Two major Vingroup-invested projects broke ground in northern Vietnam

Vingroup on Friday commenced construction on two big projects under the witness of Prime Minister Pham Minh Chinh - Phase 1 of the Tan Trao Industrial Park and the Hai Phong LNG-to-power plant, the largest of its kind in Vietnam.

The Tan Trao Industrial Park, with an investment VND4 trillion ($151.46 million) for Phase 1, is developed by Vinhomes Hai Phong Industrial Park Investment JSC. It covers nearly 227 hectares in Kien Hung and Nghi Duong communes.

The project, built over five years Q2/2025-Q2/2030, will become a major hub for advanced industries and technologies, with modern technical infrastructure, attracting diverse sectors such as electronics, telecommunications, pharmaceuticals, supporting industries, new materials, clean energy, and renewable energy.

With its scale, location, and synchronized development orientation, Tan Trao will become one of Hai Phong’s new growth drivers and a model industrial hub for the entire country. It is expected to gather tens of thousands of highly skilled workers from across Vietnam and abroad.

The 4,800 MW Hai Phong LNG power plant, located within the Tan Trao Industrial Park, is developed by a joint venture between Vingroup and the group's subsidiary VinEnergo JSC. The nearly 100-hectare plant has a total investment of over VND178 trillion ($6.74 billion).

The facility will be constructed over five years and is scheduled to begin operations by late 2030. It will supply about 9.6 billion kWh per year in Phase 1 and 19.2 billion kWh per year in Phase 2, serving both the Tan Trao Industrial Park and the national grid, thereby enhancing energy security and reducing reliance on traditional fossil fuels.

With a designed capacity of 4,800 MW (1,600 MW in Phase 1 and 3,200 MW in Phase 2), this will be Vietnam’s largest thermal power plant, as outlined in the National Power Development Plan VIII, and one of the world’s leading LNG-fired power facilities.

The plant’s launch marks a strategic step for Vingroup in the clean energy transition and paves the way for sustainable, green economic development.

The two projects reflect Hai Phong’s determination to establish a new growth pole in the Southern Coastal Economic Zone.

The city, an economic hub in northern Vietnam, seeks to restructure the economy towards modernization and sustainability, identifying science-technology, innovation, and digital transformation as key drivers, and promoting high-tech industries, logistics, marine economy, and clean energy.

Speaking at the groundbreaking ceremony, Nguyen Viet Quang, vice chairman and CEO of Vingroup, emphasized that the Tan Trao Industrial Park will not only create new modern infrastructure to attract high-tech industries but will also be integrated with the Hai Phong LNG power plant, a strategic project ensuring stable electricity supply.

“This synergy forms a closed industrial-energy ecosystem, boosting investment appeal and fostering sustainable development. It is a comprehensive development model that Vingroup hopes to replicate, contributing to the nation’s industrialization and modernization,” he stated.

Prime Minister Pham Minh Chinh stressed that rapid development must go hand in hand with sustainability. “We cannot attract investment at any cost. We must be selective, prioritizing high technology, technology transfer, and high-quality human resource training, thereby enhancing governance and ensuring green development. The two projects launched today are of great significance in realizing that vision."

Previously, in June 2019, Vingroup had put into operation the VinFast automobile manufacturing complex in Cat Hai, which has become a key growth engine, contributing to Hai Phong’s GRDP ranking among the highest nationwide in recent years.

Alongside industrial development, Vingroup has also partnered with Hai Phong city on numerous strategic projects such as the Hoang Gia Bridge and four mega-urban areas. These contributions have laid a solid foundation for Hai Phong to rise as a major economic growth pole in northern Vietnam and a leading national center of industry and services.