Vung Ang Economic Zone becomes a driving force for growth

"Destination" of large-scale projects

The groundbreaking ceremony of the Vinhomes Vung Ang Industrial Park Infrastructure Investment and Business Project of Vingroup Corporation on August 19 marked a new step in attracting investment to Vung Ang Economic Zone in the period of 2021-2025. The project has a scale of nearly 1,000 hectares, with a total investment of more than 13,000 billion VND. Once completed, it is expected to create momentum to attract many production and business projects to Vung Ang Economic Zone.

Provincial Party Secretary Nguyen Duy Lam, Provincial People's Committee Chairman Vo Trong Hai and delegates performed the groundbreaking ceremony for the Vinhomes Vung Ang Industrial Park Infrastructure Investment, Construction and Business Project.

Not only the Vinhomes Industrial Park infrastructure project, in recent years, Vung Ang Economic Zone has recorded a breakthrough when it was chosen by Vingroup Corporation as the "destination" of major projects: VinES Battery Factory Project started construction at the end of 2021, put into operation from July 2023; VinES-Gotion Lithium Battery Joint Venture Factory Project started construction at the end of December 2022, put into operation in early 2025; VinFast Electric Car Factory Project started construction at the end of 2024, inaugurated phase 1 in June 2025.

At the groundbreaking ceremony of the Vinhomes Vung Ang Industrial Park infrastructure project, Chairman of the Provincial People's Committee Vo Trong Hai emphasized: "Vung Ang Economic Zone has a strategic location, connecting the North - Central - South and the East - West economic corridor. Over the past decade, metallurgical, thermal power, and mechanical engineering industrial complexes have been formed here, becoming the growth engine of Ha Tinh and making an important contribution to the national economy. Vingroup's continued investment in the Vinhomes Vung Ang Industrial Park infrastructure project after the success of automobile and electric vehicle battery manufacturing projects demonstrates the strategic vision of the enterprise and its confidence in the Ha Tinh investment environment."

Deputy Prime Minister Nguyen Chi Dung, provincial leaders and delegates visited the production line of VinFast Electric Car Factory.

Along with the investment of Vingroup Corporation, in the period of 2021 - 2025, Vung Ang Economic Zone also made a change with major projects approved for investment, construction and operation such as: Vung Ang II Thermal Power Plant, Viet Hai High-tech Precast Concrete Components Factory; Asphalt Hot Asphalt Concrete Production Plant Complex and Bach'chambard Ha Tinh Asphalt Emulsion Production Plant; New Urban Area Project in Ky Trinh Ward (old); General Petroleum Depot of Giang Nam Petroleum Company Limited...

Mr. Hoang Trong Binh - Deputy General Director of Vung Ang II Thermal Power Company Limited said: After a period of construction, Unit 1 of Vung Ang II Thermal Power Plant has officially operated and connected to the national grid since July 22, 2025 with a capacity of 665 MW. The company is continuing to speed up the progress to put Unit 2 into operation in the fourth quarter of 2025.

Unit 1 of Vung Ang II Thermal Power Plant will operate from July 22, 2025.

According to statistics, in the period of 2021 - 2025, Vung Ang Economic Zone attracted a total registered investment capital of nearly 4.2 billion USD, 8 times higher than the total newly registered investment capital of the period of 2016 - 2020. During this period, Vung Ang Economic Zone contributed about 25% of GRDP growth, more than 95% of import-export turnover, 60% of total budget revenue, creating jobs for more than 20,000 workers; some key industrial products such as steel contributed 18% of the country's output, electricity contributed more than 3% of the country's output.

Turning Vung Ang Economic Zone into a growth engine center

The results of attracting large-scale projects with modern technology are not only a lever for local economic development but also a concrete and effective step in the implementation of Resolution No. 09-NQ/TU with the goal of: Building Vung Ang Economic Zone with pillars of metallurgy, energy, processing and manufacturing industries; logistics center and seaport services; developing trade and services, creating a solid foundation.

In order to promote the role of the province's driving force, Resolution No. 09-NQ/TU dated November 22, 2021 of the Provincial Party Committee "on the development of Vung Ang Economic Zone for the period 2021-2025, with a vision to 2030" is a correct and timely policy to focus the entire political system, mobilize all resources, and unleash the potential for the development of Vung Ang Economic Zone.

Provincial Party Secretary Nguyen Duy Lam and the working delegation inspected production at Vines Battery Factory (March 2025).

To concretize the resolution, the Standing Committee and the Provincial Party Committee have issued many notices of conclusions and opinions on the implementation of related tasks in Vung Ang Economic Zone; the Provincial People's Committee has issued Action Program No. 174/CTr-UBND dated May 16, 2023 on implementing the resolution. The Provincial People's Council has issued Resolution No. 34/NQ-HDND dated November 6, 2021 on relocation and resettlement of households in Hai Phong 1 and Hai Phong 2 villages, Ky Loi commune, Ky Anh town (old); Resolution No. 55/NQ-HDND dated December 16, 2021 on the Project on compensation, support, resettlement, site clearance to create land fund to attract investment in Vung Ang Economic Zone...

According to Head of the Provincial Economic Zone Management Board Tran Viet Ha, after nearly 4 years of implementing Resolution No. 09-NQ/TU, with the close direction of the Provincial Party Committee, People's Council, Provincial People's Committee, the drastic and synchronous participation of departments, branches and localities, Vung Ang Economic Zone has been increasingly operating effectively, going into depth, attracting and implementing many large-scale investment projects with high spillover effects, promoting the socio-economic development of the province. This clearly demonstrates the innovation in thinking and drastic actions of Ha Tinh in attracting investment in strategic and key industrial projects of national and regional significance; expanding new growth drivers as set out in the spirit of the Resolution of the 19th Provincial Party Congress.

Vung Ang Economic Zone is increasingly affirming its role as the growth engine center of the province.

The goal set for the 2026-2030 period is to attract new registered investment capital into Vung Ang Economic Zone to reach 4-7 billion USD; the growth rate of industrial and service production value to reach 15-20%/year; total budget revenue for the whole period to reach 100-120 trillion VND; goods passing through the port to reach over 60 million tons/year; total export turnover of goods for the whole period to reach 12-14 billion USD; creating jobs for over 30,000 workers.

To realize the goal of turning Vung Ang Economic Zone into a multifunctional economic zone, a dynamic industrial and logistics center of the province, in the coming term, with the leadership and direction of the provincial leaders, the Provincial Economic Zone Management Board will continue to advise on maximizing and effectively using resources to develop Vung Ang Economic Zone; speed up the progress associated with the quality and efficiency of the project to expand Vung Ang Economic Zone; promote investment promotion activities, improve the quality and efficiency of attracting investment capital into the economic zone, prioritize projects in line with the planning and development orientation of the province, creating a strong spillover effect...

Source: https://baohatinh.vn/kkt-vung-ang-thanh-trung-tam-dong-luc-tang-truong-post295568.html