FDI - A driving force for Nghe An's industrial breakthrough.
Over the past three years, Nghe An has emerged as a bright spot on the map of attracting foreign direct investment (FDI) in the North Central region and the whole country. FDI inflows have not only brought abundant financial resources but also opened up a strong transformation for the local industry, gradually enhancing Nghe An's position in the global supply chain.
Accelerate FDI attraction.
As of the end of July 2025, Nghe An province had attracted over VND 16,400 billion in investment capital, including nearly USD 300 million from the FDI sector. There were 8 newly approved projects with a total registered capital of USD 76.2 million and 7 capital increase adjustments totaling USD 215.9 million. To date, Nghe An has 169 active FDI projects with a total registered capital of over USD 5.6 billion. This demonstrates that foreign capital is increasingly trusting and choosing Nghe An as a strategic destination for expanding production in Vietnam.
Contributing to the flourishing of Nghe An's industry are a series of large-scale projects from leading global corporations such as Luxshare ICT, Foxconn, Goertek, Everwin, Ju Teng, Sunny Optical, Runergy, etc.
Notably, the Runergy project – a large-scale single-crystal silicon ingot manufacturing plant with a total investment of approximately $440 million – is considered a "steel punch" for the breakthrough development of the energy and high-tech industries in Nghe An.
Another key project currently undergoing investment procedures is the Quynh Lap LNG power plant (1,500MW), with a scale of up to US$2.11 billion, which is in the implementation phase. Upon completion, this will be one of the largest energy projects in Central Vietnam, creating a strong boost to industrial infrastructure and energy supply capacity for the entire region.
In the Southeast Economic Zone, 2024 and 2025 witnessed a boom in investment, with 20 new projects receiving certification and 20 projects adjusting their capital upwards, reaching a total value of VND 41,766 billion – exceeding the target by 208% and accounting for more than 68% of the total registered capital of the entire province. This result reflects the strong attractiveness of Nghe An in the context of increasingly fierce competition to attract FDI.
Mr. Pham Tien Dung, representative of Everwin Vietnam Industrial Company, stated: “The company has completed the investment in components 1 and 2 of the project, creating stable jobs for over 2,000 local workers. Despite the challenging and volatile political and economic environment, and the risks associated with tariffs, Everwin Vietnam remains steadfast in its long-term investment and sustainable development goals in Nghe An province. During its operations in Nghe An, Everwin Vietnam has received close support and timely assistance from the provincial government, especially the Southeast Economic Zone Management Board. The transparent investment environment, streamlined administrative procedures, and increasingly improved infrastructure have instilled confidence in us to expand our production scale. Furthermore, we hope the province will continue to focus on training highly skilled human resources and developing social infrastructure such as housing and services for workers, contributing to the long-term stability of the workforce and enhancing the effectiveness of cooperation.”
Representatives of the investors in the WHA Industrial Zone - 1 Nghe An project also stated: "We highly appreciate the timely support and cooperation of the Nghe An provincial government, especially the Southeast Economic Zone Management Board, in resolving procedures and ensuring a transparent and efficient investment environment."
Expanding the scale and upgrading the infrastructure of industrial parks.
To date, Nghe An has established 8 industrial parks with a total area of 2,570 to 2,600 hectares, with an average occupancy rate of 53–56%. Notably, approximately 859 hectares of land are available for FDI projects, concentrated in strategic locations such as VSIP 1, VSIP 2, WHAIZ 1–2, Hoang Mai I–II, Tho Loc, Dien Quynh, and Nghia Dan.
In 2025, the province is also implementing a plan to develop four new industrial parks, expanding by an additional 760 hectares to accommodate the wave of high-tech and supporting industry investments. The province is directing the simultaneous upgrading of transportation infrastructure, electricity supply, water supply, wastewater treatment, etc., in a green, smart, and sustainable direction.
The strong development of FDI projects has led to a high demand for labor. By 2024-2025, the number of workers employed in FDI enterprises in Nghe An province is expected to reach over 45,000, an increase of nearly 78% compared to 2019. Notably, the majority of this workforce consists of female workers from rural areas, contributing to changes in income structure and social welfare in the localities. By the end of 2025, industrial parks in the province will need to recruit more than 70,000 new workers. Companies such as Luxshare ICT, Merry & Luxshare, Ju Teng, Everwin, etc., each require thousands of personnel. In response to this high demand, many support policies have been implemented jointly by businesses and the government, including housing allowances, lunch allowances, attendance bonuses, and transportation support.
Foreign direct investment (FDI) has helped Nghe An's industry achieve positive results. The Industrial Production Index (IIP) in the first and second quarters of 2025 increased by 10.38% compared to the same period last year, with the processing and manufacturing sector increasing by 11.3%. This is a clear result of the contributions from large corporations such as Foxconn, Luxshare ICT, Goertek, Runergy, etc.
Foreign direct investment (FDI) has also contributed to boosting export turnover, mainly from electronic components, optical equipment, semiconductors, high-performance batteries, technical metal products, and garments. Furthermore, modern FDI projects have provided workers with access to advanced production lines and international management methods, improving their skills and work discipline. Domestic businesses have also learned from these advancements and are gradually integrating into global supply chains.
To enhance competitiveness and attract investment, Nghe An province is persistently pursuing its "5 Ready" strategy. This includes readiness in infrastructure, clean land, human resources, preferential policies, and a friendly administrative environment. The province is also focusing on digital transformation, administrative procedure reform, transparency in investment processes, and creating maximum convenience for investors.
Towards the linehigh-quality capital
Shifting its investment promotion strategy towards in-depth development, Nghe An has changed from a mass-market approach to prioritizing infrastructure businesses, high-tech industries, green industries, and sectors with high added value and low emissions. Nghe An is also gradually building a selective FDI attraction strategy, focusing on high-tech, cutting-edge, and environmentally friendly industries. Specifically, priority sectors include: Electronics, microchips, semiconductors; Renewable energy: solar power, LNG, green hydrogen, high-tech supporting industries; New materials, recycled products; Smart manufacturing: AIoT, robotics, Industry 4.0.
Mr. Le Tien Tri, Head of the Management Board of the Southeast Nghe An Economic Zone, said: The province will develop a list of priority industries, widely publicize it along with separate incentive packages regarding taxes, infrastructure, labor, etc. Simultaneously, Nghe An will promote the training of high-skilled technical personnel through cooperation with businesses, research institutes, and universities, helping the local workforce to be ready to meet the requirements of modern production.
Foreign direct investment (FDI) is a cornerstone and a driving force propelling Nghe An's industry to new heights during the profound transformation of the economy. With the arrival of global corporations, FDI not only provides impetus for growth but also transforms the structure and industries of the locality. However, for FDI to continue its role as a lever, reduce the reliance on outsourcing, contribute more to growth, and increase the localization rate, Nghe An needs to proactively select high-quality capital flows, orient its development towards in-depth growth, build a "green and smart" strategy, and strengthen its internal human resources, infrastructure, and logistics services.