Investment 'boom' in North Central Coast

According to Nikkei Asia, the North Central region is witnessing an investment boom. Quang Tri is an attractive province because it "can easily attract talent and a new airport under construction will help improve the quality of transportation here".

Cua Hoi Bridge crosses Lam River, contributing to the socio-economic development of the Southern Nghe An - Northern Ha Tinh region. (Source: Nhan Dan Newspaper)

In addition to Quang Tri, the North Central region also includes five provinces, including Thanh Hoa, Nghe An, Ha Tinh, Quang Binh and Thua Thien Hue. Traffic between these provinces and Hanoi has been improved thanks to the arterial road.

According to government data, average monthly incomes in the north central region are about 30% to 40% lower than those around Hanoi or Ho Chi Minh City. The lower incomes suggest room for growth in the region. The textile industry has long driven growth in the south, while the north has been buoyed by investment from South Korean companies since the 2010s.

In 2023, foreign investment in the North Central region will reach about 2 billion USD, up 39% compared to the same period in 2022. Nghe An is a "magnet" attracting a record investment source - 1.6 billion USD. Foxconn, a major partner of Apple, attracted attention with its plan to open a new factory in Nghe An in November 2024.

Foxconn’s decision prompted other companies in Apple’s supply chain to follow suit. Radiant Opto-Electronics (headquartered in Taiwan, China) also plans to set up a factory in Nghe An.

Developments in northern and central Vietnam could impact the government's plans for a North-South high-speed railway project connecting Hanoi and Ho Chi Minh City, which is targeted for completion by 2045.

Source: https://baoquocte.vn/bung-no-dau-tu-o-bac-trung-bo-258688.html