The project is expected to create jobs for more than 250 workers and contribute around VND 600 billion to the state budget annually, helping stabilize the local economy in the long term.

Attending the event were Ito Naoki, Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam; Nguyen Thanh Binh, Chairman of the Vietnam Association of the Elderly; Nguyen Hoang Long, Deputy Minister of Industry and Trade; along with representatives of central ministries and agencies.

From Ha Tinh province, participants included Nguyen Duy Lam, member of the Party Central Committee and Secretary of the provincial Party Committee; Nguyen Hong Linh, Standing Deputy Secretary of the provincial Party Committee; Phan Thien Dinh, Chairman of the provincial People’s Committee; and leaders of local departments and agencies.

The Vung Ang II Thermal Power Plant is one of the key projects in Ha Tinh province, with a total investment of USD 2.2 billion under the build-operate-transfer (BOT) model. The project is a joint venture between Japan and the Republic of Korea, in which 60% of shares are held by Japanese companies led by Mitsubishi Corporation, and 40% by Korea Electric Power Corporation.

Funding for the project has been arranged by the Japan Bank for International Cooperation (JBIC), the Export-Import Bank of Korea (KEXIM), and Japanese commercial banks. This broad cooperation reflects strong confidence from the international community in Vietnam’s energy sector and its development potential.

Once operational, the project will provide stable employment for more than 250 staff and workers, and is expected to contribute approximately VND 600 billion annually to the state budget, thereby supporting long-term economic stability in the area. The plant will also play an important role in ensuring a stable electricity supply, particularly in addressing power shortages in northern Vietnam, with a capacity to supply about 3.3% of the country’s total electricity demand.

At the ceremony, Deputy Minister Nguyen Hoang Long affirmed that the project holds special significance as it is listed among key national energy projects. Throughout its implementation, the Ministry of Industry and Trade has proactively coordinated with investors and local authorities to promptly address difficulties and obstacles, ensuring the project’s progress.

“The Ministry of Industry and Trade will continue to accompany the Vung Ang II Thermal Power Plant and Ha Tinh province in its operation to ensure stability and safety, thereby contributing to local socio-economic development and strengthening national energy security,” he emphasized.

Speaking at the event, Phan Thien Dinh, Chairman of the provincial People’s Committee, stated that the completion and operation of the Vung Ang II Thermal Power Plant mark an important milestone, affirming the growing role of the Vung Ang Economic Zone and Ha Tinh province as an energy hub.

Ha Tinh has identified industrial development as a key economic pillar, aiming to become a modern, comprehensive, and sustainable industrial province by 2050, and a growth pole of the north central region and the country.

The inauguration of the Vung Ang II Thermal Power Plant is not only a source of pride for the achievements made, but also a strong affirmation of Ha Tinh province’s commitment to continuing to attract investment and to creating the most favorable conditions for successful project implementation in the locality.