Ha Tinh
Formosa $10B steel (tariff pressure) + VinFast EV pivot—200K vehicle capacity, 7x battery production growth, Vung Ang 56% of provincial revenue.
Ha Tinh hosts Vietnam's largest FDI steel operation—now pivoting to EVs and batteries. Formosa Ha Tinh's $10 billion steel complex anchored Vung Ang Economic Zone, contributing 56% of provincial budget revenue (VND 48,500 billion, 2021-2025) and $25.1 billion in exports. But Q1 2025 saw steel production drop 10% and revenue decline $100 million as EU anti-dumping duties (12.1%) and US steel tariffs (25%) squeezed margins.
VinFast inaugurated its Ha Tinh electric vehicle plant in June 2025 (200,000 vehicles/year capacity, targeting 22,000 by year-end). VinES and VinES-Gotion lithium battery plants operate at high capacity; H1 2025 produced 14,000+ battery packs (7x year-on-year) and 9.4+ million cells. Vinmetal's VND 79,986 billion steel plant (5 million tons/year) commenced December 2025.
The Vung Ang Economic Zone diversifies from steel dependency into electric vehicles and batteries. Mining grew 22.67%; fiber production increased 29.87%. Foreign investors receive 10% CIT for 15 years plus 4-year exemption. By 2026, Ha Tinh tests whether EV manufacturing can offset steel sector headwinds from trade wars.