Hung Yen develops industrial parks to attract investment
In 2024, Hung Yen province has attracted nearly 4 billion USD in domestic and foreign investment capital, the highest ever, significantly contributing to the province's promotion of industrial development, striving for an economic growth target of 8% or higher in 2025 and beyond.
Pho Noi A Industrial Park, Hung Yen province.
Hung Yen is located adjacent to the Hanoi capital, with convenient traffic infrastructure, connecting seaports, airports and major cities. To bolster the potential and advantages, the province is focusing resources on planning, investing in building industrial park infrastructure to attract investment.
Building technical infrastructure for industrial parks
At the construction site of the Industrial Park No. 3, workers are rushing to construct technical infrastructure items. General Director of TDH Ecoland Urban Development and Investment Joint Stock Company Nguyen Cong Hong said: To overcome difficulties, Hung Yen province has established a steering committee for site clearance of key projects and works, helping this work to be smooth. In a short time, the entire 160 hectares of land in Industrial Park No. 3 have been handed over to investors.
Immediately after the site was "cleared", TDH Ecoland and its partners focused on building technical infrastructure and in less than a year, Industrial Park No. 3 has basically completed the construction of technical infrastructure and come into operation. With a favorable location, adjacent to the Hanoi-Hai Phong expressway; and a very attractive policy of one-time land rental payment, the Industrial Park No. 3 has attracted many FDI investment projects.
Hung Yen province is strategically located in the Northern Key Economic Region, bordering the Hanoi capital; with convenient traffic infrastructure with Hanoi-Hai Phong expressway, the National Highways No. 5, No. 38, No. 39, the Ring Road No. 4 - Hanoi Capital Region... connecting to seaports, airports and major cities in the North. To beef up the potential and advantages, create breakthrough economic development, in recent years, the province has always focused on planning, investing in building industrial park infrastructure to attract investment.
The Head of the Management Board of Industrial Parks of the province Vu Quoc Nghi said: In order to facilitate the construction of infrastructure for industrial parks, since 2021, the Standing Board of the Provincial Party Committee has issued Directive No. 15-CT/TU directing the site clearance for the implementation of works and projects in the area and Decision No. 409-QD/TU (2022) on the establishment of the steering committee for key projects during the 2021-2025 period, led by the Provincial Party Secretary. The province has mobilized the entire political system to mobilize, propagate, and persuade people to agree to hand over land to the projects serving socio-economic development.
Every month, the steering committee for key projects of Hung Yen province meets to review the site clearance progress and issue notices to direct and promptly resolve difficulties and problems. Therefore, in the period of 2021-2024, the province has cleared nearly 1,300 hectares of land to hand over to industrial park infrastructure investors, nearly 3 times higher than the total area for the period of 2015-2020.
The Industrial park project owners have accelerated progress, invested in building synchronous technical infrastructure, in 2024, about 620 hectares of land have been developed, nearly 2 times higher than that in 2023, bringing the total area of industrial park land with technical infrastructure to about 2,500 hectares, accounting for 89% of the total area; of which the area of land available for re-lease is currently about 540 hectares. Many industrial parks have come into operation, attracting investment, typically the Thang Long II Industrial Park expansion, the Industrial Park No. 3, the Industrial Park No. 5, the Clean Industrial Park, etc.
The synchronous industrial park infrastructure has created favorable conditions to attract effective investment. In 2024, Hung Yen province has received 86 projects, seeing an increase of 33% compared to 2023, with a total registered capital of 772 million USD and 11,630 billion VND.
Industrial parks have received many large-scale projects in the fields of technology, high technology, and standard factories of multinational corporations and major brands in the world, such as the LCD polarizing film production project for smartphones and automobiles of Nitto Vietnam Co., Ltd. (the investment capital of 132 million USD); the optical cable and high-speed connection cable production project of Molex Vietnam Company (128 million USD); RFID label production project of Arizon Vietnam Technology Company (67.5 million USD), ...
Creating momentum for breakthrough growth
According to Decision No. 489/2024/QD-TTg of the Prime Minister on the planning of industrial park development to 2030 and with a vision to 2050, Hung Yen province has 35 industrial parks, with a total area of over 12,000 hectares. Currently, the province has 12 industrial parks, with an area of over 3,123 hectares; of which, 10 industrial parks (about 2,773 hectares) have come into operation, receiving secondary investment projects.
Hung Yen Provincial Party Secretary Nguyen Huu Nghia assessed that 2024 is the year the province has attracted record-breaking investment capital, the highest ever, with 180 projects, with a total capital of more than 61,000 billion VND and more than 1.5 billion USD. Up to now, the total number of valid projects in the province has reached 2,371 projects (1,755 domestic projects and 616 foreign projects) with total registered capital of more than 370,000 billion VND and more than 8.5 billion USD. This achievement is due to the important contribution of industrial parks in the area in attracting investment, contributing to boosting the province's high and stable economic growth. In 2024, the province's gross regional domestic product (GRDP) increased by 7.7%, the economic scale reached VND 159,844 billion, and the average GRDP per capita attained VND 121.27 million/year, seeing an increase of VND 8.81 million compared to 2023.
To achieve the strategic goal of breakthrough development, Provincial Party Secretary Nguyen Huu Nghia said: The province is determined to pursue a new growth model based on the following pillars: The role of the government in creating, focusing on promoting strong digital transformation, continuously improving institutions, the investment and business environment, and competitiveness, and strengthening the leading role of public investment. At the same time, creating an ecosystem for clean, high-tech industrial development with a selective new investment attraction policy, focusing on scale, modern technology level, and environmental protection. The province also accelerates the urbanization rate, forming large, smart, ecological urban areas associated with the development of modern trade and services; improving provincial competitiveness; creating favorable conditions for businesses and investors to have equal access to information, business opportunities, investment, land, etc.
Hung Yen province regularly contacts and dialogues with businesses to promptly grasp, handle difficulties, obstacles and support businesses; strengthen investment and trade promotion activities, promote potential, business opportunities, build the brand and image of the province domestically and internationally.
In the coming time, the province will focus on reviewing, updating and supplementing the planning and land use plans of industrial parks for the industrial parks that have been identified for development according to the planning; supplementing in the list of key projects of the province for newly established industrial parks.
The provincial authorities have been directed to accelerate compensation, site clearance and land handover to industrial park investors, invest in technical infrastructure construction, receive investment projects; speed up the implementation of industrial park infrastructure investment projects that have been established and approved,... striving to have about 2,000 hectares of cleared land ready for lease by the end of 2025; by 2030 there will be 30 industrial parks (with an area of 9,588 hectares), by 2050 there will be 35 industrial parks (over 12,000 hectares), making Hung Yen one of the strongly industrially developed provinces in the country.
