Investment attraction flourishes

With the proactive and drastic improvement of the investment and business environment, enhancing the provincial competitiveness to attract strategic projects, in 2024, the province's investment attraction work has achieved important results, increasing both the number of projects and investment capital, contributing to the implementation of the province's socio-economic development goals.

Investment attraction achieves positive results

The implementation of the breakthrough to strongly improve the investment and business environment in the spirit of the Resolution of the 19th Provincial Party Congress has shown the right direction and awareness, new thinking, high political determination of the Party committees at all levels, the government, and the entire political system of Hung Yen in building and creating an ideal investment environment. With a consistent perspective in economic management, the province identifies private investment and foreign direct investment (FDI) as important driving forces for socio-economic development. The year 2024 has marked a strong mark in the province's investment attraction activities with a series of important political events. On June 10, Deputy Prime Minister Tran Hong Ha signed Decision No. 489/QD-TTg approving the Hung Yen Master Plan for the period 2021 - 2030, with a vision to 2050. In particular, investment attraction is one of 10 key tasks and strategic breakthroughs identified by the province to realize the Provincial Master Plan for the period 2021-2030, with a vision to 2050. The goal is to strive by 2030 for Hung Yen to develop rapidly and sustainably, becoming a modern industrial province with an economic scale and development level among the leading groups in the country. From there, a solid foundation is created to realize the vision of Hung Yen becoming a centrally-run city by 2050; a smart, rich, civilized, and cultural city... Right at the conference announcing the planning and investment promotion held on July 7, the province welcomed 24 large domestic and foreign projects with a total registered investment capital of more than 26,000 billion VND. Some outstanding projects include: The investment project on construction and business of infrastructure of Tho Hoang industrial park with a total investment of 3,095 billion VND; the investment project on construction of Central Park and new urban area of ​​Dong Khoai Chau with a total investment of 3,100 billion VND; the Project on production of cables, connectors and antennas with a total investment of 16.5 million USD; the Project on production of connectors and electronic components (10 million USD); GO Hung Yen Trade Center (18.2 million USD)... In which, the Acecook Vietnam Product Processing Factory project with a total investment of 87.7 million USD is one of the projects with the largest registered capital invested in the province. Mr. Kaneda Hiroki, General Director of Acecook Vietnam Joint Stock Company said: Hung Yen province has many factors to attract investment such as convenient geographical location, synchronous infrastructure, helping to quickly distribute goods to provinces and cities. Besides, there are abundant human resources, preferential policies, favorable investment environment; reformed administrative procedures, effective support for businesses... In order to expand business in the future, meet the increasing needs of consumers and achieve sustainable development goals, the company decided to implement a new factory project in Hung Yen province. The project has a total investment of about 2,200 billion VND, expected to be completed and put into operation in the third quarter of 2027 with a demand for about 2,000 workers. The project will use advanced and modern technology in the production of instant noodles, ensuring safety for users and being environmentally friendly.

Production at Hoa Phat Hung Yen Steel Co., Ltd., Pho Noi A Industrial Park

With positive solutions, in 2024, Hung Yen received 138 new investment projects, seeing an increase of 38 projects compared to the same period in 2023, including 86 domestic projects and 52 foreign-invested projects, with a total registered investment capital of 19,619 billion VND and 679.7 million USD. At the same time, the certificates of capital increase adjustment have been granted to 109 projects with a total adjusted investment capital increase of 6,132 billion VND and 120.99 million USD. Most of the newly received projects have large investment capital, are in line with the general development plan of the province and are able to take advantage of the common industry advantages of the locality.

Accompanying investors for sustainable development

To effectively carry out the investment attraction work, from the beginning of the year, the province has directed sectors and localities to strengthen information collection, research, evaluation, and analysis of the market and potential investment partners to identify investment trends, investment needs, and develop appropriate and effective plans to approach and call for investors. Comrade Trinh Van Dien, Director of the Department of Planning and Investment, said: With its own internal strengths, Hung Yen has proactively and selectively attracted investment, linking investment attraction with ensuring national defense and security; protecting natural resources and the environment; increasing the number of FDI projects capable of participating in the global supply chain and linking with domestic investment to accelerate the process of technology transfer and participation in the global value chain. The province has proactively coordinated with ministries and central sectors to complete and submit to the Government for promulgation of regulations on a number of specific mechanisms on investment, finance, budget and decentralization of management; focusing on completing transport and urban infrastructure; preparing land fund for high-tech industry development, information technology to welcome international capital flows into Vietnam...

Recently, along with investment attraction, the Provincial People's Committee has directed all levels and sectors to strengthen the removal of difficulties for enterprises. Accordingly, the province continues to strongly improve the investment environment, enhance provincial competitiveness with the motto "Government accompanies, open-minded, listens, and substantially removes difficulties and obstacles for enterprises". The Provincial People's Committee has directed specialized units to establish a working group to assess the production and business activities of enterprises and production and business establishments in the area; thereby grasping the advantages and difficulties that need to be removed and proposing solutions to beef up economic growth and development.

Provincial leaders continue to maintain regular meetings with businesses to directly listen to feedback, recommendations and consider solutions, direct the removal of difficulties and obstacles, at the same time provide and exchange information, create unity and consensus in leadership and direction with the principle and consistent viewpoint of resolving quickly, clearly, and in accordance with the law, contributing to strengthening and consolidating the relationship between authorities at all levels with people and businesses...

The achievements in the investment attraction that the province has achieved in recent times have a significant mark of innovation in thinking, defining a vision in policies and actions. In line with the general flow of the whole country, Hung Yen province has many advantages in attracting investment, especially foreign direct investment capital. In the coming time, the province will continue to carry out investment promotion work with focus and key points, in line with the province's investment attraction orientation. At the same time, continue to perform the Department, Sector and Local Competitiveness Index (DDCI) to create a driving force for drastic and synchronous reforms to improve the quality of administrative procedure settlement, create a favorable environment for investment, production and business activities. To promote measures to support businesses in accessing information, markets, land, technology, credit; be consistent in investment attraction mechanisms and policies to create trust and attractiveness for investors in project implementation...