Hung Yen charts path to modern, green growth

This new development space offers comprehensive and abundant potential. Before the merger, Hung Yen already held a prized location adjacent to Hanoi, making it an attractive destination for investment in high-tech industries, electronics, and precision engineering.

As Hanoi's eastern gateway, the province boasts easy access to a vast consumer market, a modern logistics network, and strong urban development prospects.

Following the merger, Hung Yen has gained a coastline along the East Sea, opening access to valuable maritime resources, vast land reserves, and new opportunities in the marine economy, renewable energy, and green industry.

A key highlight is the over-30,000-hectare Thai Binh Economic Zone, located along the coastal highway, alongside promising strategies for future land reclamation from the sea.

Hung Yen’s transportation infrastructure has been and continues to be comprehensively developed.

The province is now connected to the northern region through key routes, including the coastal expressway, the Ninh Binh–Haiphong expressway, and a new link road between Thai Binh and Hung Yen.

This transport artery is now integrated with inland waterways, maritime routes, and port systems such as Diem Dien Port, Ba Lat Port, Haiphong Port, Lach Huyen Port, and the upcoming deep-water Ninh Binh Port.

In addition, post-merger Hung Yen enjoys proximity to diverse airports, including Cat Bi, Van Don, and soon, Gia Binh and Ninh Binh airports. The province also handles a railway line.

This comprehensive land–sea–air transport system will shorten geographical distances, facilitate the flow of goods, workers, and services, reduce logistics costs, and enhance value chains in the global supply network.

With its vast golden rice fields and rich offshore fisheries, Hung Yen gains an added advantage in developing a clean, ecological, and high-tech agriculture sector.

The province is now positioned for large-scale, high-productivity, high-efficiency agricultural production with greater added value.

With thousands of historical and cultural relics, many of which are nationally significant, hundreds of traditional festivals, and renowned craft villages such as Cau Nom bronze casting, Lien Phuong silk weaving, and Dong Xam silver engraving, Hung Yen also has immense potential for developing cultural, historical, and spiritual tourism. Major tourism projects, including international-standard golf courses, are underway.

In this newly expanded space, Hung Yen is shaping a multi-pillar economic ecosystem – combining green industry, clean agriculture, modern services, and smart logistics.

In line with the national trend of digital transformation and e-governance, the establishment of new Hung Yen province represents a step towards modern administrative management.

A digitised system allows for integrated data, streamlined public services, reduced operational costs, and optimised administrative efficiency – paving the way for a more agile, intelligent, and responsive model of state governance.

Hung Yen was home to 35 industrial parks (IPs) pre-merger and had attracted more than 650 projects, over half of which were funded from abroad, with total foreign capital exceeding $7 billion.

The former Thai Binh drew in 388 projects with a total capital approximating $9 billion, including more than $5.1 billion in FDI. These figures clearly demonstrate the province’s attractiveness to both domestic and international investors.

As of the end of July, new Hung Yen had already drawn more than $840 million in investment capital, reaching 84 per cent of its annual target. Among these were 64 newly licensed projects, including 35 foreign-invested projects with a total registered capital of $352 million, and 29 domestic-backed projects worth approximately $360 million.

In addition to new investments, existing investors have continued to inject additional capital – an indication of long-term confidence in Hung Yen’s investment environment.

Specifically, 35 projects had their investment capital increased, including 26 foreign-led projects with an additional $114 million and nine domestic projects adding another $14 million.

The province has either met or exceeded nearly all key development targets set by the 19th Party Congress of pre-merger Hung Yen province and the 20th Party Congress of pre-merger Thai Binh province for the 2020–2025 term.

Many targets have surpassed expectations. The economic structure is shifting positively towards industrialisation and modernisation; the economy is expanding; urbanisation is accelerating; and agriculture and rural areas are transforming effectively. The new rural development programme has achieved significant milestones.

Strategic breakthroughs have been effectively implemented, contributing to driving the province’s comprehensive development.

Highlights include the expansion of transport and urban infrastructure, and the establishment and operation of Thai Binh Economic Zone, as well as numerous IPs and industrial clusters, all laying a solid foundation for the province’s transformation.

These achievements help form a solid foundation for the future. With its newly expanded development space, Hung Yen is well-positioned to become a major industrial and urban centre in the Red River Delta.

As the Red River Delta region is being planned as a key driver of national growth, the emergence of a new, high-potential Hung Yen – with strengths in industry, services, and the marine economy – will serve as a crucial catalyst, creating a dynamic, modern, and sustainable growth pole for the region and the country.

The province is oriented towards becoming an industrialised, modern, and civilised urban area, advancing in line with the principles of green transition. By 2035, Hung Yen aims to become a modern industrial province meeting Grade I urban centre criteria.

Looking ahead to 2045, the province envisions itself as a centrally governed smart and ecological city, with a modern industrial base among the nation’s leading regions.

It also seeks to become a major marine economic hub in northern Vietnam, moving in step with the rest of the country into a new era – an era of growth, strength, prosperity, and national pride.

Hung Yen attracted over $840 million in investment in seven months, driven by industrial upgrades, policy reforms, and growing investor confidence in the province’s development prospects.

The northern province of Hung Yen is developing a proposal to establish a Free Economic Zone (FEZ), aiming to harness its strategic potential, create a socioeconomic breakthrough, and generate fresh momentum for the coastal areas of the Red River delta and the broader national economy.

CTP Netherlands intends to develop industrial parks offering comprehensive services in diverse localities across Vietnam, including Hung Yen province.