Hung Yen Province Industrial Parks Attract Investment

Hung Yen Province Industrial Parks Attract Investment

OVERVIEW OF HUNG YEN PROVINCE

Hung Yen is a province located in the Red River Delta, within the key economic region of Northern Vietnam and the Hanoi-Hai Phong-Quang Ninh economic triangle. It serves as the eastern gateway to Hanoi, with a total natural area of 923 km² and a population of nearly 1.3 million people.

Positioned near Hanoi, Noi Bai Airport, Hai Phong Port, and Cai Lan Port, Hung Yen offers flat terrain, abundant resources, a proactive, dynamic, and friendly government, and a highly skilled workforce. These factors make Hung Yen an ideal location for all forms of investment. The province can attract skilled labor, especially from Hanoi, for major investment projects. Currently, over 4,000 technicians and managers from Hanoi work in Hung Yen.

Hung Yen – A Land of Cultural Heritage

Hung Yen is a culturally rich province, preserving thousands of valuable historical sites. The province boasts 1,802 monuments, including 3 recognized as national special relics, 172 as national relics (ranking third nationwide in the number of national relics), and 257 as provincial relics. These are invaluable assets, forming the core of national cultural identity and a source of pride for Hung Yen residents.

Hung Yen also features modern and well-planned urban areas, such as Ecopark, V-GreenCity Pho Noi, V-GreenCity Urban Area, Pho Noi B Urban Area, and Pho Hien University Urban Area in Hung Yen City and Tien Lu District.

Re-establishment of Hung Yen Province on January 1, 1997

After nearly 30 years of being merged with Hai Duong Province to form Hai Hung Province (1968-1996), Hung Yen was re-established on January 1, 1997. Over 25 years, the province’s economy grew at an average annual rate of 10.2% from 1997 to 2021. Its budget revenue increased 200 times, transforming Hung Yen from one of the three provinces with the lowest budget revenues into one of 16 provinces and cities capable of balancing its budget.

The province’s economic structure has shifted significantly from agriculture to industry and services. Agriculture has been restructured toward clean and ecological production, with a focus on large-scale, high-value activities. Socio-economic infrastructure, particularly transportation and urban systems, has been modernized. Hung Yen has become an attractive investment destination, hosting 1,559 domestic projects and 499 foreign-invested projects by the end of 2021, with registered capital equivalent to $16.5 billion and over 13,000 active enterprises.

GEOGRAPHICAL LOCATION

Hung Yen City serves as the administrative center of Hung Yen Province. Its geographical borders are:

East: Hai Duong Province
West: Hanoi and Ha Nam Province
South: Thai Binh Province
North: Bac Ninh Province

ADMINISTRATIVE UNITS

The province is divided into 10 administrative units:

1 city: Hung Yen City
1 town: My Hao Town
8 districts: An Thi, Khoai Chau, Kim Dong, Van Giang, Yen My, Van Lam, Phu Cu, and Tien Lu.

POPULATION AND EDUCATION LEVELS

In 2020, Hung Yen had a population of 1,269,090 (ranked 28th nationwide), with an average density of 1,364 people/km² (ranked 4th). Of this, 16.53% resided in urban areas, while 83.47% lived in rural areas. The working-age population included 722,006 individuals, with 26.35% of employed individuals trained professionally.

TRANSPORTATION SYSTEM

Hung Yen, as the eastern gateway to Hanoi, is strategically positioned with 23 km of National Highway 5A and 20 km of the Hanoi-Hai Phong railway. It also connects to major highways like National Highway 39A, 38, and 10, forming crucial links between northern and southern provinces and key economic regions.

Hung Yen Province Industrial Parks

Hung Yen has 13 industrial parks and 35 industrial clusters, with 7 parks operational, covering a planned area of approximately 1,700 hectares. Key parks include Pho Noi A, Pho Noi B (textile and garment), Thang Long II (Mitsutomo Japan), Minh Quang, Minh Duc, Viglacera Yen My, and Yen My II. These parks produce textiles, footwear, automobiles, electronics, and processed foods, emphasizing industrial and service-oriented economic growth.

In 2021, the province recorded:

32 new projects operational in industrial parks, creating 8,000 jobs.
31 new investment projects and 45 capital adjustments, amounting to $611 million in total capital.
Approval of 4 new industrial parks by the Prime Minister:
- Pho Noi A Expansion (92.5 ha)
- Clean Industrial Park (143.06 ha)
- Industrial Park No. 5 (192.64 ha)
- Industrial Park No. 3 (159.71 ha)

By leveraging its geographical advantages and proactive development strategy, Hung Yen continues to assert its role as a key economic driver in Northern Vietnam.