Hung Yen – Attractive destination for investors

Hung Yen province's master plan for the period 2021-2030, with a vision to 2050 approved by the Prime Minister, has opened up opportunities to attract investors to the province, especially the projects of important and strategic significance in improving urban quality, services, trade, and developing high-tech industry.

The Thang Long II Industrial Park

Comrade Vu Quoc Nghi, Head of the Management Board of the province’s Industrial Parks: The Provincial master plan increases attractiveness to investors

Comrade Vu Quoc Nghi, Head of the Management Board of the province’s Industrial Parks

The Provincial master plan for the period 2021 - 2030, with a vision to 2050 (the master plan) determines the organization of socio-economic activities in Hung Yen province according to the spatial organization model "2 driving regions, 2 economic corridors, 5 development axes, 3 growth centers", thereby opening up new space, increasing the need for construction, investment and construction, which is also a factor that increases the province's investment attraction during the planning period in addition to the province's existing potentials and advantages.

According to the Provincial master plan, many tasks and effective solutions to create a favorable investment environment are set out, with a focus on developing industrial parks, which create available land with full synchronous and modern technical infrastructure. In fact, concentrated industrial parks in the province have developed strongly in both quantity and quality and increasingly affirmed their core role in attracting investment and promoting industrial development. The pervasive power of industrial parks promotes rapid urbanization and shifts the province's economic structure towards modernity. Currently, in the whole province there are 17 industrial parks with a total area of ​​more than 4.3 thousand hectares added to the development planning of Vietnam's industrial parks. Of which, 10/17 industrial parks have come into operation and received investment projects. With fully synchronous, modern technical infrastructure and prime locations, industrial parks have great advantages and attractiveness in attracting investment, especially foreign direct investment (FDI) projects. To date, in the province's industrial parks there are nearly 600 domestic and foreign investment projects. To implement the province's policies and orientations, the Management Board of the province’s Industrial Parks has chosen to receive projects with high technology, modern technique, ecological environment protection, large-scale projects, and fast implementation progress and contributing a lot to the budget. Many large domestic and foreign corporations and brands are present and operate production and business effectively in the province's industrial parks.

Mr. Nguyen Tuan, Director of Yen My Industrial Park Investment Joint Stock Company: Hung Yen is an attractive, safe and sustainable destination for domestic and foreign investors

Mr. Nguyen Tuan, Director of Yen My Industrial Park Investment Joint Stock Company

Yen My Industrial Park Investment Joint Stock Company is currently the investor in the infrastructure of Industrial Park No. 05. Hung Yen possesses a convenient location for connecting with other localities in the region and the world. If in the past, traffic was still difficult, in recent years, the transport infrastructure system has been increasingly improved, increasing the attractiveness of investment in local industry development. With major routes such as Hanoi - Hai Phong expressway, the Ring Road No. 4 - Hanoi Capital Region, Hanoi - Hung Yen interprovincial road, the road connecting Hanoi - Hai Phong expressway with Gie Bridge - Ninh Binh expressway, new National Highway No. 38 and National Highway No. 38B..., the connecting traffic system of Hung Yen province is increasingly synchronized. Besides, the investment environment in Hung Yen is also very favorable with the increasing provincial competitiveness index every year, ranking 12/63 provinces and cities nationwide by 2023.

In recent times, local authorities have made a lot of policies to support domestic and foreign investors to attract investment and create favorable conditions for business activities such as: Administrative procedures related to investment, project construction and operation are simplified and resolved quickly, creating a favorable business environment for businesses. To create a bridge for cooperation between businesses and vocational training schools in training and recruiting skilled laborers...

With the support of the provincial leaders in investment promotion in Taiwan (China), up to now the Industrial Park No. 05 is known as "Taiwan High-Tech Park" and as a regular destination for survey teams of investment research from Taiwan. The goal in the Industrial Park No. 05 is that investment projects from Taiwan account for about 70% of the area of ​​the Industrial Park No. 05, to actively contribute to the development of the electronics and semiconductor industry in the region.

Mr. Han Jongdeok, General Director of VTK Hung Yen Industrial Park Investment and Development Company Limited: Local authorities accompany in removing difficulties and obstacles for foreign businesses

Mr. Han Jongdeok, General Director of VTK Hung Yen Industrial Park Investment and Development Company Limited

VTK Hung Yen Industrial Park Investment and Development Company Limited is the investor in building the infrastructure of the Clean Industrial Park. During the process of surveying and selecting locations for investment, VTK Hung Yen Industrial Park Investment and Development Company Limited chose Hung Yen province because of the province's clear and transparent way of working in investment attraction. Next is quick administrative procedures, saving a lot of time for businesses; abundant and highly skilled human resources can meet the production needs of Korean businesses.

During the investment process, because it is a foreign enterprise, the company's key staff cannot fluently grasp the provisions of Vietnamese law. However, throughout the investment process in Hung Yen, the company is always closely supported by the local government and resolved all problems. Investors also see the province's determination and correctness in directing and managing socio-economic development. In addition, the province has drastically directed administrative reform and built an electronic government to create favorable conditions for foreign investors. The province also focuses on supporting businesses in clearing land, recruiting workers, quickly resolving administrative procedures, and removing difficulties and obstacles in the production and business process. Provincial leaders have proactively innovated in promotion activities, investment attraction, organized meetings, exchanges, and dialogues with the business community and investors in an in-depth, industry-based approach, the province's priority area to attract investment to receive and promptly resolve difficulties, problems, and legitimate recommendations of businesses. To firmly believe in the health of the investment environment, in the coming time, the company continues to plan to expand investment in Hung Yen.