Once a quiet midland province, Thai Nguyen has rapidly transformed into a hotspot for foreign investment - particularly with the presence of tech giant Samsung - resulting in a threefold increase in its gross regional domestic product (GRDP) and a leap into the top ranks of Vietnam’s exporters.

Located in a midland mountainous region with a natural area of 352,200 hectares, Thai Nguyen has become a “magnet” for major investors, or so-called “eagle” enterprises, such as Samsung and Masan.

This transformation has been attributed to a transparent investment environment and competitive advantages in geography, infrastructure, costs, and workforce availability.

In 2023 alone, Samsung Group injected another USD 2 billion to build a High-Tech Complex in Thai Nguyen. To date, Samsung’s total investment in the province has reached approximately USD 7.5 billion.

According to the Thai Nguyen Provincial People's Committee, as of January 2025, the province had 223 valid foreign direct investment (FDI) projects with total registered capital of around USD 11.3 billion.

This influx of investment has significantly boosted the province’s economic scale, placing it among Vietnam’s top regions for both GRDP and export performance.

Data from the General Statistics Office shows that Thai Nguyen’s GRDP in 2015 was only VND 66.356 trillion (approximately USD 2.67 billion). By 2024, that figure had surged to VND 162.105 trillion (around USD 6.53 billion), ranking 15th nationwide.

The province has maintained a steady GRDP growth trajectory for the past decade. From 2015 to 2024, GRDP increased by 144.3%, nearly 2.5 times.

Similarly, Thai Nguyen’s per capita GRDP rose from VND 51 million (approx. USD 2,050) in 2015 to VND 119 million (around USD 4,780) in 2023.

Over 10 years, the per capita GRDP increased by VND 68 million (roughly USD 2,730), averaging an annual increase of VND 6.8 million (USD 270), equivalent to a 133.3% overall rise. With this momentum, Thai Nguyen consistently ranks among provinces with relatively high per capita GRDP.

In terms of exports, Thai Nguyen has been among the top-performing provinces over the past six years.

In 2019, its export value reached nearly USD 27.8 billion, placing it among the top three exporting provinces or cities and accounting for 10.5% of Vietnam’s total export turnover.

Though exports dropped to USD 24.4 billion in 2020, the province quickly regained growth in 2021, hitting a record USD 29.09 billion.

In 2022, exports remained steady at USD 29.88 billion but slipped to 4th place, representing 10.3% of the national total.

In 2023, export value dropped to USD 25.69 billion but recovered to USD 27.34 billion in 2024, ranking Thai Nguyen 6th among the top export localities.

In a surprising surge, the first two months of 2025 saw Thai Nguyen’s exports soar to USD 5.6 billion, placing it third nationwide, just behind Ho Chi Minh City and Bac Giang.

The province’s domestic budget revenue has also risen steadily over the past decade, from nearly VND 5.9 trillion (USD 238 million) in 2015 to VND 17.567 trillion (USD 710 million) in 2023 - almost a threefold increase.

Tam An