As Thanh Hoa aims to achieve double-digit GRDP growth in 2026 and the coming years, accelerating the implementation of key industrial projects has become a top priority. With 40 large-scale industrial projects worth nearly VND 130.1 trillion currently under development, many have entered the equipment installation phase and are preparing for commercial operation. These projects are expected to significantly expand production capacity, attract investment, create jobs, and strengthen the province’s long-term economic growth.
40 Key Industrial Projects Worth Nearly VND 130.1 Trillion
Thanh Hoa is focusing its resources on accelerating 40 strategic industrial projects across multiple sectors, including chemicals, steel manufacturing, textiles, footwear, advanced materials, and supporting industries.
With a combined investment of nearly VND 130.1 trillion, these projects are expected to:
- Expand industrial production capacity.
- Create thousands of new jobs.
- Attract both domestic and foreign investment.
- Increase provincial budget revenues.
- Support sustainable economic growth.
These investments are considered a crucial foundation for transforming Thanh Hoa into one of North Central Vietnam’s leading industrial hubs.
Duc Giang – Nghi Son Chemical Complex Nears Completion
One of the province’s flagship projects is Project No.1 – Duc Giang–Nghi Son Chemical Complex, located in Dong Vang Industrial Park within Nghi Son Economic Zone.
Project Highlights
- Total investment: VND 2.4 trillion
- Area: 30 hectares
- Production capacity: 151,000 tons of chemical products annually
- Construction progress: Approximately 85% completed
- Trial operation: Fourth Quarter (Q4) 2026
- Commercial operation: Early 2027
Once operational, the plant will manufacture a wide range of industrial and consumer chemicals that Vietnam currently imports, helping reduce import dependence.
The project is expected to:
- Create approximately 300 jobs.
- Contribute around VND 100 billion annually to the provincial budget.
Nghi Son Steel Rolling Plant No.2 Speeds Up Installation
Another major project entering its final stage is Production Line No.3 of Nghi Son Steel Rolling Plant No.2.
The project features:
- Designed capacity: 1.6 million tons of rolled steel per year.
- Technology: DANIELI (Italy), one of the world’s leading steel rolling technologies.
According to the project schedule:
- Trial operation is expected in Q4 2026.
- Commercial steel production will begin in early 2027.
The project will significantly strengthen Vietnam’s domestic steel production capacity, supporting construction, engineering, and manufacturing industries.
Seventeen Industrial Projects Scheduled for Completion in 2026
Under Thanh Hoa Provincial People’s Committee’s action plan, 17 industrial projects are expected to become operational during 2026.
Representative projects include:
- Bilion Textile Factory
- Phase 2 of Miza Nghi Son Packaging Paper Factory
- Thach Dinh Footwear Factory
- Ngoc Lac Footwear Factory
- Thinh Vuong Garment Factory
- Outdoor Gear Sports Equipment Factory
- Kim Torch Vietnam Advanced Materials Factory
- Makoto Footwear Factory
- Viet Nhat Fertilizer Factory
- Winner Footwear Accessories Factory
- Bac Hoang Hoa Foam Factory
- Maple Footwear Factory
Several additional large-scale industrial projects are also expected to be completed during the first months of 2027.
Industry Continues to Be the Main Driver of GRDP Growth
According to provincial statistics, Thanh Hoa’s GRDP grew by 7.21% during the first half of 2026.
The industrial sector alone contributed 4.11 percentage points, accounting for approximately 57% of the province’s overall economic growth.
This confirms that industrial development remains the province’s most important growth engine.
Experts believe that bringing new industrial projects into operation on schedule will:
- Increase industrial output.
- Expand the provincial economy.
- Improve competitiveness.
- Generate stable fiscal revenues.
- Stimulate the development of supporting industries and services.
Manufacturing Remains the Core Growth Sector
Currently, the manufacturing and processing industry accounts for approximately 30.02% of Thanh Hoa’s economic structure.
To achieve the province’s double-digit GRDP target in 2026, the industrial sector needs to grow by approximately 22.18% during the second half of the year, resulting in an annual industrial growth rate of 17.78%.
Although ambitious, this target is considered achievable if major industrial projects are completed and commissioned as scheduled.
Modern Infrastructure Supports Industrial Expansion
Besides accelerating project implementation, Thanh Hoa continues investing heavily in infrastructure to support industrial development.
Priority areas include:
- Stable electricity supply.
- Reliable water infrastructure.
- Regional transportation connectivity.
- Industrial park infrastructure.
- Industrial cluster development.
At the same time, the province is actively attracting large-scale, high-tech, and high-value-added investment projects to improve the quality of future economic growth.
Strong Outlook for Thanh Hoa’s Industrial Development
As numerous industrial projects begin operations from late 2026 through early 2027, Thanh Hoa will gain significant new production capacity, helping to:
- Expand industrial output.
- Offset production fluctuations at Nghi Son Refinery during maintenance cycles.
- Increase industrial value-added.
- Attract more suppliers and manufacturers.
- Strengthen long-term sustainable economic development.
Supported by its strategic location, expanding industrial land, the Nghi Son Economic Zone, and an increasingly attractive investment environment, Thanh Hoa is steadily establishing itself as one of Vietnam’s emerging industrial centers.
Conclusion
The acceleration of 40 key industrial projects with a combined investment of nearly VND 130.1 trillion is laying a solid foundation for Thanh Hoa’s economic growth in 2026 and beyond. From chemicals and steel manufacturing to textiles, footwear, and supporting industries, these projects will not only expand production capacity but also enhance competitiveness, attract new investment, create employment opportunities, and reinforce the province’s position as one of Vietnam’s fastest-growing industrial hubs.
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