On January 14, Deputy Prime Minister Tran Hong Ha signed Prime Ministerial Decision No. 88/QD-TTg, dated January 14, 2025,  approving the Ninh Co Economic Zone in northern Nam Dinh province.

The Government News quoted the decision as reporting that the economic zone encompasses a total area of 13,950 ha, and situated in Nam Dinh's southern districts of Nghia Hung and Hai Hau.

The objective of the Ninh Co Economic Zone is to develop into a comprehensive, multi-sectoral, and multi-functional coastal economic zone. It aims to become a key breakthrough development area for the locality with synchronized infrastructure and a favorable investment and business environment.

The zone aspires to be a marine economic center with complementary and reciprocal functions with other coastal economic zones, creating momentum for the Red River Delta region and the Gulf of Tonkin economic belt.

The project will be implemented in three phases. In phase I (2024 - 2026), the focus will be on completing construction and investment planning. Phase II (2026 - 2030) will see the continued development of synchronized infrastructure, particularly in urban, industrial, and service sectors. Finally, Phase III (post-2030) aims to complete the modern economic and social infrastructure system.