Prime Minister Urges Vingroup-Led Consortium’s $7.5 Billion Plant to Achieve This Goal

On September 26th, in Hai Phong, Prime Minister Pham Minh Chinh attended the groundbreaking ceremony for the infrastructure development project of Tan Trao Industrial Zone (Phase 1) and the Hai Phong LNG Thermal Power Plant project. The event was also attended by former General Secretary Nong Duc Manh, former President Nguyen Minh Triet, former National Assembly Chairwoman Nguyen Thi Kim Ngan, former Standing Member of the Secretariat Phan Dien, along with Party Central Committee members and leaders from various ministries, sectors, and local authorities.

Organized by the Hai Phong People’s Committee in collaboration with Vingroup, the event held significant and practical meaning, celebrating the 1st Party Congress of Hai Phong City for the 2025-2030 term.

Addressing the event, Prime Minister Pham Minh Chinh emphasized that Vietnam is pursuing two centennial goals (by 2030 and 2045) amidst a challenging context where difficulties outweigh opportunities. The regional and global situation is rapidly evolving, complex, and unpredictable. In this context, the Prime Minister stressed the need to strengthen ourselves, develop rapidly and sustainably, maintain independence, autonomy, and strategic proactiveness in our development.

The Prime Minister highlighted the significance of the two projects in the context of Vietnam’s efforts to restructure the economy, innovate growth models, and promote green economy, digital economy, science, technology, and innovation. These projects will contribute to industrial development, attract selective foreign investment with advanced technology, modern management, and high-quality human resource training; develop green energy, and respond to climate change.

Commending Hai Phong for its proactive implementation of the Party’s policies, investment attraction, and resource mobilization in key areas, the Prime Minister requested ministries and sectors to continue supporting Hai Phong in upholding the spirit of “saying and doing,” “no saying no, no saying difficult, no saying yes without action,” especially in land clearance, procedure implementation, and creating favorable conditions for businesses with a focus on the common good, preventing corruption, negativity, and waste.

The Prime Minister urged project investors to embrace the “fast, green, sustainable” development philosophy, fulfill commitments, accelerate project progress while ensuring quality, technical standards, aesthetics, safety, environmental hygiene, and job creation for the people.

The Prime Minister expressed his hope that the Tan Trao Industrial Zone project would be implemented swiftly, attracting selective investment and high technology, while the LNG thermal power project would gradually transfer technology and strive for early completion, one year ahead of schedule.

Two Projects with a Total Investment of 182 Trillion VND in Hai Phong

The infrastructure development project of Tan Trao Industrial Zone is invested by Vinhomes Hai Phong Industrial Zone Investment Joint Stock Company. Covering an area of nearly 227 hectares in Kien Hung and Nghi Duong communes, the project’s Phase 1 has a total investment of over 4,000 billion VND.

The Tan Trao Industrial Zone will be constructed over five years, from Q2/2025 to Q2/2030. Upon completion, it will become a major hub for new industries and technologies with advanced technical infrastructure, attracting multi-sector investments in electricity, electronics, telecommunications, pharmaceuticals, supporting industries, new materials, clean energy, and renewable energy. Notably, it will gather tens of thousands of high-quality workers from across the country and internationally.

With its scale, location, and synchronized development orientation, Tan Trao Industrial Zone will be a new growth driver, enhancing Hai Phong’s investment appeal and becoming a model industrial center nationwide.

Meanwhile, the Hai Phong LNG Thermal Power Plant project, located within Tan Trao Industrial Zone, is invested by a consortium of Vingroup – VinEnergo Energy Joint Stock Company, covering nearly 100 hectares with a total investment of over 178,000 billion VND.

The plant will be constructed over five years and is expected to commence operation by the end of 2030. It will supply approximately 9.6 billion kWh/year (Phase 1) and 19.2 billion kWh/year (Phase 2), meeting the electricity demand for the entire Tan Trao Industrial Zone, supplementing the national grid capacity, supporting system regulation, and reducing reliance on traditional energy sources.

With a designed capacity of 4,800 MW (Phase 1: 1,600 MW, Phase 2: 3,200 MW), it will be Vietnam’s largest thermal power plant according to the Government’s Power Master Plan VIII and among the world’s leading LNG-based power plants.

Beyond their sectoral contributions, these two projects will have a broader socio-economic impact, driving the development of the southern coastal economic zone in Hai Phong, promoting the city’s potential and strengths, attracting domestic and foreign investors, and creating new growth momentum for the city.

Upon completion, the projects will significantly increase industrial output, contribute to GRDP growth and budget revenue, and create thousands of jobs for workers.