The Ha Tinh Economic Zone Authority on Saturday issued a decision granting in-principle approval for the project and confirming Vinhomes Ha Tinh Industrial Park JSC as investor.

The 132-hectare project will provide infrastructure and facilities for companies manufacturing components and parts for the EV sector.

Total investment is estimated at VND21.4 trillion ($811.14 million), of which the investor will contribute VND3.21 trillion ($121.67 million), with the remainder financed through loans from credit institutions.

The project will have a 70-year operational term from the date of in-principle approval and investor confirmation.

Key milestones include achieving land transfer agreement and planning-construction permits by March 2026; building technical infrastructure and factories by December 2026; and finishing construction and commissioning by June 2027.

In recent years, Vingroup has invested in many large-scale projects in Ha Tinh. At the end of 2021, it built the 13-hectare VinES EV battery plant at the Vung Ang Economic Zone, beginning deliveries for the VF6 model in mid-2023.

In late June, Vingroup’s EV subsidiary VinFast inaugurated a 36-hectare EV factory at the zone (VinFast Ha Tinh), its second in Vietnam after the one in Hai Phong city, northern Vietnam.

Established in 2006, the Vung Ang Economic Zone spans over 22,000 hectares and hosts around 150 investment projects, providing jobs for nearly 20,000 workers.

In H1/2025, Ha Tinh attracted 20 new investment projects, including two FDI projects. Compared with the same period last year, the number of projects rose by three and total registered capital tripled.

Ha Tinh’s economic and industrial zones host 198 active investment projects to date.