Billion-dollar projects 'land' in central Vietnam province Ha Tinh

Ha Tinh is emerging as one of the provinces attracting strongest investments in Vietnam, with a series of billion-dollar projects related to LNG terminal development, wind power, and factories for lease.

In the first eight months of 2025, Ha Tinh granted in-principle approvals to 24 domestic projects worth over VND19,632 billion ($743 million) and three foreign-invested projects with registered capital of about $14.4 million.

The Ha Tinh province People’s Committee recently gave in-principle approval to the North Central LNG Terminal project, with PV Gas, a subsidiary of state-owned giant Petrovietnam, as investor.

Located in Hoanh Son ward, the project, also called Vung Ang LNG Terminal, aims to supply natural gas for power plants including Quang Trach 2, Vung Ang 3, Quang Trach 3, and various industrial users across the region.

PV Gas aims to have the entire project completed and operational by Q4/2029. Total investment is over VND26.7 trillion (around $1.01 billion).

Ha Tinh province's authorities also green-lighted the 400 MW Ky Anh wind power project with an investment of VND17 trillion ($644.37 million). The project is set to go into operation in Q4/2028.

Bidding will be conducted to select investors for this land-using complex. Located in the communes of Ky Xuan, Ky Anh and Ky Khang with a total survey area of about 5,069 hectares, it will include 47 turbines, wih a capacity of 5-8.5 MW each.

The people's committee requires the project to complete legal procedures no later than Q3/2026, start construction in Q4/2026, and come into commercial operation in Q4/2028. When completed, it will become one of the key renewable energy sources, adding a significant supply to the national power system.

The Ha Tinh Economic Zone Authority on September 20 granted in-principle approval to Vinhomes Ha Tinh Industrial Park JSC, a subsidiary of Vingroup (HoSE:VIC), for building factories for lease serving the electric vehicle (EV) supply sector at the Vung Ang Economic Zone. The 132-hectare project has total investment of VND21.4 trillion ($811.14 million).

Vo Trong Hai, Chairman of the Ha Tinh People’s Committee, noted that the Vung Ang Economic Zone holds a strategic location, connecting the northern, central and southern regions of Vietnam and the East-West economic corridor.

Over the past decade, the zone has developed into a hub for metallurgy, thermal power, and mechanical engineering, becoming a growth engine for Ha Tinh and contributing significantly to the national economy.

"The presence of large-scale projects will drive the development of infrastructure, services, and logistics, positioning Vung Ang as a key seaport and industrial hub in the north-central region," Hai said.

Moreover, major capital inflows and advanced technologies from leading corporations will generate spillover effects, encouraging local enterprises to join supply chains and enhance competitiveness. Ha Tinh will also have the opportunity to make breakthroughs and assert its position on the national and international investment map, he added.

VinEnergo Energy Joint Stock Company, a subsidiary of Vingroup, in early August signed MoUs to install rooftop solar power systems integrated with battery energy storage systems (BESS) with the VinFast automobile plant and two battery factories in Ha Tinh.

VinFast, also a subsidiary of Vingroup, on June 28 inaugurated an EV factory in the Vung Ang Economic Zone, its second in Vietnam after the one in Hai Phong city.

Ha Tinh is also home to Taiwan-invested Formosa Ha Tinh Steel - a steel making heavyweight, Vung Ang 1 and 2 thermal power plants, and Vung Ang Port.