Nam Dinh Province Announces It Will Develop Two New Industrial Clusters

The Red River Delta province of Nam Dinh is set to expand its industrial landscape with the establishment of two new industrial clusters: Thang Cuong and My Thuan. These clusters aim to bolster the province’s industrial diversification, attracting investment in sectors ranging from pharmaceutical production to automotive parts and food processing.

Ambitious industrial growth plans

Both clusters will prioritize the attraction of large enterprises utilizing modern, environmentally friendly technologies, aligning with Nam Dinh’s vision for sustainable industrial development.

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Under the Nam Dinh province Master Plan for 2021–2030, with a vision toward 2050, the province aims to establish 54 industrial clusters spanning 5,969 hectares by 2030. Beyond this, further expansions are planned to increase the total industrial land area to 8,703 hectares by 2050.

These initiatives reflect Nam Dinh’s commitment to becoming a hub for diverse and innovative industries, strengthening its position in Vietnam’s economic landscape.

Thang Cuong Industrial Cluster

Located across the Yen Thang and Yen Cuong communes in Y Yen district, the Thang Cuong Industrial Cluster will span 75 hectares. The cluster will cater to various industries, including mechanical engineering, supporting industries, food processing, pharmaceutical production, electronics assembly, and automotive parts manufacturing.

The project, led by Bateco Thang Cuong Joint Stock Company, comes with a total investment of about VND 1.03 trillion (approx. US$41.2 million). Construction is expected to be completed within 24 months from the handover of land.

My Thuan Industrial Cluster

Situated in My Thuan commune of Nam Dinh city, the My Thuan Industrial Cluster will focus on high-tech mechanics, automotive and motorcycle assembly, electronic production, and wood processing, among other sectors.

Thinh Vuong My Loc Joint Stock Company is the designated infrastructure developer, with an investment of over VND 929 billion. Like its counterpart, this project is slated for completion within 24 months of the land transfer.

A burgeoning economic hub in Vietnam

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Nam Dinh’s economy expanded at a notable pace, with the gross regional domestic product (GRDP) rising by 10.35 percent. Industrial production saw a 14.5 percent increase, underscoring the province’s growing manufacturing capabilities. Retail sales of goods and services surged by 13.8 percent, while export turnover rose by an impressive 30.8 percent, highlighting the province’s enhanced global trade integration.

This success can be attributed to Nam Dinh’s proactive investment promotion strategies, which prioritize high-tech and sustainable industrial projects. By mid-November 2024, the province had approved 73 new and adjusted investment projects, comprising 41 domestic ventures and 32 foreign direct investment (FDI) initiatives. These projects amassed a total registered capital of VND 9.303 billion, showcasing the region’s attractiveness to investors.

Ongoing industrial developments

Nam Dinh’s strategic focus on high-value, green, and sustainable industries is evident in its recent large-scale projects. Two significant investments in the province’s industrial parks have laid the groundwork for sustained industrial growth:

1. Xingyu Vietnam Safety Gloves Production Project
   Located in the expanded Bao Minh Industrial Park, this project represents a US$84.5 million investment by the Xingyu Group (Singapore). With a production capacity of 300 million pairs of labor protection gloves and 10 million pairs of medical gloves annually, the facility is set to commence operations in December 2025. This initiative will not only enhance the province’s industrial output but also bolster its reputation as a hub for advanced manufacturing.
2. XGIMI Technology Projector Manufacturing Project
   Phase I of this US$13 million investment in My Thuan Industrial Park is slated to begin operations by the third quarter of 2026. With an annual capacity of 400,000 projectors, this project underscores Nam Dinh’s ambition to attract cutting-edge technology and high-value production capabilities.

Vision for 2025 and beyond

Nam Dinh province is committed to maintaining its growth momentum by prioritizing industries that align with modern technology, high added value, and sustainability principles. Key initiatives include:

• Enhanced investment attraction: Continued focus on green and advanced industries that contribute significantly to provincial revenue and development of new industrial clusters.
• Trade and export promotion: Creating favorable conditions for businesses to expand export markets and enhance product consumption.
• Tourism development: Leveraging the province’s cultural and natural strengths to develop tourism sustainably.

The groundwork laid in 2024, coupled with these forward-looking strategies, positions Nam Dinh as a model of economic transformation. Its balanced approach to industrial growth, sustainable development, and global trade integration ensures its continued ascent as a key economic player in Vietnam.

Summary

Nam Dinh province has solidified its position as a burgeoning economic hub in Vietnam, with its socio-economic performance in 2024 surpassing expectations. All 14 socio-economic targets for the year were achieved or exceeded, reflecting a stable and progressive development trajectory. Key indicators such as GRDP growth, industrial production, retail sales, and export turnover paint a promising picture of the province’s economic resilience and dynamism.

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