Hung Yen develops industrial parks to accommodate investment waves

Hung Yen is currently home to 12 industrial parks (IPs), with a total area surpassing ​​3,120 hectares. By 2030, the province aims to allocate 4,788ha to build 13 new IPs and expand four more with a total area of ​​405ha.

A corner of Thang Long Industrial Park II in Hung Yen

Under the provincial plan, Hung Yen will develop rapidly and sustainably towards 2030, becoming a modern industrial locality with an economic scale and development level among the top group in the country. The province's industrial sector will also become among the top performers in the country.

According to Tran Quoc Van, chairman of Hung Yen People's Committee, one of the key tasks set forth by the provincial leaders is “Developing key foundation industries; high-tech, modern, environmentally friendly, and low-carbon emission industries; focusing on building and developing a synchronous and modern industrial ecosystem; prioritising the development of IPs with synchronous and modern technical infrastructure; forming industrial-urban-and service parks, specialised IPs, high-tech IPs, eco IPs, and supporting industry IPs.”

To quickly grow into a modern and large-scale industrial centre, the province has come up with solutions to ramp up investment attraction.

According to Vu Quoc Nghi, head of Hung Yen Industrial Park Management Board, the province is focused on IP construction and development, and has identified this as a key task for socioeconomic development.

“Hung Yen is currently home to 12 IPs with a total area surpassing 3,120ha. Since 2021, construction of many IPs has started. Ten IPs have been put into operation and received 598 projects, with total registered capital of about $8.5 billion,” said Nghi.

Hung Yen’s efforts to attract investment into IPs have yielded upbeat outcomes, mirrored in both the number of projects and registered investment capital.

In 2023, local IPs enticed over $1 billion in total investment, and the figure was nearly $750 million in the first six months (H1) of 2024.

As planned, by 2030, the province will have 30 IPs (including 17 IPs already in a scheme approved by the prime minister, and 13 new IPs) covering 9,185ha. Four IPs are also planned for expansion, with ​​405ha. After 2030, five new IPs are planned for development with a total area of ​​2,460ha.

By 2050, the province will have 35 IPs with an area of ​​nearly 12,050ha.

Among the 13 potential new IPs, Hung Yen plans to allocate nearly 4,790ha of land for them. They include Phu Cu IP to cover 544ha, Bai Say IP with 495ha, Tien Lu-Kim Dong-An Thi IP over 463.1ha, and An Thi I IP over 450ha.

The establishment and expansion of IPs must comply with the targets, plans for land allocated to IPs, and relevant legal regulations.

Hung Yen is proud of having a favourable geographical location, being part of northern key economic zone, adjacent to Hanoi and the rapidly developing localities of Hai Duong, Ha Nam, Thai Binh, and Bac Ninh.

The province is also located on the Kunming (China)-Lao Cai-Hanoi-Haipphong and Nanning (China) -Lang Son-Hanoi-Haiphong economic corridors.

The province's technical infrastructure is synchronous and being increasingly improved. Hung Yen has a transportation network connecting localities across the country, such as National Highway 5, the Hanoi-Haiphong expressway, and a connecting road to the key Hanoi-Haiphong and Cau Gie-Ninh Binh expressways.

At the same time, the national power grid is stable in Hung Yen, meeting the burgeoning development requirements of investors. Hung Yen also has a young workforce and the ability to access high-quality human resources from Hanoi.

These conditions should open up great opportunities for Hung Yen to promote investment attraction, especially foreign capital flow with advanced technology to propel socioeconomic development.

Industrial parks strive to level up Industrial, service, and urban zones with smart technology application in operation and management of technical infrastructure will become hot development trends in the Vietnamese market, especially when it comes to some of the nation’s biggest foreign investors.

Lifting legal barriers for eco-industrial parks to thrive The set of standards to measure factors related to sustainable development and social impact of businesses is a global trend and has become a well-known concept among the businesses, especially when sustainable development continues to receive heightened attention.

Hai Long IP in full gear to serve investors Bao Minh Industrial Park Infrastructure JSC from Thai Binh province participated in a workshop on August 6 aimed at attracting investment in Vietnam at the Taipei International Convention Centre in Taiwan.