Part 2: Future investment and challenges

Under a recently approved resolution revising the provincial master plan for 2021-2030, with a vision to 2050, Ha Tinh plans to expand the Vung Ang Economic Zone from 22,781 hectares to nearly 73,000 hectares.

After nearly 20 years of development, the Vung Ang Economic Zone has become the growth engine of Ha Tinh, contributing more than 25 percent of the GRDP, over 95 percent of the import-export turnover, and around 60 percent of the budget revenue.

The expansion of the Vung Ang Economic Zone aims not only to provide additional land for industrial, energy, and logistics projects but also to create room for new functional zones linked to the Vung Ang-Son Duong deep-water port complex, supporting the development of a major industrial and maritime services hub in Vietnam's North Central region.

Another highlight is that the province is proposing that the Government allow the construction of the Vung Ang Free Trade Zone when conditions are fully met. If approved, this will be an important resource to attract multinational corporations in manufacturing, trade, logistics, and seaport services, while enhancing Vung Ang's role as an international cargo transit hub.

In parallel with expanding development space, Ha Tinh invests in transport infrastructure aiming at regional connectivity. 

Along with the operational North-South Expressway, the coastal road and the transport system within the Vung Ang Economic Zone continue to be perfected, creating connectivity among industrial parks, seaports, and national traffic axes.

In the long term, Ha Tinh is promoting the Vung Ang - Tan Ap - Mu Gia railway connecting to Laos, studying the Vung Ang - Cha Lo Expressway, and proposing the construction of the Hong Linh - Cau Treo International Border Gate Expressway. 

When these projects are deployed, Vung Ang will not only be an import-export gateway for Ha Tinh but will also become a cargo transit hub for Laos and Northeastern Thailand to the sea.

Nguyen Van Tuan, deputy head of the Economic and Budget Committee of the Provincial People's Council, said: "Alongside the industrial engine from the Vung Ang Economic Zone, Ha Tinh is developing a green economy based on three pillars: sustainable forestry, high-value agriculture, and eco-tourism. These complement each other, creating more growth momentum while targeting sustainable development.

“The clearest evidence is the revenue of over 159 billion VND from the forest emission reduction payment mechanism. This milestone shows that forest resources do not just serve pure conservation purposes but have been transformed into economic value, opening new development space for the locality."

Ha Tinh Chair Phan Thien Dinh said the locality will continue to improve the investment environment, deploy a "green lane" mechanism for key projects, accelerate planning  to expand the Vung Ang Economic Zone, realize the Eco-Industrial Center Scheme, and invest in works connecting with the Cha Lo border gate, Cau Treo International Border Gate, the North-South Expressway, and National Highway 1.

The human resource riddle

Despite leading the country in GRDP growth rate in the first half of the year, Ha Tinh still has plenty of room for development if resources continue to be unlocked.

Alongside existing projects, quite a few delayed projects, underutilized land, and marine economic potential that has not been fully converted into economic value are "gaps" that need to be filled soon. 

Resolving long pending projects, improving land-use efficiency, and developing the marine economy, logistics, and seaport services will create additional growth space while diversifying development drivers and reducing dependence on only a few large-scale industries and enterprises.

Ha Tinh also faces pressure regarding human resources. For many years, the locality had a high rate of labor migration, while the industrialization process is rapidly increasing the demand for technical and skilled labor. This poses a requirement to attract labor to return, upgrade vocational training quality, and create an appeal for high-quality human resources.

Solving the human resource riddle will be one of the decisive factors for the production expansion of existing projects, as well as Ha Tinh's attractiveness to new investment capital flows.

Thien Luong - Duy Tuan