Once known as a land of harsh weather, the North Central coastal strip has now become an industrial centre and a driving force for the development of the region. The strong transformation of economic zones and industrial parks has not only created momentum for individual localities but also formed a highly competitive coastal economic belt in the new development phase.
Foundation of key industries
Vung Ang Economic Zone (Ha Tinh) was established in 2026 under a decision of the Prime Minister, covering nearly 22,800 hectares across four wards: Vung Ang, Hoanh Son, Song Tri, and Hai Ninh. It is a multi-sector economic zone, including industry, trade, services, tourism, agriculture, forestry, and fisheries, with a focus on metallurgy, port-related industries, labour-intensive industries, and export-oriented industrial sectors.
Vo Ta Nghia, Deputy Head of the Ha Tinh Economic Zone Authority, said that the Resolution of the 20th Ha Tinh Provincial Party Congress for the 2025–2030 term identifies industry as a pillar, and Vung Ang Economic Zone as a growth driving force, linked to the development of the marine economy, seaports, renewable energy, processing, manufacturing, and logistics. The Ha Tinh provincial plan for the 2021–2030 period, with a vision to 2050, also defines Vung Ang Economic Zone, centred on the Formosa steel complex and the Vung Ang–Son Duong deep-water port cluster, as a major growth centre of the province.
So far, Vung Ang has attracted many enterprises and major economic groups with high potential, investing in key projects such as the Formosa steel complex; complexes for manufacturing automobiles, electric motorbikes, and components; Vingroup’s Vinmetal steel plant with a capacity of five million tonnes per year; LNG storage facilities; Vung Ang I and II thermal power plants; the Vung Ang III LNG power plant; as well as wind and solar power projects.
“With a receptive approach and an open investment policy, business and project operations in the economic zone have become increasingly stable and efficient, contributing more than 25% of GRDP growth annually, over 95% of import-export turnover, and 60% of total budget revenue, while creating jobs for more than 25,600 workers. Some key industrial products such as steel (accounting for 18%) and electricity (around 5%) contribute significantly to national output,” Nghia said.
In Thanh Hoa, after 20 years of establishment and development, Nghi Son Economic Zone has attracted various large-scale, high value-added projects, creating the foundation for the province’s key industries. Many projects have been operating stably, including the Nghi Son Refinery and Petrochemical Plant, thermal power centres, and metallurgy and construction material projects. Nguyen Quoc Vinh, Director of the Nghi Son Refinery and Petrochemical Plant, said the plant has a processing capacity of more than 10 million tonnes of crude oil per year and has been in operation for eight years. Last year, it supplied more than 10 million tonnes of products to the market, including over 8 million tonnes of petroleum products, meeting 40% of domestic fuel demand.
Trinh Huy Trieu, Head of the Nghi Son Economic Zone and Industrial Parks Authority of Thanh Hoa Province, said that amid global supply chain disruptions and escalating conflicts affecting crude oil supply, enterprises in the zone have adapted flexibly by diversifying raw material sources and mastering petrochemical refining technology. In the first quarter, production value in the area reached more than 74.9 trillion VND (107.41%), while exports totalled nearly 953 million USD (115.08% compared to the same period in 2025). Nghi Son continues to affirm its role as an economic locomotive, promoting growth and shifting the economic and labour structure towards industrialisation in Thanh Hoa Province.
Creating development space
With a “five readiness” approach regarding planning, investment premises, essential infrastructure, human resources, and investor support, Nghe An has made breakthroughs in investment attraction in recent years, gradually transforming from a less-developed area into one of the country’s bright spots. For several consecutive years, the province has ranked among the top 10 localities in attracting foreign direct investment (FDI), with total capital ranging from over 1 billion USD to 1.75 billion USD annually. Dong Nam Economic Zone plays a key role as one of the province’s main growth driving forces.
Total revenue in the economic zone was estimated at 107.42 trillion VND in 2025, up 39% year-on-year; export turnover reached approximately 2.58 billion USD; and budget revenue totalled 3.59 trillion VND, accounting for 13.5% of the province’s total revenue. The province also attracted more than 1 billion USD in FDI in 2025. Currently, the economic zone already has the presence of many large projects within the global chain that have come into operation, such as Sunny, Radiant, Luxshare, and Runergy, which contribute directly to economic growth and promote a shift towards stable and sustainable production.
Investment attraction has continued to improve in 2026. In the first quarter alone, Nghe An ranked third nationwide in FDI attraction, with total FDI capital exceeding 2.2 billion USD. A notable highlight is the Quynh Lap LNG power plant project, with a capacity of 1,500 MW and total investment of over 2 billion USD, expected to provide strong momentum for energy and supporting industry development. The province currently has established nine industrial parks covering nearly 2,753 hectares, with an occupancy rate of over 50%. Its economic zones and industrial parks hosted 356 valid projects with total investment exceeding 217.33 trillion VND as of early April 2026, including 119 FDI projects worth 6.46 billion USD.
A key advantage of Nghe An is its abundant industrial land. Industrial parks such as VSIP, WHA, and Hoang Mai still have more than 1,000 hectares available, including about 600 hectares already cleared and ready for large-scale projects. Nguyen Xuan Duc, Head of the Dong Nam Economic Zone Authority, said many secondary investors have committed to projects, including one in VSIP 3 worth around 900 million USD and another in Hoang Mai II worth about 500 million USD. Land clearance and infrastructure development are being accelerated by the province to meet investors’ demands.
Recently, the Prime Minister approved the expansion of Dong Nam Economic Zone in Nghe An to more than 104,269 hectares, nearly five times its previous size. Under the new plan, the zone will develop as a multi-sector, multi-field complex, with industry at its core, closely linked to the efficient use of seaport systems such as Cua Lo, Dong Hoi, and LNG ports, creating advantages in logistics and international trade. This marks an important milestone, opening new space for Nghe An to enhance competitiveness and attract high value-added projects.
