FDI in Ha Tinh: From Billion-Dollar Projects to a New Industrial Ecosystem

With more than 70 FDI projects and total registered capital of approximately USD 16.47 billion, Ha Tinh is steadily affirming its position as one of the most notable industrial investment destinations in Vietnam's North Central region. Behind these investment figures, lies the emergence of large-scale projects in metallurgy, energy, supporting industries, materials production, industrial park infrastructure, and processing and manufacturing – gradually building an industrial ecosystem that is increasingly diverse and substantive.
Billion-Dollar Projects Laying the Foundation for Ha Tinh's Industry
Within Ha Tinh's FDI attraction landscape, the Formosa Ha Tinh Steel Complex and Son Duong Port Project stands out as a particularly important milestone. With total registered capital of more than USD 12.76 billion, it is the largest FDI project ever invested in Vietnam to date.

Formosa Ha Tinh Steel Corporation

The presence of Formosa Ha Tinh has brought about a fundamental transformation for the Vung Ang Economic Zone. Beyond establishing large-scale steel production capacity, the project has also driven the development of the seaport system, logistics, transport, industrial services and many related sectors.
As a result, Vung Ang has gradually taken shape as an industrial space that links metallurgy, seaports, logistics, energy and industrial services, creating a foundation for Ha Tinh to continue attracting new projects of ever greater scale and technological sophistication.
Building on that momentum, the Vung Ang 2 BOT Thermal Power Plant Project (Vung Ang 2 Thermal Power), with total registered capital of approximately USD 2.187 billion, adds another billion-dollar FDI project to the Vung Ang Economic Zone.
If Formosa Ha Tinh has created a growth pole in metallurgy, Vung Ang 2 Thermal Power helps consolidate the energy foundation for the industrial area. The presence of large-scale projects within a single economic space generates a resonance effect, enhancing Vung Ang's appeal to both domestic and foreign investors.

Vung Ang 2 Thermal Power

From the Steel Industry to New Value Chains
A notable feature of recent FDI inflows is the emergence of projects that not only expand production scale but also help move further into the industrial value chain.
A prime example is the Stainless Steel Manufacturing Plant Project in Hoanh Son Ward, Vung Ang Economic Zone, with total registered capital of more than USD 380.1 million. This large-scale project adds a new link to the metallurgy and materials production ecosystem at Vung Ang.
The arrival of the stainless steel plant project is significant in the context of Ha Tinh gradually developing its industrial sector toward product diversification and higher added value. Building on a foundation of large-scale steel production, projects in processing, fabrication and the manufacture of specialised steel products can create conditions for linkages with mechanical engineering, machinery manufacturing and supporting industries.
Alongside these, the Ha Tinh – Vietnam Steel Processing Plant with registered capital of approximately USD 6.99 million, the LIRR Vietnam Low-Carbon Ferro Chromium Refining Plant with approximately USD 1.75 million, together with projects producing and fabricating steel structures and refractory materials, are helping to thicken the industrial chain related to metallurgy.
This is a development direction of considerable importance: from a handful of major industrial projects, Ha Tinh is gradually generating demand and space for satellite enterprises, supplier firms and supporting industry projects.
The Energy Industry Broadens the Investment Space
Ha Tinh's FDI landscape is not confined to metallurgy and heavy industry. Energy is also a notable field within the province's foreign investment structure.
In addition to Vung Ang 2 Thermal Power, the FDI portfolio also includes the Solar Park Cam Xuyen Solar Power Plant with registered capital of approximately USD 29.1 million.
The emergence of solar power projects shows that the investment structure in Ha Tinh is gradually becoming more diverse, expanding from traditional industrial projects into energy and infrastructure sectors that serve economic development.
In particular, amid the energy transition and growing attention to sustainable development requirements, this represents room for Ha Tinh to continue studying, selecting and attracting energy projects aligned with the province's development orientation.
Opening Further Room for Technology-Based and Supporting Industries
Another notable point is the appearance of projects related to supporting industries, mechanical engineering, equipment and technology.
Particularly significant is the Lithium Battery Technology Manufacturing and Trading Investment Project, with total registered capital of USD 275 million. The project opens a new development direction related to battery technology and the energy ecosystem, while also demonstrating that Ha Tinh is capable of attracting industrial projects with higher technology content.
In addition, projects such as the plant for manufacturing, fabricating, processing and installing mechanical products, machinery and machine components, with registered capital of more than USD 10 million; projects for processing and maintaining industrial equipment; the production of steel structural components; and the manufacture and distribution of electrical equipment are adding further links to the supporting industry sector.
If effectively connected with the large-scale projects in the Vung Ang Economic Zone and the industrial parks, this group of enterprises could become the foundation for Ha Tinh to gradually develop an on-site industrial supply chain, narrowing the gap between FDI enterprises and domestic firms.
Expanding the Industrial Space Beyond Vung Ang
Ha Tinh's FDI inflows are also showing a trend of expanding the investment space beyond the Vung Ang Economic Zone.
Of particular note is the Investment, Construction and Business of Infrastructure of North Thach Ha Industrial Park Project (Phase 1) (VSIP Ha Tinh), undertaken by Vietnam Singapore Industrial and Urban Development Joint Stock Company, with registered capital of approximately USD 64.81 million.
The arrival of VSIP Ha Tinh is significant for the development of the province's industrial space. While Vung Ang is a major industrial pole tied to seaports, metallurgy and energy, the new industrial parks can create additional space to attract projects in processing, manufacturing, supporting industries and other suitable production sectors.
This also provides a basis for Ha Tinh to gradually form a network of mutually complementary industrial parks, broadening investors' choice of locations and creating conditions for the formation of industry clusters.

VSIP Ha Tinh

More Than Just Billion-Dollar Projects
Alongside the multi-billion-dollar projects, there are also many small and medium-sized projects operating across a range of fields.
In the processing sector, there is the Phonesack Vietnam Export Wood Processing Plant with registered capital of approximately USD 50 million; the HAN LEI plant producing industrial plywood, wooden flooring and wood accessories for export; along with other wood processing and export product projects.
In the textile and garment sector, Ha Tinh hosts projects such as the Haivina Hong Linh Garment Factory with registered capital of USD 15 million, the APPARELTECH Ha Tinh Export Garment Manufacturing Plant with capital of USD 6 million, and the Gaiwach Ha Tinh International Apparel Factory with capital of USD 2.5 million.
These projects cannot compare in scale with Formosa Ha Tinh or Vung Ang 2 Thermal Power, yet they carry their own significance in diversifying the industrial structure, creating jobs and expanding the network of FDI enterprises in the province.
From Standalone Projects to an Investment Ecosystem
Viewed as a whole, the most notable aspect of Ha Tinh's FDI picture is not simply the total registered capital of approximately USD 16.47 billion, but the increasingly clear formation of a multi-sector investment ecosystem.
There are foundation-building projects such as Formosa Ha Tinh; complementary energy projects such as Vung Ang 2 Thermal Power; projects extending the metallurgical value chain such as the Stainless Steel Manufacturing Plant; projects oriented toward new technology such as Lithium Battery; projects developing industrial park infrastructure such as VSIP Ha Tinh; along with many projects in mechanical engineering, materials, wood processing, textiles and garments, logistics and services.
These projects therefore do not exist in complete isolation but have the capacity to generate demand and markets for one another.
A large-scale factory requires systems for supplying materials, mechanical services, maintenance, transport and logistics. Industrial parks need secondary investors. Secondary investors in turn need suitable service systems and human resources. From this, a new cycle of linkages can be formed, creating a spillover effect far greater than the value of any individual project.
This is precisely the opportunity for Ha Tinh's enterprises to participate more deeply in supply chains, step by step enhancing their production, technological and management capabilities to become suppliers to FDI enterprises.