Hung Yen prioritizes high-tech, supporting industries

Three breakthroughs

The Party Committee of Hung Yen Province (2020-2025 tenure) has identified three breakthroughs crucial for the locality to become a province with modern industries. These include: 1) attracting investment according to the province’s development planning; 2) prioritizing large-scale projects and those in the fields of supporting industry and digital technology; and 3) upgrading transport infrastructure to facilitate project implementation.

Hung Yen Province has a favorable geographic location for socioeconomic development, especially industrial development. In the 2022-2023 period, the locality invested in lifeline projects, such as Belt Road 4’s section running through Hung Yen Province (19.3km), and the road connecting Hanoi - Hai Phong Expressway with Cau Gie - Ninh Binh Expressway (second phase). The province has approved the plans of investment in a route connecting cultural and tourism heritage sites along the Red River, Tan Phuc - Vong Phan Road, and a horizontal axis connecting National Highway 39 (Km22+550) with Provincial Road 376.

A Daikin air conditioner manufacturing plant in Thang Long II Industrial Park, Hung Yen Province

From now to 2050, Hung Yen Province will continue accelerating transport infrastructure projects, focusing on connecting provincial roads with national highways and expressways as well as inter-provincial inter-regional roads to attract investment in IPs and new urban areas.

Currently, Hung Yen has 17 IPs, nine of which are located along Hanoi - Hai Phong Expressway with a total area of about 4,395ha. Eleven IPs are operational and have attracted 437 investment projects with a total investment of about US$9 billion, including 249 projects with foreign direct investment and 188 domestic projects, generating jobs for 78,300 workers.

In 2022, the total revenue of projects based in Hung Yen’s IPs was estimated at US$5.5 billion, export value about US$3.1 billion, and tax payment about VND2.7 trillion.

The province expects to have had 30 IPs covering 9,540ha by 2030 and 35 IPs with a total area of 12,000ha by 2050, ensuring sufficient industrial space for investors in the next stage.

Prioritizing investment attraction

At the recent meeting of the Coordinating Council for the Red River Delta Region, Chairman Tran Quoc Van said that the Prime Minister has accepted to increase the IP land quota for Hung Yen Province from 3,849ha to 4,395.43ha by 2025, an increase of 546.43ha. However, the additional quota has not been allocated in land use planning to 2025 and it, therefore, has yet to be used. Hung Yen Province has proposed that the Ministry of Natural Resources and Environment propose to the Prime Minister to soon allocate the quota for IP land use to the locality.

Chairman Tran Quoc Van said that to attract investment in IPs and urban service areas along economic corridors and expressways, Hung Yen Province will concentrate on upgrading the infrastructure for industrial and high technology development along the route connecting the two expressways of Hanoi - Hai Phong and Cau Gie - Ninh Binh. The province pursues the goal of becoming an industrial and information technology hub of the entire Red River Delta. Large urban areas and social housing projects will be developed along Hung Yen’s sections of Hanoi - Hai Phong Expressway, Hanoi’s Belt Roads 3, 4, 5 to meet the demand for residential space and social security.

When attracting investment in IPs, Hung Yen Province prioritizes projects in the fields of high-tech and supporting industries. The locality is promoting in-depth development of IPs while implementing support programs for investment in IP infrastructure to ensure their sustainable development and minimize adverse impacts of market changes and external investments.