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| The Cua Hoi Bridge, spanning the Lam River, contributes to the socio -economic development of the South Nghe An - North Ha Tinh region. (Source: Nhan Dan Newspaper) |
Besides Quang Tri, the North Central region also includes five other provinces: Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, and Thua Thien Hue. Transportation between these provinces and Hanoi has improved thanks to the main arterial road.
According to government data, average monthly income in North Central Vietnam is approximately 30% to 40% lower than in the areas surrounding Hanoi or Ho Chi Minh City. This lower income level indicates potential for growth in the region. The textile industry has long driven development in the South, while the North has seen growth thanks to investment from South Korean companies since the 2010s.
In 2023, foreign investment in the North Central region reached approximately US$2 billion, a 39% increase compared to the same period in 2022. Nghe An province was a "magnet" attracting a record amount of investment – US$1.6 billion. Foxconn, a major partner of Apple, attracted attention with its plan to open a new factory in Nghe An in November 2024.
Foxconn's decision prompted other businesses in Apple's supply chain to follow suit. Radiant Opto-Electronics (headquartered in Taiwan, China) also plans to establish a factory in Nghe An.
Developments in northern and central Vietnam could impact the government's plans for the North-South high-speed railway project connecting Hanoi and Ho Chi Minh City, which aims for completion by 2045.
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