Nghe An's industrial sector is thriving.
In 2024, Nghe An's investment attraction continued to accelerate, achieving impressive results. Alongside this, industrial production showed positive developments, with businesses boosting production, expanding their scale of operations, and contributing to economic growth.
Positive movements
In late 2024 and early 2025, domestic and export order demand increased significantly, therefore, Hoa Sen Nghe An Factory is operating its production lines at maximum capacity to meet order demands. Average production output in the last three months reached 57,800 tons/month, 10% higher than the average output for the first 11 months of 2024.
Mr. Ho Xuan Sy, Director of Hoa Sen Nghe An Co., Ltd., stated: In December 2024 and January 2025 alone, the total production output across all factory lines is expected to reach over 207,000 tons per month. Currently, the factory is focusing all its personnel and resources to accelerate production to meet the increasing demand for orders. The total projected output for 2024 is 697,000 tons, a 10% increase compared to 2023; revenue is expected to reach approximately 13,000 billion VND. The projected tax revenue for the year 2024 is approximately 570 billion VND.
“In 2025, the company expects to produce approximately 700,000 tons of finished products, with projected profits exceeding 610 billion VND. The company is currently undertaking procedures with the management board of the Southeast Economic Zone to apply for permission to implement projects to expand production scale at the Hoa Sen Nghe An factory, increasing capacity to meet the growing market demand,” the company director added.
In recent times, alongside stable domestic businesses operating in the area, Nghe An has also begun to welcome new foreign investment. Many large enterprises have entered the production and business sectors, contributing to economic and social development, especially in goods production, import and export, job creation, and increased budget revenue. The textile and garment sector is also seeing more FDI enterprises investing in Nghe An.
For example, An Nam Matsuoka Garment Co., Ltd. currently employs approximately 2,600 workers and specializes in garment manufacturing. Estimated revenue for 2024 is 604 billion VND, and total import and export turnover is estimated at 643 billion VND, including men's trousers for Uniqlo. The company's main export markets are Southeast Asia, South Korea, Japan, Taiwan, Europe, Canada, and the United States.
In 2024, industrial production showed positive developments, with businesses expanding their scale and contributing to the province's economic growth. According to data from the Department of Industry and Trade, the value of industrial production (at constant prices) is estimated at VND 113,027 billion, an increase of 16.38% compared to 2023.
Several sectors and fields achieved good results, such as: the construction stone quarrying industry increased by 32.33% compared to the plan due to increased demand for key transportation projects being implemented in the province. Both TH Truemilk and Vinamilk factories maintained good sales and effectively utilized their newly expanded production lines, so the projected output for 2024 is estimated at 365 million liters, an increase of 12.85% compared to 2023 and 4.45% compared to the plan, as both TH Truemilk and Vinamilk factories maintained good sales and effectively utilized their newly expanded production lines.
Over the past year, world sugar prices have risen sharply, sugar supplies from India and Thailand have decreased significantly, sugarcane yields have increased, and the area of sugarcane growing regions has remained stable, resulting in an estimated output of 117,376 tons, an increase of 10.03% in 2023.
Regarding textile production and export, several factories such as Nakano, Koyu Textile, Matsouka Thanh Chuong, and Gaiwat Vietnam are operating stably. At other enterprises (Minh Anh Kim Lien, Hi-Tex, Sangwoo, Woin Vina, etc.), orders are stable, leading to a strong increase in garment production.
In particular, the electronic components sector has seen exceptional growth. The production of electronic components and automotive parts is estimated to double compared to the same period last year due to stable production from electronic component manufacturing projects in the province, and the commencement of production by new projects (Luxshare ICT Vietnam Co., Ltd. expanding its production line, Goertek Electronic Components and Precision Equipment Manufacturing Plant entering trial operation)... In 2024, production is estimated to reach 580 million products, a threefold increase compared to 2024, meeting the assigned plan.
Restructuring the industry in a more in-depth manner.
Restructuring the industrial sector and attracting investment in a more in-depth manner, participating in supply chains, is a priority for the province, the Department of Industry and Trade, and the Management Board of the Southeast Economic Zone. Therefore, the development of supporting industries continues to grow, especially in the production of electronic components and automotive parts. Evaluating the results achieved in 2024, Mr. Phan Van Hoa, Director of the Department of Industry and Trade, stated: During the year, several projects producing components, raw materials, and supplies commenced operations, contributing to increased added value and product competitiveness within the value chain; shifting the economic structure; creating numerous jobs; and making a significant contribution to the province's budget revenue.
Nghe An is gradually becoming a center for the production of electronic and high-tech equipment in the North Central region, with many projects coming into operation such as: JTEC Nghe An Co., Ltd. producing 417,734 automotive cable sets/year; Everwin Precision Vietnam electronic component manufacturing plant (phase 1) with 270 million products/year; Luxvisions Innovation (Nghe An) producing camera modules; Kersen Technology Co., Ltd.; JuTeng electronic component and automotive parts manufacturing plant (phase I) with 32 million products/year; Sunny Automotive Optics Vina project of Sunny Group specializing in the production and processing of optical components, assembling camera modules, mobile phone cameras, automotive cameras and other electronic devices with a capacity of 60 million products/year.
The textile and footwear industries aim to invest in high value-added stages of the value chain, applying smart manufacturing technologies to production processes to become key export products. New projects that came into operation this year, such as the Viet Fast - Yen Thanh footwear manufacturing and processing plant with a capacity of 8 million products/year; and the Andromeda footwear manufacturing plant project, phase 1 (Hoang Mai I Industrial Park)... have contributed to shifting manufacturing and processing activities to rural areas and mountainous districts of Nghe An province, linking them with local labor, contributing to economic restructuring, and creating more jobs and income for workers.
The achievements in 2024 will serve as a foundation to build momentum and add new production capacity to the industry, ensuring the growth targets set forth in the Congress Resolution are met.
According to the leaders of the Department of Industry and Trade, in the coming period, they will focus on effectively implementing the Plan for implementing Resolution No. 07-NQ/TU. They will promote the development of industries based on science and technology, innovation, high added value, resource efficiency, and environmental friendliness; attract investment in key industrial projects, especially large-scale projects that create a ripple effect; promptly address difficulties and obstacles for businesses; integrate rural industrial development policies to support rural industrial enterprises and establishments in investing in production and business development; strengthen efforts to attract investors in industrial cluster infrastructure to create attractive spaces for secondary investors; and accelerate the progress and completion of technical infrastructure in VSIP, WHA, Hoang Mai I, Hoang Mai II industrial parks and other industrial clusters to attract investors.
In 2025, the value of industrial production is projected to reach VND 130,600 billion, an increase of 15.55% compared to 2024. The added value of the industrial sector is estimated at VND 26,178 billion, an increase of 15.5% compared to 2024. Total retail sales of goods are projected at VND 120,000 billion, an increase of 12.1% compared to 2024. Total export turnover is estimated at USD 4,500 million, exceeding the target of USD 1,765 million set in the Congress Resolution, an increase of 21.62% compared to 2024.
