New drivers for industrial growth

As the growth potential from traditional drivers gradually narrows, Thanh Hoa province is actively promoting the development of new industrial projects as an essential direction to maintain industrial growth and create a foundation for future development.

A section of Project No. 1, Duc Giang Nghi Son Chemical Complex in the Nghi Son Economic Zone, is under rapid construction. Photo: Tung Lam

At the construction site of Project No. 1, the Duc Giang Nghi Son Chemical Complex in the Nghi Son Economic Zone (NESEZ), construction is proceeding at a rapid pace in the final days of the year. Hundreds of workers and engineers are focusing on completing factory buildings and installing machinery and equipment. The project, which commenced in February 2025, has a total investment of VND 2,400 billion and a designed capacity of 151,000 tons of chemicals per year. To date, approximately 95% of the basic construction is complete, and the project is entering the equipment installation phase, ready for trial operation in 2026. The investor is also simultaneously preparing personnel, training the operating team, and inviting technical experts, in preparation for both trial and official operation phases.

Mr. Ho Manh Linh, Deputy Director of Duc Giang Nghi Son Chemical Company Limited, shared: "The timely support and assistance from the local government, especially in land clearance, completion of investment procedures, and ensuring technical infrastructure, is a key factor in helping the project maintain its progress. The company is launching a 100-day intensive plan to complete the installation of machinery, and is also organizing construction throughout holidays and Tet (Lunar New Year), with the goal of completing the project in the first quarter of 2026 so that the plant can begin trial operation in the second quarter of 2026."

Also in the Nghi Son Economic Zone, many other industrial projects are being accelerated by investors, such as: Line 4, Nghi Son Steel Rolling Mill No. 2, Billion Union Vietnam Textile Factory... Along with that, industrial park infrastructure projects such as Dong Vang Industrial Park, Industrial Park No. 3, and WHA Smart Technology Industrial Park - Thanh Hoa are also being actively implemented, gradually creating clean land, ready to welcome a new wave of investment.

According to the Management Board of the Nghi Son Economic Zone and Industrial Parks, in 2025, the board advised on attracting 17 new investment projects, including 3 foreign direct investment projects; and adjusted capital increases for 19 projects, with a total additional capital of nearly 6,000 billion VND and over 100 million USD. To date, the Nghi Son Economic Zone and Industrial Parks have attracted 733 projects, with a total registered capital of nearly 198,000 billion VND, continuing to affirm its role as the "locomotive" of industrial development in the province.

"Along with attracting investment, the Board focuses heavily on administrative reform, considering it one of the key solutions to create a transparent and open investment environment. To date, 100% of administrative procedures under the Board's authority have had their processing time reduced according to regulations, and online public services have been promoted, helping businesses save time and costs during project implementation. In addition, land clearance and investment in transportation, electricity, and water infrastructure in the economic zone and industrial parks are identified as 'key points' to ensure projects start operating soon and create new industrial products," said Tran Chi Thanh, Deputy Head of the Management Board of the Economic Zone and Industrial Parks.

According to the Department of Industry and Trade, in 2025, despite the impact of global inflation, increased trade competition, and fluctuations in tariff policies in some major markets, the province's industrial production activities will continue to maintain high growth, remaining the main driving force for GRDP growth and budget revenue. The contributions of new factories, such as: Line 3 of Nghi Son No. 2 Steel Rolling Mill, Nam Ich Thai Thang Textile Factory, Van Ha Export Footwear Factory, Trieu Son Electric Cable Factory, Dai Dung High-Tech Mechanical Factory, Radial Tire Factory, Kim Dung Shoe Factory... have contributed to increased output, creating new growth potential for the entire industry.

According to Ms. Luu Thi Nga, Head of the Industrial Management Department of the Department of Industry and Trade, "In 2025, most of the province's key industrial products recorded significant growth compared to the same period. Specifically, cement increased by 19.2%, gasoline by 5.9%, diesel by 4.8%, and commercial electricity by 13.3%; only 2 out of 19 key products decreased due to market factors and production adjustments. Notably, the processing and manufacturing industry continues to play a central role, with its added value accounting for 28.7% of GRDP, accurately reflecting the province's industrial restructuring orientation."

According to Ms. Nga, in the context of traditional "leading industries" such as oil refining, cement, and power generation gradually reaching their maximum capacity, the formation of new industrial projects in the Nghi Son Economic Zone, industrial parks, and industrial clusters in the province is determined to play a decisive role in maintaining growth momentum, diversifying product structure, and improving the quality of industrial development. By 2026, Thanh Hoa aims for a 14% increase in the Industrial Production Index (IIP); the proportion of value added from the processing and manufacturing industry in the GRDP will reach 29.8%. Along with the growth of key industries such as oil refining, steel, construction materials, power generation, textiles, and footwear, the development of the Nghi Son Economic Zone and satellite industrial parks, especially with many large projects expected to be completed and operational in 2026, will create new impetus for the province's industrial sector. Notably, by 2026, nearly 20 industrial clusters are expected to be operational, ready to attract foreign direct investment projects in high-tech sectors, focusing on high value-added products.

Tung Lam

Source: https://baothanhhoa.vn/dong-luc-moi-cho-tang-truong-cong-nghiep-273220.htm