Nghe An industrial development

Positive movements

At the end of 2024 and the beginning of 2025, the demand for domestic and export orders increased, so Hoa Sen Nghe An Factory is operating at maximum capacity of the production lines to meet the demand for orders. The average production output in the last 3 months reached 57,800 tons/month, 10% higher than the average output in 11 months of 2024.

Mr. Ho Xuan Sy - Director of Hoa Sen Nghe An One Member Co., Ltd. said: In December 2024 and January 2025 alone, the total production output at all production lines of the factory is expected to reach more than 207 thousand tons/month. Currently, the factory is focusing all necessary personnel and resources to speed up production progress to meet the increasing demand for orders. The total output is expected to reach 697,000 tons in 2024, an increase of 10% compared to 2023; revenue is about 13,000 billion VND. It is expected that by the end of 2024, the tax paid to the budget will be about 570 billion VND.

“In 2025, the company plans to produce about 700,000 tons of finished products, with an expected profit of more than VND610 billion. The company is carrying out procedures with the Southeast Economic Zone Management Board to apply for projects to expand production scale at Hoa Sen Nghe An Factory to increase capacity to meet the growing demand of the market,” the company director added.

In recent times, in addition to domestic enterprises with stable production in the area, Nghe An has also begun to welcome new investment capital from abroad. Many "iron fists" entering production and business have contributed to promoting economic and social development, especially in the production of goods, import and export, job creation, and increased budget revenue... The textile and garment sector is also seeing more FDI enterprises "investing" in Nghe An.

Typically, An Nam Matsuoka Garment Co., Ltd. currently has about 2,600 employees working, specializing in garment production. Revenue in 2024 is estimated at 604 billion VND, total import and export turnover in 2024 is estimated at 643 billion VND, including men's pants for Uniqlo brand at the company. The main export markets are Southeast Asia, Korea, Japan, Taiwan, Europe, Canada, and the US.

In 2024, industrial production will change positively, businesses will expand their business scale, contributing to the economic growth of the province. According to data from the Department of Industry and Trade, the industrial production value (comparable price) is estimated at 113,027 billion VND, an increase of 16.38%/year in 2023.

Some industries and fields have good results such as: Construction stone mining industry increased by 32.33%/plan due to increased demand for key traffic projects being implemented in the province. TH Truemilk and Vinamilk factories both maintained good consumption markets and promoted new expanded lines, so it is expected to reach 365 million liters in 2024, an increase of 12.85%/year 2023, an increase of 4.45%/plan because both TH Truemilk and Vinamilk factories maintained good consumption markets and promoted new expanded lines.

Last year, world sugar prices increased, sugar supply from India and Thailand decreased sharply, sugarcane productivity increased and the area of ​​sugarcane raw material area was kept stable, so it is estimated to reach 117,376 tons, an increase of 10.03%/year 2023.

Regarding textile production and export, some factories such as Nakano, Koyu Textile, Matsouka Thanh Chuong, Gaiwat Vietnam are operating stably. At enterprises (Minh Anh Kim Lien, Hi-Tex, Sangwoo, Woin Vina...) orders are stable so garments have increased sharply.

In particular, electronic components have seen remarkable growth. Production of electronic components and auto parts is estimated to double over the same period due to stable production of electronic component production projects in the province, new projects coming into operation have started to produce products for the market (Luxshare ICT Vietnam Co., Ltd. expanded the production line, Goertek Electronic Components and Precision Equipment Factory went into trial operation)...... in 2024, it is estimated to reach 580 million products, 3 times higher than in 2024, achieving the assigned plan.

Restructuring the industry in depth

Restructuring the industry and attracting investment in depth, participating in the supply chain is an issue that the province, the Department of Industry and Trade, and the Southeast Economic Zone Management Board are interested in directing. Therefore, the development of supporting industries continues to develop, especially in the field of manufacturing electronic components and auto parts. Evaluating the results achieved in 2024, Mr. Phan Van Hoa - Director of the Department of Industry and Trade said: During the year, a number of projects producing components, accessories, raw materials and materials came into operation, contributing to increasing added value and competitiveness of products in the value chain; shifting the economic structure, creating many jobs, and contributing significantly to the province's budget revenue.

Nghe An has gradually formed a center for the production of electronic equipment and high-tech equipment in the North Central region, with many projects coming into operation such as: JTEC Nghe An Co., Ltd. produces 417,734 automobile cable sets/year, Everwin Precision Vietnam Electronic Components Factory Phase 1 with 270 million products/year; Luxvisions Innovation Science and Technology Co., Ltd. (Nghe An) produces camera clusters; Kersen Technology Co., Ltd.; JuTeng Electronic Components and Auto Parts Factory Phase I with 32 million products/year; Sunny Automotive Optics Vina Project of Sunny Group specializes in manufacturing, processing optical components, assembling camera modules, mobile phone cameras, car cameras and other electronic devices with a capacity of 60 million products/year.

The textile, garment and footwear industry aims to invest in stages that create high added value in the value chain, applying smart production technology in production stages to become key export products. New projects put into operation this year such as: Viet Fast - Yen Thanh footwear factory, 8 million products/year; Andromeda footwear factory project phase 1 (Hoang Mai I Industrial Park) ... have contributed to shifting manufacturing activities to rural areas and mountainous districts of Nghe An associated with local labor resources, contributing to economic restructuring, creating more jobs and income for workers.