8 FDI projects inject $2.2 billion into Nghe An

To achieve the target of 10.5% growth in 2025, Nghe An aims for a 17.54% growth in the industrial sector, with the processing and manufacturing industry continuing to be the driving force, targeting an 18.86% increase this year.

According to the plan for implementing the province’s Gross Regional Domestic Product (GRDP) growth scenario, in the industrial and construction sectors, Nghe An aims to support 8 major FDI projects expected to be operational in 2025.

In VSIP Industrial Park, the projects include: Luxcase Vietnam Precision Technology Co., Ltd. with an investment of $473 million; Luxshare - ICT (Nghe An) II with an investment of $358.5 million; Innovation Precision Vietnam Co., Ltd. with an investment of $165 million; Radiant Opto-Electronics Vietnam factory with an investment of $145 million.

In WHA Industrial Park, the projects include: Goertek Vina Precision Industry Co., Ltd.'s electronic products, network equipment, and multimedia audio products manufacturing plant with an investment of $325 million; Fu Wing Interconnect Technology Nghe An Co., Ltd. with an investment of $200 million; Sunny Automotive Optical Vina’s new facility investment project with an investment of $150 million.

In Hoang Mai I Industrial Park, there is the monocrystalline silicon ingot and semiconductor wafer manufacturing plant of Runergy Vietnam Technology Co., Ltd. with an investment of $440 million.

Additionally, the province is focusing on stabilizing the production capacity of large FDI projects that commenced operations at the end of 2024, including: Luxshare - ICT Nghe An with an investment of $151.5 million; Ju Teng’s electronic components and automotive parts manufacturing plant with an investment of $200 million; Everwin Precision Vietnam Technology Co., Ltd. with an investment of $165 million; Tan Viet Metal Science and Technology Factory of Yongjin Vietnam Metal Science and Technology Co., Ltd. with an investment of $125.2 million.

The province is working to complete investment policy approval procedures and investor selection bidding for the Quynh Lap LNG Power Project (1,500 MW capacity, estimated total investment of $2.11 billion), expected in Q1 2025.

Furthermore, the province is supporting businesses to boost the production of key industrial products from newly operational projects, including: Footwear products (expected output of 90 million pairs, up 63.64%); Automotive components, optical lenses, and semiconductor wafers (650 million products, up 12.07%); MDF wood panels, laminated wood products, packaging materials, etc.

Additionally, 3 new hydropower plants with a total capacity of 78.8 MW will be supported for operation in 2025, including: Chau Thon - 29.8 MW (expected to generate power in Q1 2025); Suoi Choang - 4 MW; Ban Mong - 45 MW.

The Nghe An Provincial People’s Committee has established an Industrial Task Force to proactively monitor the situation, promptly support operational plants in maximizing capacity, and assist in resolving difficulties, accelerating the progress of ongoing projects to bring them into operation in 2025. The goal is to achieve an Industrial Production Index (IIP) growth of at least 14.5% compared to 2024.