Japan pours 3.8 billion USD in Hung Yen

Total Japanese investment in the northern province of Hung Yen so far has reached 3.8 billion USD, in 176 projects.

Thus, Japan has topped the foreign investor lineup in the province, followed by the Republic of Korea and China.

At the press conference - photo: VNA

The figures were unveiled at a press conference held on June 27 to review Hung Yen’s socio-economic performance in the first half.

In the first half of this year to June 20, Hung Yen welcomed 32 new foreign-funded projects valued at 544.29 million USD between the beginning of the year and June 20, bringing its totals to 578 projects and 7.5 billion USD.

In the first half of this year, Hung Yen’s gross regional domestic product (GRDP) was estimated to grow by 6.81% compared to the same period in 2023, ranking 24th out of 63 provinces and cities nationwide. Meanwhile, its contribution to the State budget revenue reached some 21.445 trillion VND (857.8 million USD), an increase of 39.83% year-on-year and a fulfilment of 65.34% of the annual plan.

Also in the six months, the local industrial production and construction experienced more favourable conditions compared to the same period last year, Tuyen noted. Industrial enterprises maintained significant growth, with several sectors showing substantial increases such as the production of metal, electronic, and electrical products, up 8.48%, 35.73%, 16.93%, respectively.

However, some sectors that constitute a large proportion of the province's economy saw annual declines due to reduced orders. They included food processing, leather and leather products manufacturing, and non-metallic mineral production, down 5.74%, 12.38%, and 4.78%, respectively.