The economic landscape of Nghe An: Creating momentum and strength for a new era.Part 1: The destination of the global value chain
Over the past five years, Nghe An has been gradually establishing a new position on the global production map. Its increasingly prominent presence, coupled with continuously growing high-tech FDI flows, has created new production capacity and accelerated economic restructuring. These movements reflect a pivotal stage of development, as Nghe An proactively integrates more deeply into global value chains, playing an increasingly clear and sustainable role.
Content:Thanh Duy /Present: Hong Toai• January 20, 2026
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Over the past five years, Nghe An has been gradually establishing a new position on the global production map. Its increasingly prominent presence, coupled with continuously growing high-tech FDI flows, has created new production capacity and accelerated economic restructuring. These movements reflect a pivotal stage of development, as Nghe An proactively integrates more deeply into global value chains, playing an increasingly clear and sustainable role.
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In the manufacturing plant of Everwin Precision Technology (Vietnam) Co., Ltd. in the VSIP Nghe An Industrial Park, CNC machines operate continuously, producing high-precision components for leading global technology products. Few would guess that the components that make up the Macbook computer and many other smart devices of Apple Corporation are being manufactured right here in Nghe An.
Everwin Precision is currently implementing two projects in Nghe An province with a total investment of nearly $310 million, covering an area of 48 hectares, operating in the fields of electronics and precision mechanics. The first project was licensed in 2021 and officially commenced operations in 2024; the second project, licensed in 2023, focuses on the production of electronic components and is currently in the investment preparation phase. The company currently employs approximately 2,000 workers and is expected to require around 15,000 workers when operating at full capacity, with a designed capacity of up to 420 million products per year. In 2025 alone, the company's revenue and import/export turnover are both projected to exceed $60 million.
Not only Everwin Precision, but a series of FDI projects operating in these industrial parks are closely linked to global technology "leaders" with names that any country or locality would want to attract, such as Foxconn, Luxshare ICT… If we look at the context of just a few years ago, we can clearly see the fundamental change in Nghe An's industrial structure. Previously, the local economy mainly stood at the lower levels of the value chain, relying heavily on resource exploitation, semi-processed products, simple processing, or labor supply, with limited added value. The presence of these businesses shows that Nghe An is gradually participating in the more core stages of the global value chain with strict standards of technology, quality management, and production discipline established by multinational corporations.
This is further confirmed by the particularly noteworthy milestone of October 5, 2022, when Apple's homepage announced that Nghe An had appeared for the first time in the list of locations worldwide with partner factories producing for the company. In the list of approximately 190 global partners in 2021, accounting for 98% of Apple's total direct spending on materials, production, and assembly, Nghe An was ranked alongside major industrial centers in the US, Germany, Japan, South Korea, India, China, and Thailand. This serves as both a testament to the credibility and capacity of Nghe An's investment environment in the context of increasingly fierce competition to attract global capital; and clearly affirms Nghe An's shift in status from a "low-lying" industrial region to a global manufacturing hub with the highest standards in technology, management, and supply chain. This image is clearly demonstrated in key industrial ecosystems such as VSIP Nghe An, WHA Industrial Zone Nghe An, and Hoang Thinh Dat I and II. Mr. Teng Wei Hong, General Director of VSIP Nghe An Co., Ltd., affirmed that the projects currently operating in VSIP Nghe An directly supply products to leading global corporations such as Apple and Samsung.
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These fundamental shifts are also clearly reflected in industrial indicators. In 2025, Nghe An's Industrial Production Index (IIP) is projected to increase by 16.5%, ranking 4th nationwide – the highest ever, according to data from the General Statistics Office (Ministry of Finance). Nghe An is only behind Phu Tho (26.4%), Ninh Binh (22.8%), and Bac Ninh (17.1%). Key industries such as processing and manufacturing continue to maintain stable growth, making a significant contribution to the province's overall economic growth. This shift is also evident in the economic structure. While the industrial and construction sector accounted for only about 27% in 2020, it is expected to increase to nearly 31% by 2025. According to Bui Thanh An, Standing Vice Chairman of the Provincial People's Committee, Nghe An has become one of the three processing and manufacturing industrial centers in the country, alongside Hanoi and Ho Chi Minh City. Ho Chi Minh City and its surrounding areas, and recognized by the Government.
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These transformations cannot be achieved without mentioning Nghe An's outstanding success in attracting investment, especially foreign direct investment (FDI), from 2020 to the present. Over the past five years, Nghe An has witnessed a strong breakthrough in both the scale and quality of investment capital flows, with FDI becoming one of the brightest highlights of the local economy.
One of the pioneering and exemplary investors in the wave of high-tech FDI into Nghe An is Luxshare Group. As early as June 2019, Luxshare chose Nghe An for its first investment project, investing $140 million in the VSIP Nghe An Industrial Park to build an electronic component manufacturing plant, which quickly commenced operations. From that initial step, Luxshare has continuously expanded its investment scale, becoming the largest FDI investor in Nghe An to date.
Currently, the group is implementing 7 projects in the electrical and electronics sector with a total investment of up to 1.188 billion USD, operating under 6 legal entities and employing approximately 30,000 workers. In 2025 alone, Luxshare's businesses in Nghe An province are expected to achieve revenue exceeding 2 billion USD, with total import and export turnover exceeding 4.5 billion USD, continuing to play a pivotal role in the province's industrial growth and exports.
Looking back over the past five years, Nghe An's FDI landscape shows strong and continuous growth, especially since 2022. In that year, the province attracted $961.3 million in FDI, ranking among the top 10 localities attracting the most FDI nationwide for the first time. By 2023, Nghe An surpassed the $1 billion mark in FDI for the first time, reaching $1.603 billion and ranking 8th nationwide. In 2024, FDI inflows continued to increase to $1.75 billion, helping Nghe An maintain its 8th position nationwide. In 2025, amidst the nationwide administrative reorganization, reducing the number of provinces and cities from 63 to 34, Nghe An is the only locality not undergoing mergers but still attracting over $1 billion in FDI, specifically over $1.014 billion, ranking 11th nationwide according to data from the General Statistics Office, Ministry of Finance.
In the context of the world and the country constantly facing unprecedented upheavals due to the Covid-19 pandemic, supply chain disruptions, energy price fluctuations, and prolonged geopolitical conflicts, the emergence of Nghe An as a new destination for high-tech FDI is no coincidence. It is the result of a long-term preparation process in infrastructure, institutions, the investment environment, and especially a shift in development thinking.
Assessing future prospects, the Head of the Southeast Economic Zone Management Board, Le Tien Tri, believes that in 2026 and subsequent periods, Nghe An's FDI attraction will continue to flourish as strategic transportation infrastructure is gradually completed. Key projects such as the North-South expressway through the province, the North-South high-speed railway, the upgrading of Vinh International Airport, and the commencement of the Cua Lo deep-water port will create a significant competitive advantage in attracting investment. In addition, the Quynh Lap LNG power plant project, connected to the Dong Hoi seaport and expected to be implemented in early 2026, will contribute to ensuring energy security for large-scale industrial production.
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In particular, the VSIP Nghe An, WHA Industrial Zone Nghe An, and Hoang Thinh Dat I & II industrial parks currently have a total land area of over 1,000 hectares, of which over 600 hectares are cleared land, ready to immediately receive large-scale investment capital. Along with an abundant labor force and increasingly streamlined and transparent administrative procedures, Nghe An is facing positive prospects to continue attracting significant investment projects, especially FDI, in the coming period.
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(To be continued)
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