Nghe An attracts investment and promotes industrial growth.

Continue to improve investment attraction efforts.

In March 2025, the province approved investment policies/issued investment registration certificates for 4 projects with a total investment capital of VND 1,502.4 billion; adjusted 8 projects, including 2 capital adjustments, with a total adjusted capital increase of VND 1,262.4 billion. The total newly adjusted investment capital was VND 2,764.8 billion.

Some major newly approved projects include VSIP Nghe An 3 Industrial Park of VSIP Nghe An Limited Liability Company with a total investment of US$52.5 million (equivalent to VND 1,325 billion); and the industrial livestock farm of Con Cuong Investment and Livestock Joint Stock Company with a total investment of VND 131.65 billion.

Major adjusted projects include: the export footwear manufacturing and processing plant in Hoang Mai I Industrial Park of Andromeda Vietnam Footwear Co., Ltd., with a total investment increase of US$32 million; and the Soilbuild Nghe An ready-built factory, warehouse and office rental development project in WHA Industrial Park of SB Co., Ltd. (Nghe An), with a total investment increase of VND 480.8 billion.

From January 1st, 2025 to March 21st, 2025, the province approved investment policies/issued investment registration certificates for 10 projects with a total investment of VND 2,223.5 billion, and adjusted 34 projects, including capital adjustments for 9 projects with a total investment increase of VND 4,441.1 billion. The total newly approved and increased investment capital is VND 6,664.6 billion (equivalent to 45.6% compared to the same period last year).

Specifically: Domestic investment: Newly approved for 7 projects with a total registered investment capital of VND 834.3 billion (accounting for 70% of the number of projects and 37.5% of the total investment capital) and FDI investment: Newly approved for 3 projects with a total registered investment capital of USD 55 million (accounting for 30% of the number of projects and 62.5% of the total investment capital), capital adjustments for 4 projects/total investment increase of USD 56.9 million. The total newly approved and adjusted capital is USD 111.9 million.

Many FDI and non-state investment projects are accelerating their implementation to be completed and put into operation in 2025, such as: Everwin Precision Technology Factory Project (Nghe An); Luxshare - ICT Company Limited Factory Expansion Project (Nghe An); Ju Teng Electronic Technology Company Limited Electronic Component Manufacturing Plant Project; Urban and Social Housing Project in Hung Hoa Commune; Vincom Shophouse Vinh Project; Vinh Tan Eco-Urban Area Project.

For three consecutive years, Nghe An has been among the top localities nationwide in attracting FDI. By 2025, it aims not only to maintain its position but also to elevate the quality of foreign investment flows, while striving for impressive double-digit growth rates. Thanks to the synchronized implementation of solutions, continued innovation, and improved effectiveness of investment promotion activities with a focus on key areas, investment attraction and industrial production continue to yield positive results. Provincial leaders and departments prioritize direct investment promotion based on location, partners, and sectors, especially by closely linking investment promotion activities with investors in industrial park infrastructure.

Industrial production increased significantly.

Attracting investment effectively has a positive impact on industrial production results; some products have made breakthroughs, contributing to socio-economic growth in the area.

According to information from the Department of Industry and Trade, the industrial production index in Nghe An province in March 2025 is estimated to increase by 13.45% compared to the same period last year; specifically: Mining industry increased by 65.58%; Electricity, gas, hot water, steam and air conditioning production and distribution increased by 18.09%; Water supply, waste management and wastewater treatment increased by 12.69%; Manufacturing industry increased by 11.54%.

In March 2025, taking advantage of favorable conditions both domestically and within the province, businesses accelerated production, expanded their scale of operations, and new factories and projects were launched and put into stable operation, contributing to the province's economic growth.

Overall, in the first three months of 2025, the industrial production index increased by 10.74% compared to the same period last year. Specifically: Mining industry increased by 20.62%; Water supply, waste management and wastewater treatment increased by 12.25%; Manufacturing industry increased by 10.41%; and Electricity, gas, hot water, steam and air conditioning production and distribution increased by 10.09%.

The industrial production index increased due to the attention and guidance from various sectors and levels in resolving difficulties and obstacles faced by businesses. Furthermore, businesses' efforts to find consumer markets, especially foreign markets, led to increased orders, and many new projects entered stable operation, contributing to the province's economic growth target.

Some products showed increases, such as: Microphones, estimated at 58.7 million units, an 11.7-fold increase; Headphones without microphones, estimated at 12.1 million units, a 42.68% increase; Charging docks, estimated at 4.2 million units, a 42.58% increase; Yogurt, estimated at 11.5 thousand tons, a 25.76% increase; Cement clinker, estimated at 1.9 million tons, a 21.40% increase; Canned beer, estimated at 25.5 million liters, a 15.48% increase; Electricity production, estimated at 586 million kWh, a 14.51% increase; Beer can packaging, estimated at 1.9 thousand tons, a 13.13% increase.

In addition, some businesses and factories are facing difficulties and challenges due to the impact of the global and domestic situation, leading to reduced orders, large inventories, and high production costs, resulting in lower production output such as: Ready-mix concrete (down 36.57%); Bottled beer (down 28.70%); BSE speakers (down 27.23%); Yarn (down 26.35%); Paper packaging (down 20.46%); Limestone powder (down 9.85%); Tien Phong plastic pipes (down 7.74%); Hoa Sen steel pipes (down 6.52%).

Mr. Pham Van Hoa, Director of the Department of Industry and Trade, assessed that industrial production in Nghe An province during the first three months of 2025 still faced many difficulties and challenges due to the continued instability of the global economy. In particular, there is a strong possibility of a resurgence of deglobalization, trade protectionism, trade wars, and new geopolitical tensions. However, domestically and within the province, industries have many opportunities from attracting foreign investment, with key projects such as semiconductors, renewable energy, and high-speed rail. Furthermore, the determination and unity of the entire political system, along with the creativity, flexibility, and proactiveness of businesses, have ensured that industrial production in the province has maintained a relatively high growth rate.

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In 2025, Nghe An's Industry and Trade sector aims for an industrial production value of VND 130,600 billion, an increase of 15.55% compared to 2024. To achieve this goal, the sector will continue to mobilize resources to implement the industrial and trade development tasks assigned in the 5-year socio-economic development plan for the period 2021-2025. Simultaneously, it will focus on implementing the Nghe An Provincial Planning for the period 2021-2030, with a vision to 2050; the Power Development Plan VIII; the implementation plan for Power Development Plan VIII; and the Action Program to implement Resolution 39-NQ/TW dated July 18, 2023, of the Politburo on building and developing Nghe An province until 2030, with a vision to 2045…