On the 6^th day of the Lunar New Year, factories in VSIP Nghe An Industrial Park went into production. With professional, sure and strong steps, VSIP projects in Nghe An receive large capital from the world's leading corporations.

VSIP Nghe An 1 has an occupancy rate of 97% of the project

Recently, VSIP 1 Nghe An Industrial Park was honored to receive an Investment Certificate from the leaders of Nghe An province for a huge textile project, the Mega Textile Vietnam Project. The project is being implemented on a total area of more than 51 hectares in the Southeast Economic Zone, with a total project investment of 590 million USD, equivalent to 14,775.9 billion VND.

The goal of the Mega Textile Vietnam Project is to produce all kinds of fabrics, all kinds of knitting, colored yarn, cut semi-finished products, garments, belts, etc. with a capacity of about 67,200 tons/year of all kinds of fabrics; about 10,300 tons/year of all kinds of knitting; about 7,200 tons/year of colored yarn; about 100 million belts/year; about 130 million garments/year; about 2.2 million cut semi-finished products/year.

According to the schedule, by the second quarter of 2025, the Mega Textile Vietnam Project will complete investment procedure preparation; by the second quarter of 2028, phase 1 will be officially put into operation; by the second quarter of 2030, phase 2 will be officially put into operation; and by the second quarter of 2034, phase 3 will be officially put into operation. Once operational, the project will contribute to the State budget and create jobs for more than 15,000 local workers, contributing to promoting the development of the garment industry locally as well as nationwide.

Along with the emergence of the large project Mega Textile Vietnam, the total accumulated investment capital in VSIP Nghe An Industrial, Urban and Service Park - VSIP Nghe An 1 Industrial Park and VSIP Nghe An 2 - Tho Loc Industrial Park up to February 2, 2025 is 3.098 billion USD, of which the capital of secondary investors is 2,653.6 million USD and the capital of VSIP Nghe An Company Limited is 444.5 million USD.

VSIP Nghe An Industrial, Urban and Service Park (VSIP1 Nghe An)

By January 2025, VSIP Nghe An 1 Industrial Park had attracted 55 investment projects (51 investors), with a land lease area of 251.8 hectares, an occupancy rate of about 97%, and a total investment capital of 49,145.6 billion VND (equivalent to 2,063.6 million USD). Of these, 34 investment projects have come into operation, creating initial jobs for about 23,000 workers. There are 7 other projects under construction and the remaining 13 projects have completed investment procedures and are carrying out planning procedures to implement construction.

There are 34 FDI projects (30 investors), with a total investment capital of 46,872 billion VND (equivalent to 1,976.1 million USD) from countries such as Hong Kong, Taiwan, South Korea, Japan, Singapore, and Sweden. It can be said that the world's major technology investors have gathered at VSIP Nghe An.

These are large-scale FDI projects in the fields of electronics, precision mechanics, and garments such as Luxshare-ICT, Everwin Precision Viet Nam, Innovation Precision Viet Nam, An Nam Matsuoka Garment, Gaiwach International Apparel Viet Nam, and Sangwoo Viet Nam. It is expected that in 2025, 7 more projects will come into operation here.

Currently, VSIP Nghe An 1 Project still has 7.89 hectares of unfinished land clearance/out of the total project area of 750 hectares (including 0.18 hectares of industrial park land and 7.71 hectares of urban area land), affecting the progress of site clearance and technical infrastructure construction. The investor wishes to speed up the site clearance compensation and relocation of the power line system to soon hand over the site for the projects.

Urgently clearing the site of Tho Loc Industrial Park Project

At Tho Loc Industrial Park Project, up to now, 1 investor has been granted an Investment Registration Certificate, with an area of 51.2 hectares, a total investment of 590 million USD and currently there are about 10 potential secondary investors (land fund demand of about 150-200 hectares) who have been working to learn and implement investment, of which, 3 investors are preparing to sign an investment Memorandum of Understanding with an area of more than 70 hectares, with a total expected investment of about 500 million USD.

Nghe An PPC, Southeast Economic Zone Management Board and related departments, committees, branches and localities have provided maximum support to VSIP Nghe An Company Limited in completing site clearance and handing over clean site at Tho Loc Industrial Park Project to the investor, supporting quick investment registration procedures to attract investors to VSIP Nghe An Industrial Park.

In addition, authorities at all levels have periodically organized working sessions and made reports updating the situation of difficulties, problems and recommendations and proposals of VSIP Nghe An Company Limited in the process of investment, construction and development of the industrial park in order to promptly provide close and practical instructions and support in handling the problems of investors.

Currently, there are still more than 100 hectares of land clearance/out of the total 500 hectares of the project. Meanwhile, many projects are eagerly waiting for "clean" land to implement the project. In addition, the investor's demand for land for leveling is very large and needs to be met, thereby affecting the investor's investment progress as well as the progress of secondary investors. VSIP Nghe An Company Limited always hopes that the locality will pay close attention to this issue.

Tran Chau

Source: Nghe An newspaper (February 3, 2025)