The Management Board of the Ha Tinh Economic Zone approved the investment on 21/9. The project will occupy over 132 hectares in lots CN4-1 and CN4-2 of the central industrial park within the Vung Ang Economic Zone, in Vung Ang ward.
The project has a total investment of over 21.4 trillion VND (approximately $890 million USD), with the investor contributing 3.21 trillion VND (15%) and the remaining amount coming from other sources.
The factory will provide infrastructure, workshops, and ancillary facilities for businesses producing components and parts for the EV industry.
Construction on infrastructure and workshops is scheduled to begin later this year, with completion and operation expected by June 2027.
The Ha Tinh Economic Zone Management Board stated the project will attract further investment and boost the province's socioeconomic development.
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The VinFast electric vehicle factory in the Vung Ang Economic Zone, inaugurated in late June. The EV parts factory will be built near this area. Photo: Hung Le |
The VinFast electric vehicle factory in the Vung Ang Economic Zone, inaugurated in late June. The EV parts factory will be built near this area. Photo: Hung Le
Vingroup has invested in several large-scale projects in Ha Tinh in recent years. In late 2021, the group built the VinES electric vehicle battery factory in the Vung Ang Economic Zone, spanning nearly 13 hectares. It began supplying its first products for the VF6 model in mid-2023. In late June, the 360,000 m2 VinFast Ha Tinh factory was inaugurated after seven months of construction. Vingroup also plans to invest in a seaport and logistics project (worth 40 trillion VND, roughly $1.66 billion USD) and the Ky Ninh resort, formerly part of Ky Anh town.
Established in 2006, the 22,000+ hectare Vung Ang Economic Zone has attracted approximately 150 investment projects, creating jobs for nearly 20,000 workers. Key projects include Formosa's steel complex and Son Duong port, and the Vung Ang 1 Thermal Power Plant.
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A view of the Vung Ang Economic Zone, where Vingroup is investing in several large-scale projects. Photo: Duc Hung |
A view of the Vung Ang Economic Zone, where Vingroup is investing in several large-scale projects. Photo: Duc Hung
In the first six months of the year, Ha Tinh attracted 20 investment projects, including two foreign direct investment (FDI) projects. Compared to the same period last year, the number of projects increased by three, and the total registered capital tripled.
Duc Hung
