Vingroup is set to expand its footprint in Hà Tĩnh with a massive 21.4 trillion VND ($840 million) investment in an EV supporting industry factory complex at the Vũng Áng Economic Zone.
According to Hà Tĩnh Economic Zone Authority, the project has received official approval and will cover 132 hectares across designated plots CN4-1 and CN4-2 in the zone’s central industrial area.
Key project details
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Total investment: 21.4 trillion VND ($840 million)
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Equity contribution: 3.21 trillion VND (15%) from Vingroup subsidiary Vinhomes Industrial Park Hà Tĩnh
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Project scope: Leasing factories and infrastructure for EV component and supporting industry manufacturers
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Timeline: Construction begins late 2025, operational by June 2027
The facility will provide state-of-the-art infrastructure and supporting works to attract domestic and foreign suppliers to join Vietnam’s fast-growing electric vehicle (EV) supply chain.
Boost for Hà Tĩnh’s economy
Once operational, the project is expected to drive further investment into the province, strengthen its industrial base, and create new jobs.
The development comes after a series of large-scale Vingroup projects in Hà Tĩnh, including:
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VinES EV battery plant (13 hectares, operational since mid-2023)
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VinFast Hà Tĩnh EV factory (360,000 m², inaugurated June 2025 after just seven months of construction)
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Planned 40 trillion VND deep-sea port and logistics hub
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A Kỳ Ninh coastal resort project in Kỳ Anh
Vũng Áng: Vietnam’s industrial growth hub
Established in 2006, the Vũng Áng Economic Zone spans over 22,000 hectares, hosting around 150 investment projects and employing nearly 20,000 workers. Major developments include the Formosa Hà Tĩnh steel complex and Vũng Áng I thermal power plant.
In the first half of 2025 alone, Hà Tĩnh attracted 20 new investment projects (including two FDI), tripling registered capital compared to the same period last year.
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Source: Vietnam Insider