thermal power plant project, which foresees an investment of $4.5 billion.

The BOT (build-operate-transfer) power station is estimated to generate $25 billion from selling electricity over 25 years of operation. Construction is scheduled to start next year.

According to the IPBSC, foreign direct investment in Nam Dinh soared in recent years due to the province’s efforts to invest in transport infrastructure; introduce preferential policies on land, tariffs, site clearance, and workforce training; and accelerate reforms of administrative procedures with a view to creating prime conditions for investors.

During the first nine months of 2014, the province licensed nine projects with a total investment capital of $130 million.