Hung Yen - From a land of traditional crafts to a new growth hub
The adjustment of the provincial planning for the period 2021-2030, with a vision to 2050, along with the orientation to form a free economic zone, high-tech zones, and the development of industrial parks and clusters, is opening up new growth potential for Hung Yen.
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| Workers during a working shift at a packaging factory in the northern province of Hung Yen. (Photo: VNA) |
Planning paves the way for new development spaces
Planning plays a crucial role in shaping vision, establishing drivers, and organizing resources for long-term development. For Hung Yen, it is also an important foundation to effectively exploit potential and advantages, creating connections between industrial development, transportation infrastructure, trade, services, and the maritime economy.
Recently, the province has completed the adjustment of the provincial planning for the period 2021-2030, with a vision to 2050; simultaneously, it has submitted the proposal for a free economic zone and the regulations for a high-tech zone. These steps demonstrate proactive efforts to prepare the necessary conditions to expand development space, creating potential to attract large-scale, high-tech, and high-value-added projects.
Along with the overall planning, Hung Yen focuses on concretizing development orientations through the formation of new industrial parks and clusters, gradually completing infrastructure systems, and creating land reserves to attract investment. The province has newly established Tan Dan Industrial Park, Industrial Park No. 8, Industrial Park No. 10, and four industrial clusters including Hai Trieu, Viet Bac, Do Luong, and Dong Do.
Notably, land clearance is identified as one of the key tasks to quickly bring the planning into practice. Solutions to remove difficulties, accelerate land clearance, and facilitate project implementation have proven effective. To date, the province has cleared over 1,000 hectares, forming a clean land fund to attract investment, while also accelerating the commencement of many key industrial park, industrial cluster, and transportation projects.
The comprehensive preparation of planning, land reserves, and infrastructure is creating conditions for Hung Yen to transform its advantages into real competitive capacity. Industrial development continues to be identified as one of the important pillars, associated with the requirement to improve the quality of investment capital and gradually form a modern production base.
This orientation is being demonstrated through a series of large-scale projects being initiated and implemented. Notable projects include Van Giang Industrial Park, Lien Ha Thai Industrial Park (Green iP-3), the investment and business infrastructure construction project of Tho Hoang Industrial Park, Industrial Park No. 10, the investment project of Industrial Park No. 15, Da Loc Industrial Cluster, and Lac Dao Industrial Cluster.
Besides industrial infrastructure, the province is also promoting transportation projects that enhance development space connectivity. Among them, the project to build side roads and overpasses on the route connecting cultural heritage, tourism, and economic development along the Red River is expected to enhance connectivity and facilitate the exploitation of development potentials along the route.
These are specific implementation steps to realize planning orientations, while also laying the foundation for Hung Yen to expand production, business activities, and develop industry and services in the long term.
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| Hung Yen to expand production, business activities, and develop industry and services in the long term. (Nguồn: TTXVN) |
Momentum from industry and investment capital
The movements in planning and infrastructure development are creating favorable conditions for Hung Yen's economy to maintain positive growth momentum. According to Dao Trong Truyen, Head of Hung Yen Statistics, the province's socio-economic status has continued to achieve many positive results since the beginning of the year. The GRDP for the first nine months increased by 11.22%, ranking 7th out of 34 provinces and cities nationwide, with a trend of higher growth in subsequent quarters.
In the overall growth picture, industry continues to play the main driving role. The industrial production value is estimated at over 422 trillion VND, with the industrial production index (IIP) increasing by 15.7%.
Many level-2 industrial sectors recorded high growth rates. Among them, machinery and equipment manufacturing increased by over 99%; repair, maintenance, and installation of machinery and equipment increased by 75%; pharmaceutical, chemical, and medicinal production increased by 38%; paper and paper product manufacturing increased by 34%; non-metallic mineral product manufacturing increased by 29%; apparel manufacturing increased by 28%; other transport equipment manufacturing increased by 23%; electronic products, computers, and optical products manufacturing increased by 19%.
The industrial growth structure, with the presence of many sectors with high technology content and added value, demonstrates the attractiveness of the investment environment as well as the role of the production infrastructure system, which is gradually being completed.
Notably, many high-tech industrial projects have come into operation, contributing to the local production capacity. The province has inaugurated the Nitto Vietnam Factory with an investment of 160 million USD, specializing in the production of high-tech products such as polarizing film materials for smartphones and automobiles.
Additionally, the Molex Hung Yen Manufacturing Plant of Molex Vietnam Co., Ltd., with an investment of 128 million USD, specializes in producing high-speed cable assemblies, twin-ax cables, fiber optic components, and fiber optic modules.
These projects enhance production capacity in high-tech fields, while also showcasing Hung Yen's ability to attract international investors. This is also a suitable direction for the modern industrial development orientation that the province is focusing on implementing.
In the first nine months of the year, Hung Yen attracted 238 new investment projects and 154 projects with increased capital adjustments, with total new and additional registered capital reaching 68.18 trillion VND and over 1.9 billion USD. To date, the entire province has 4,237 investment projects, including 3,255 domestic investment projects (DDI) and 982 foreign investment projects (FDI), with total registered investment capital of approximately 845 trillion VND and over 19 billion USD.
This result reflects the increasing attractiveness of the investment environment, while also highlighting the role of preparing land reserves, infrastructure, and improving the quality of governance in welcoming new capital flows.
Along with completing infrastructure conditions, Hung Yen continues to improve the business environment, enhancing service quality for businesses and residents. The province has approved a project to improve and enhance the PAR INDEX, SIPAS, PAPI indexes for the period 2026-2030; issued regulations to evaluate the capacity to implement provincial administrative reform indexes.
The Provincial Competitiveness Index (PCI) remains in the fairly high group, with the transparency component index ranked 1st and equal competition ranked 2nd nationwide. The administrative reform index (PAR INDEX) ranks 14th out of 34 provinces and cities; the satisfaction index of people with the service of state administrative agencies (SIPAS) is in the top 4 nationwide.
These results demonstrate efforts to innovate management and governance activities, aiming to build a government that accompanies businesses, creating a more favorable environment for investment, production, and business activities.
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| Hung Yen is gradually building important foundations for a new development journey. (Photo: TTXVN) |
Creating a foundation for double-digit growth targets
Besides industry and investment attraction, the fields of trade, services, and import-export continue to contribute positively to Hung Yen's economic growth. In the first nine months, total retail sales of goods and service revenue reached over 223 trillion VND, up 17.5% compared to the same period; import-export turnover reached 19.7 billion USD, up 29.61%.
Total state budget revenue reached 52 trillion VND, accounting for 62.8% of the estimate; public investment disbursement exceeded 28 trillion VND, among the top 4 highest localities nationwide. These results contribute to consolidating resources for development investment, while also creating additional conditions for the province to implement key programs and projects.
Along with boosting domestic investment attraction, Hung Yen actively expands international cooperation, seeking opportunities to access capital, technology, and management experience. The province's delegations have worked in the Czech Republic, Austria, Hungary, and Japan to promote investment and expand export markets. The province also welcomed many embassies, international organizations, investment funds, and multinational corporations to explore cooperation opportunities.
In the new development phase, improving the quality of investment promotion is closely linked to planning orientations and selecting priority fields. Through this, Hung Yen aims to attract projects that align with modern industrial development orientations, creating additional momentum for long-term growth.
According to Director of the Department of Finance Nguyen Duc Tai, with a high concentration spirit in the fourth quarter, the province strives to achieve a growth rate of 11.5% or higher by 2026. To realize this goal, Hung Yen is implementing many tasks and solutions, focusing on promoting industrial development and completing infrastructure; implementing the project to build Hung Yen into a modern industrial province.
Simultaneously, the province continues to complete the free economic zone project and the marine economic center project; boosting investment attraction, prioritizing large-scale, high-tech projects and enterprises, thereby laying the foundation for growth in the coming years.
From adjusting the overall planning to developing industrial parks, economic zones, transportation infrastructure, and improving the investment environment, Hung Yen is gradually building important foundations for a new development journey. The planning is being concretized by projects, investment resources, and growth results, opening up long-term development prospects, aiming to build Hung Yen into a modern industrial province with increasing competitiveness and position in the national economy.
