Hung Yen striving to become bright spot in Red River Delta

Located near the capital Hanoi, the Red River Delta province of Hung Yen is making efforts to utilise its development opportunities.
Hung Yen striving to become bright spot in Red River Delta
Hung Yen striving to become bright spot in Red River Delta. (Photo: Baohungyen. )

All-level Party Committees, authorities and local residents have worked hard to achieve targets and tasks set in the 9th-tenure Politburo’s Resolution No. 54 - NQ/TW dated September 14, 2005 on socio-economic development and national defence and security in the Red River Delta by 2010 with a vision towards 2020.

Over the past 17 years, the document has brought about noted results in all spheres.

From 2005-2021, the locality’s GRDP grew 9.28% annually and its total social investment expanded 15% each year, statistics show.

Despite difficulties caused by the COVID-19 pandemic last year, Hung Yen’s combined development investments still amounted to over 36.4 trillion VND (1.46 billion USD), seven times higher than that in 2005, with foreign capital making up a big share.

The industrial proportion in the province's economy rose from over 38% in 2005 to 63.67% last year.

As of 2021, the locality had 23 urban areas. The province has a harmonious, modern infrastructure system and an expanded transport network connecting it with big cities and provinces in the region.

Thanks to the resolution, Khoai Chau district has seen significance changes, as reflected through the proportion of the industry-craft-construction sector in the local economic structure, which increased from 21.6% in 2005 to 47.32% last year.

The district’s production value went up 11.63% and its annual budget collection exceeded the target by 13.5%.

Secretary of the district’s Party Committee Nguyen Duc Son said Khoai Chau will focus on attracting projects with cutting-edge technologies that are environmentally friendly.

It will also step up agricultural restructuring towards high-tech in combination with tourism development, and pool resources for infrastructure construction and urban development.

Limitations still remain in Hung Yen such as small-scale agricultural production and investment projects, limited state budget spending on national defence and security, and inadequate infrastructure.

Hung Yen is striving to become a smart, green urban area with modern infrastructure.

Its GRDP is expected to grow 8% per year from 2021-2025 and 8.5% from 2026-2030, while its social investment is set at about 250 trillion VND and 450 trillion VND in the two periods, respectively.

By 2025, the local poverty rate is projected at below 1% and the rate of trained labourers will reach 71% of the local workforce.

Hung Yen will work to soon complete its planning scheme for 2021-2030 with a vision towards 2050, ensuring its contents match the new situation.

It will also concertedly and effectively roll out programmes, directives, projects, resolutions and conclusions of the provincial Party Committee and the committee's standing board on socio-economic affairs.

The provincial will urge investors to speed up technical infrastructure building, continue to put into operation industrial parks and clusters, push ahead with site clearance, further improve the investment environment and ensure social welfare, becoming a bright spot in terms of socio-economic development, national defence and security in the Red River Delta.

Industrial parks in Hung Yen have attracted 555 million USD in foreign direct investment (FDI) so far this year, surpassing the yearly plan assigned by the provincial authority by 23.3% and up 11% year on year.

Pham Truong Tam, Head of Hung Yen’s IP Management Board, elaborated that in the period, the Board granted investment certificates to 11 new FDI projects and 19 domestic ones with total investment capital of 102.7 million USD and 2.37 trillion VND (equivalent to 96 million USD).

Meanwhile, 43 operating projects, including 29 FDI financed ones, were allowed to add a total 291 million USD and 1.565 trillion VND to their investment capital. Some examples are a factory of Kyocera Vietnam which received an additional 61.7 million USD, the Haixin No.2 project of Vietnam Haixin New Material received 31.3 million USD more, and SOC Vietnam raised its investment by 28.3 million USD.

Tam attributed the positive outcomes to improvements in the local investment environment as a result of drastic instruction and strong efforts of all-level authorities in Hung Yen.

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(Source: VNA)