THE HANOI TIMES — Vinhomes Ha Tinh Industrial Park Investment JSC, a subsidiary of conglomerate Vingroup, has secured approval to develop a VND21.4 trillion (US$811 million) project for electric vehicle (EV) supporting industries in the Vung Ang Economic Zone.

According to the Ha Tinh Economic Zone Authority, the project will cover more than 132 hectares, providing rental factories and supporting infrastructure for EV parts manufacturing.

Of the total investment, Vingroup will contribute VND3.2 trillion ($121.3 million) or 15% of the project's capital, with the remainder financed through bank loans.

Construction will start at the end of 2025 and is slated for completion by June 2027, with a 70-year operational term.

Ha Tinh’s Economic Zone Authority said that the factory will attract more EV supporting industry enterprises and serve as a growth engine for green and modern industry, enhancing the province’s role in sustainable development and global integration.

Established in 2006, the Vung Ang Economic Zone spans more than 22,000 hectares and now hosts about 150 projects, generating nearly 20,000 jobs.

The landmark projects located in the economic zone include the Formosa Ha Tinh steel and port complex and the Vung Ang I thermal power plant.

In the first half of 2025, Ha Tinh drew 20 new investment projects, including two foreign direct investment (FDI) ventures. Compared to the same period last year, this marked three additional projects and a threefold increase in registered capital.

Vingroup has already made significant investments in the central coastal province of Ha Tinh.

In late 2021, the group broke ground on the VinES battery plant, which began supplying batteries for the VF6 model in mid-2023.

In June 2025, VinFast inaugurated a 360,000-square-meter EV plant after seven months of construction, making it one of the region’s most advanced facilities.

Beyond automotive, Vingroup is also investing in strategic infrastructure and services in Ha Tinh, including a VND40 trillion ($1.5 billion) seaport and logistics hub and the Ky Ninh tourism and resort complex.