In the first nine months of 2026, the province attracted 2.49 billion USD in FDI, the sixth highest figure nationwide.
FDI emerges as key growth driver
In 2025, the Nghe An People’s Committee granted licences to 25 new FDI projects and approved capital adjustments for 20 existing ones, with combined registered capital of more than 1 billion USD.
Several major projects in the Southeast Nghe An Economic Zone began operations, boosting exports and state budget revenue, creating jobs and raising incomes for local workers.
In 2026, FDI projects in Nghe An grew markedly in scale, with the emergence of billion-dollar projects underscoring the province’s growing appeal as an investment destination.
A notable example is the 2.2 billion USD Quynh Lap LNG Power Plant project, being developed by a consortium of PetroVietnam Power Corporation (PV Power), the Republic of Korea’s SK Group and Nghe An Sugar Limited Liability Company (NASU).
Industry and construction account for 34.05% of the province’s economy.
The figure indicates that industrialisation is gaining momentum, with manufacturing and FDI enterprises increasingly driving economic growth and provincial competitiveness.
Strong performance across multiple sectors has lifted Nghe An to 14th among Viet Nam’s 34 provinces and cities, led by industrial development, particularly manufacturing, with a sharp rise in FDI inflow.
FDI has helped expand production capacity, upgrade technology, develop new industrial value chains, create jobs and strengthen the local economy’s competitiveness.
Investment environment improves markedly
The Nghe An People’s Committee has backed its efforts to improve the investment environment with concrete decisions. In late 2025, for example, it approved a plan to simplify administrative procedures handled by the Southeast Nghe An Economic Zone Management Board.
Under the plan, processing times for construction-related administrative procedures have been cut by about 40%.
Economists have said that, together with cleared land, an abundant workforce, and the numerous infrastructure and logistics projects now under construction, simpler procedures and shorter processing times will make Nghe An increasingly attractive to foreign investors in the coming years.
Dispong Pornchanoknart, Country Director of WHA Group in Viet Nam, said the company is building its second industrial park, covering about 250 hectares, as part of a long-term plan to develop about 2,000 hectares of industrial parks in Nghe An.
After nearly a decade in the province, beginning with its first industrial park of about 500 hectares in Than Linh Commune, the company regards investing in Nghe An as one of its best decisions in Viet Nam.
Teng Wei Hong, General Director of VSIP Nghe An Co., Ltd., said he appreciated the province’s active support for investors in expanding their markets and winning high-tech, high-value orders.
He said VSIP Nghe An 1 Industrial Park has reached an occupancy rate of 95% and attracted many leading enterprises in electronics and precision engineering. Its workforce has grown from about 2,000 prior to the COVID-19 pandemic to nearly 40,000 now.
Teng said he was confident that artificial intelligence (AI), data centres, robotics, semiconductors, research and development, renewable energy, green technologies and high-tech supporting industries would become new growth drivers for the province.
Building on these results, Nghe An has recently issued a plan to attract 6-8 billion USD in FDI in 2026-2030, an average of 1.2-1.6 billion USD a year.
The province aims to source 70% of its FDI capital from developed economies with advanced technology, strong financial resources and modern management expertise.
By 2045, Nghe An aims to become a hub for manufacturing, services and innovation in central Viet Nam, closely integrated into global value chains.
By 2045, Nghe An aims to become a hub for manufacturing, services and innovation in central Viet Nam, closely integrated into global value chains.
To realise this ambition, the province has set out several measures, including substantially improving the business and investment environment, accelerating administrative reform, promoting digital transformation, enhancing provincial competitiveness and developing a highly skilled workforce.
It also plans to be more selective in attracting investment, shifting its focus from the volume of capital to the quality and added value of projects.
Priority sectors include electronics, semiconductors, digital devices, AI, big data, cloud computing, biotechnology, high-tech agriculture, green energy and modern logistics.
The Nghe An Master Plan for 2021-2030, with a vision to 2050, identifies three strategic breakthroughs for socio-economic development: improving institutions, mechanisms and policies, as well as the business and investment environment; developing the workforce in tandem with science and technology, innovation and digital transformation; and building a modern, integrated infrastructure system.
The Southeast Nghe An Economic Zone has been identified as the province’s main growth engine. It is to be developed into a free economic zone and a key destination for investment in industry, logistics, seaports, urban development and the marine economy.
The recent expansion of the Southeast Nghe An Economic Zone to 104,000 hectares is expected to ease persistent shortages of industrial land and allow more flexible planning of functional zones.
Alongside its existing industrial parks, Nghe An is speeding up site clearance for new ones, including VSIP Nghe An 3, Hoang Mai II and Tho Loc.
Speaking about the province’s strategy for attracting investment, Vo Trong Hai, Chairman of the Nghe An People’s Committee, said the province would continue to build an administration that serves businesses and supports development.
He said the province would intensify administrative reform, improve governance and create a transparent, stable and favourable investment environment.
It would also support businesses at every stage of their projects, from exploring investment opportunities, completing procedures and clearing land to construction, production and expansion.
