The impetus from the three 'pillars' of industry

Amidst a slow global economic recovery and volatile export markets, Thai Nguyen's industrial sector continues to maintain positive growth momentum in 2025. (Image caption: Industrial parks in the province continue to attract numerous domestic and foreign investors. Photo: Provided)

FDI - A pillar driving growth.

Over the years, the foreign direct investment (FDI) sector has consistently played a leading role in driving industrial growth in Thai Nguyen province. Currently, there are 191 active FDI projects in the province, with a total registered capital of over US$11.1 billion.

FDI enterprises make a significant contribution to industrial production value and export turnover, while creating stable jobs for hundreds of thousands of workers, thereby promoting the shift in economic structure towards modernization.

Notably, even when the global market faced difficulties, many FDI enterprises in Thai Nguyen maintained stable orders and even proactively expanded their production scale. The fact that large corporations chose Thai Nguyen as a long-term production location reflects investors' confidence in the province's investment environment, socio-political stability, and industrial infrastructure quality. Besides production efficiency, the FDI sector also creates a significant spillover effect in terms of technology, management methods, and labor standards.

By the end of 2025, the province's industrial production value is estimated to reach over 1 trillion VND, an increase of nearly 6.4% compared to the previous year. The recovery trend was evident from the third quarter, when key industries such as electronics, garments, and machinery recorded a resurgence in orders.

Exports continued to be a bright spot, with estimated turnover reaching nearly 30 billion USD, an increase of 9.15%. Of this, the FDI sector contributed approximately 97% of total export turnover and accounted for nearly 92% of industrial production value, affirming the leading role of foreign investment in the province's industrial structure.

Foreign direct investment (FDI) business sector

The foreign direct investment (FDI) sector continues to play a leading role in driving industrial growth in the province. (In the photo: Production of medical devices for export at Mani Hanoi Co., Ltd.)

Assessing growth prospects, Mr. Wu Zou Jiang, Director of DBG Technology Vietnam Co., Ltd., said: "In 2025, the number of orders and output of the company are expected to triple compared to the previous year. With the current growth rate, the business expects to continue to make breakthroughs in the coming time."

Sharing the same view, Mr. Kaoru Ogane, General Director of Mani Hanoi Company, said: "This year, we continue to expand production, aiming for a 5% increase in revenue and profit, and a 10% increase in output. At the end of 11 months, all growth targets have been met and exceeded. According to the company's assessment, Thai Nguyen is a favorable investment location thanks to its geographical location, synchronized infrastructure, and streamlined administrative procedures..."

Private enterprises proactively adapt.

Alongside the FDI sector, the private sector is gradually asserting its role as one of the important drivers of industrial growth in Thai Nguyen. While previously private enterprises mainly participated in a satellite role, in recent years, especially in 2025, this sector has undergone a significant transformation.

Immediately after the floods in early October 2025, many businesses in the province made efforts to overcome the consequences and urgently restore and stabilize production.

In sectors such as textiles, machinery, and building materials manufacturing, many private enterprises have boldly invested in modern production lines, proactively innovated technology, and improved product quality, thereby meeting the requirements of demanding markets and gradually participating more deeply in the value chain.

It is noteworthy that the spirit of self-reliance and self-improvement of the private sector is increasingly evident. Faced with increasing competition and fluctuating input costs, businesses are proactively restructuring their operations, reducing costs, and improving management efficiency. This dynamism helps the private sector maintain stable production, create more jobs, and make a positive contribution to the state budget.

A prime example is TNG Investment and Trading Joint Stock Company, a leading garment manufacturer in the country. In 2025, TNG is expected to achieve revenue of VND 8,500 billion, exceeding the plan by 5% and increasing by 11% compared to the previous year, while also setting an all-time high revenue target.

In 2025, TNG Investment and Trading Joint Stock Company expects to achieve revenue of VND 8,500 billion, exceeding the plan by 5% and increasing by 11% compared to 2024; setting an all-time high revenue target.

According to Mr. Nguyen Van Thoi, Chairman of the Board of Directors of TNG Investment and Trading Joint Stock Company, the company's orders have increased significantly this year. Currently, the company has signed orders until the end of the first quarter of 2026 and is continuing negotiations for subsequent orders. Looking ahead to 2026, TNG aims for a growth rate of 15 to 20%, considering this a feasible target.

In the three-pillar framework of industrial production, the state-owned economic sector continues to play a key role in stabilizing and driving growth. Not only does it directly participate in production in several key sectors, but it also plays a constructive role through infrastructure investment, macroeconomic regulation, and development orientation.

Over the years, Thai Nguyen province has focused its resources on investing in a comprehensive system of transportation infrastructure, industrial zones and clusters, and logistics, thereby creating a solid foundation for attracting investment and developing production. Industrial zones are meticulously planned, with gradually improving technical and social infrastructure to meet the increasingly high demands of investors...

State-owned enterprises play an important role.

Furthermore, state-owned enterprises and enterprises with state capital play a crucial role in essential sectors such as energy, infrastructure, and public services, contributing to ensuring the smooth functioning of the economy. During difficult periods, this sector continues to play a "supportive" role, helping to stabilize production, employment, and social welfare.

In 2025, Quan Trieu Cement Joint Stock Company is expected to achieve a production and sales volume of nearly 700,000 tons of various products, with after-tax profits exceeding 9.5 billion VND.

A prime example is Quan Trieu Cement Joint Stock Company. In 2025, the company achieved a production and consumption volume of nearly 700,000 tons of various products. Although production only increased by about 5%, profits doubled compared to the previous year, thanks to a rational product restructuring and effective control of production costs. Mr. Nguyen Anh Tuan, Deputy Director of Quan Trieu Cement Joint Stock Company, said that the company is boosting sales in Thai Nguyen and neighboring provinces, while adjusting its product structure to reduce clinker and increase cement. Currently, the factory maintains continuous production in three shifts, with a consumption volume of over 3,000 tons per day to meet market demand during the year-end period.

Looking back on a challenging year, Thai Nguyen's industrial growth is the result of a combination of three pillars, each playing a distinct yet closely interconnected role. The FDI sector plays a leading and spillover role; the private sector is dynamic and flexible; and the state-owned economic sector provides stability, direction, and foundational development. This "three-legged stool" structure helps Thai Nguyen maintain its growth momentum while creating a foundation for sustainable long-term industrial development...

With a focus on selective investment attraction, the development of green and high-tech industries, and the genuine support of the government, Thai Nguyen is gradually asserting its position as a bright spot for industry in the northern midland and mountainous region, ready to make breakthroughs in the new development phase.

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