Deputy Prime Minister Tran Hong Ha has approved the investment policy for construction and trading of infrastructure at Vinhomes Vung Ang Industrial Park (IP) in central Ha Tinh province.

Its total investment capital is estimated at over VND13.27 trillion ($521 million).

The IP covers 964.84 ha at Vung Ang Economic Zone.

Construction is scheduled to last through the fourth quarter of 2030.

The IP is specialized in production of automobiles and components. It is a new kind of IP that is encouraged for development following the Government Decree No. 35/2022.

It will be invested by Vinhomes, a subsidiary of Vietnam’s largest listed conglomerate Vingroup.

Ha Tinh currently has two economic zones, three IPs and 21 industrial clusters. The Vung An economic zone covers over 22,700 ha and is one of eight key groups of economic zones of the country.

The province has more than 1,500 domestic investment projects with a total investment capital of over VND145 trillion ($5.69 billion) and 72 FDI projects with a total investment capital of over $16.2 billion.