Hung Yen expands space to attract a new wave of industrial investment

In the first half of 2026, Hung Yen's regional GDP grew 10.72 per cent, ranking fifth among 34 provinces and cities nationwide, while the industry and construction sector expanded by 14.6 per cent.

Growth momentum continued in July, bringing the province's industrial production index up 15.41 per cent on-year in the first seven months, with manufacturing and processing industries increasing 16.05 per cent.

Expanding industrial land supply

Alongside expanding production capacity, investment inflows into the province have continued to strengthen. According to the provincial People's Committee's socioeconomic development report for the first seven months, Hung Yen lured 197 newly registered investment projects and recorded 132 projects with additional capital.

Photo: HY

As of July 31, the province was home to 975 foreign-invested projects with total registered capital surpassing $18.8 billion. Local investors accounted for 3,230 projects, with total registered capital exceeding $33.2 billion.

The expansion of local business community has also continued. During the first seven months, the province issued new business registration certificates to 3,382 enterprises, up 6.19 per cent on-year, with total registered capital of $1.54 billion. Another 577 businesses resumed operations during the period.

The expansion of production and investment is translating into rising demand for industrial land. At the beginning of the year, Hung Yen set a target of establishing five to eight new industrial parks (IPs). By the end of July, the province had established three new IPs – Tan Dan, IP No. 08 and IP No. 10 – while establishing four new industrial clusters (ICs) and revising establishment decisions for 21 existing ICs.

Alongside expanding its industrial land bank, Hung Yen is accelerating the development of new IPs.

Construction of IP No. 02 – Hung Yen started on June 2, adding to the province's available industrial land supply.

The province is also preparing additional IPs, gradually completing land availability and supporting infrastructure to accommodate new investment projects in the coming years.

At the industrial-cluster level, Hung Yen currently has 115 planned ICs, covering approximately 7,319.76 ha.

During the first seven months, the province approved the establishment of four additional ICs – Hai Trieu, Viet Bac, Do Luong and Dong Do – bringing the total number of established ICs to 86, with a combined area of approximately 4,668 hectares.

Site preparation and land clearance are also being accelerated. To date, 80 of the 86 ICs have approved master plans; 19 have completed site clearance, 45 are under development, and 22 are completing procedures in preparation for site clearance.

The total area of ICs with technical infrastructure already developed has approximated 1,574 ha. Of the 86 established ICs, 16 have basically completed investment in technical infrastructure, while 48 are currently under construction.

In terms of environmental infrastructure, 16 ICs have completed centralised wastewater treatment systems, with six more systems under construction.

The existing industrial-cluster supply has already created space for secondary projects. To date, 49 ICs have attracted 548 projects, including 461 domestic-invested projects and 87 foreign-invested projects, with total registered capital of $1.99 billion and $1.55 billion, respectively.

Alongside expanding supply, Hung Yen is also focusing on improving the quality and restructuring the organisation of its industrial space.

At a recent meeting with the provincial Department of Industry and Trade on IC development, Chairman of Hung Yen People's Committee Nguyen Manh Quyen requested continued reviews of planning, faster infrastructure development and site clearance, and the attraction of high-quality secondary projects.

For operational ICs, the province requires strict compliance with approved planning, licensing requirements, environmental protection regulations, and fire prevention and firefighting standards.

For ICs under development, the focus is on resolving obstructions related to planning and investment procedures, accelerating site clearance and technical infrastructure development, thereby creating industrial premises for secondary investors at the earliest possible stage.

Creating more room for high-value projects

Hung Yen's investment landscape is expanding, with a stronger focus on sectors with high technology content and greater added value.

Photo: HY

On July 21, the provincial People's Committee reviewed and discussed proposals for the establishment of a High-Tech Park and the Hung Yen Free Economic Zone, opening up additional development space for high-tech projects, innovation-driven investment and supporting service industries.

The proposed High-Tech Park covers nearly 500 ha and comprises eight functional subdivisions, with estimated investment capital of $400 million.

Hung Yen is coordinating with the Ministry of Science and Technology and relevant agencies to finalise the proposal dossier for submission to the Prime Minister for consideration and approval.

The Free Economic Zone proposal is also being finalised based on feedback from central ministries and agencies, gradually creating a new development space for the province.

To meet the requirements of industrial development, Hung Yen is gradually aligning its industrial land bank with transport infrastructure, logistics, housing, and human resources.

At a meeting with Hung Yen on its double-digit growth target on July 17, Deputy Prime Minister Nguyen Van Thang called on the province to develop logistics services and processing and manufacturing industries in industrial parks; complete key transport corridors and strengthen inter-regional connectivity with Hanoi and neighbouring localities; while placing greater emphasis on developing a high-quality workforce.

Alongside transport and logistics infrastructure, Hung Yen is accelerating social housing and rental housing projects for workers and employees, while stepping up efforts to engage, train and improve the quality of its workforce.

During the first seven months, Hung Yen continued investment promotion activities in Japan and South Korea and held working sessions with a number of domestic and international corporations, organisations and investors.

WHA, Lotus Invest Limited, Pacific Construction Group, the US Embassy, Japan International Cooperation Agency, Phu My Hung, YCH Singapore, as well as a number of domestic businesses and corporations, have thus far explored investment opportunities in the province.

From newly established and infrastructure-ready IPs and ICs to the proposed High-Tech Park and Free Economic Zone, the province is gradually diversifying both its investment space and priority sectors.

With a target of achieving GRDP growth of at least 11.5 per cent in 2026, Hung Yen is continuing to accelerate infrastructure development, prepare its industrial land bank and improve the supporting conditions for production.

These efforts are expected to strengthen the province's capacity to accommodate new investment projects, particularly in processing and manufacturing, supporting industries and high-tech sectors.

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