Hung Yen - Harnessing new growth drivers, shaping a prosperous future
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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| Prime Minister Le Minh Hung reviews the provincial master plan of Hung Yen for the 2021–2030 period, with a vision to 2050. (Photo: Nhat Bac) |
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 for effectively exploiting its potential and advantages, creating connections among 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 create the necessary conditions to expand development space, thereby creating the potential to attract large-scale, high-tech, high-value-added projects.
Along with overall planning, Hung Yen focuses on concretizing development orientations by establishing 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 for quickly putting the plan 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, with the need to improve the quality of investment capital and gradually build 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.
In addition to industrial infrastructure, the province is promoting transportation projects that enhance connectivity for development space. Among them, the project to build side roads and overpasses along the route connecting cultural heritage, tourism, and economic development along the Red River is expected to enhance connectivity and facilitate the exploitation of its development potential.
These are specific implementation steps to realize planning orientations while also laying the foundation for Hung Yen to expand production and business activities and to develop industry and services in the long term.
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| Tien Hai Industrial Park. (Source: Business Forum) |
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 among 34 provinces and cities nationwide, with growth expected to accelerate 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 many sectors high in 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, including 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, and PAPI indexes for the period 2026-2030, and 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 among 34 provinces and cities, and the satisfaction index of people with the services of state administrative agencies (SIPAS) ranks in the top 4 nationwide.
These results demonstrate efforts to innovate in management and governance, aiming to build a government that accompanies businesses and creates a more favorable environment for investment, production, and business activities.
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| Industry and investment attraction, as well as the fields of trade, services, and import-export, continue to contribute positively to Hung Yen's economic growth. (Source: VNE) |
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 services reached over 223 trillion VND, up 17.5% from 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 localities nationwide. These results help consolidate resources for development investment and create additional conditions for the province to implement key programs and projects.
Along with boosting domestic investment attraction, Hung Yen actively expands international cooperation 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 opportunities for cooperation.
In the new development phase, improving the quality of investment promotion is closely linked to planning orientations and the selection of 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 achieve this goal, Hung Yen is implementing numerous tasks and solutions, focusing on promoting industrial development, completing infrastructure, and implementing the project to build Hung Yen into a modern industrial province.
Simultaneously, the province continues to advance the free economic zone and marine economic center projects, boosting investment attraction and prioritizing large-scale, high-tech projects and enterprises, thereby laying the foundation for growth in the coming years.
From adjusting overall planning to developing industrial parks and economic zones, building transportation infrastructure, and improving the investment environment, Hung Yen is gradually laying 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.
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