The Thanh Hoa-based Nghi Son Refinery is scheduled to produce its first batch of commercial products in May, as announced on February 28.
Nghi Son oil refinery complex
After five years of construction, Vietnam’s second oil refinery is
now ready to commence operations and will begin to receive crude oil for
refinement.
Once operational, the facility will help to ensure Vietnam’s
energy security and contribute VND10 trillion (US$440 million) to the budget of
the north central province, the management estimated.
Turki Alajmi, general director of the refinery complex, said that
this project is of strategic importance as it will meet Vietnam’s
growing demand for refined oil products which are necessary for its
industrialisation drive.
Construction of the complex commenced in 2013 with total capital
of over US$9 billion.
The project is jointly invested in by four contractors, namely
PVN, Kuwait Petroleum International, Idemitsu Kosan and Mitsui Chemicals, which
hold 25.1%, 35.1%, 35.1% and 4.7% respectively.
The facility has an annual capacity of producing 10 million tonnes
of refined oil products.
Source: NDO
Hoa Binh province’s economy posted an impressive Gross Regional Domestic Product (GRDP) growth rate of 12.67% in the first quarter of 2025, representing a 12.76% year-on-year increase, the highest rate recorded since the beginning of the current tenure, according to the provincial Statistics Office. This robust growth reflects years of strategic groundwork and sets a strong foundation for the province’s annual growth target of over 10%.
With a focus on cash crop farming with science - technology application and brand building, Lac Thuy district is gradually increasing production value, improving people's life quality, and laying the foundation for sustainable socio-economic development.
In recent years, the economic development model "Hoa Binh Earthworm Farm” run by Mr. Bui Van Dang in Co Giua Hamlet, My Thanh Commune (Lac Son district) has not only brought stable economic value but it is also environmentally friendly, helping to protect and reduce pollution, contributing to the construction of a green and sustainable agriculture.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
