Hung Yen Province embraces 21st century

Encouraging socioeconomic achievements

Since it was re-established in 1997, Hung Yen Province has achieved encouraging socioeconomic achievements and undergone comprehensive changes. Initially a poor province, mostly reliant on agriculture and rice cultivation, Hung Yen has restructured its economy to increase the contributions of industry and services to its gross regional domestic product (GRDP).

Infrastructure in Hung Yen Province has become increasingly modern

Hung Yen has realized consistent solutions to control the COVID-19 pandemic and at the same time boost socioeconomic recovery and development. To that end, it is seeking international cooperation to attract investment.

In the first nine months of 2022, the province obtained encouraging socioeconomic achievements, including budget revenues estimated at almost VND45.224 trillion, an increase of 240.43 percent over the same period last year and 231.63 percent of the 2022 target. Development investment capital hit more than VND40.263 trillion, up 49.63 percent over the same period last year. The province attracted an additional 11 foreign investment projects with total registered capital of US$95.477 million. Hung Yen’s index of industrial production (IIP) in September and the first nine months of 2022 grew 11.08 and 10.23 percent compared to the same periods last year, respectively. In September, the processing and manufacturing sector grew 12.61 percent, while electricity production and supply increased 12.11 percent, and water supply and waste and wastewater management and treatment decreased 14.02 percent. Retail sales of goods and services totaled almost VND31.911 trillion, up 17.51 percent over the same time in 2021.

Minister of Industry and Trade Nguyen Hong Dien (seventh from right) attends an event promoting online sales of Hung Yen Province’s high quality longans

State management of industry has been strengthened. Hung Yen has prepared an industrial restructuring project for the 2021-2025 period, with a vision to 2030, and issued plans to honor outstanding rural industrial products in 2022. Site clearance and investment serving industrial park infrastructure development have been promoted.

The prime minister has approved investment policies for infrastructure in Thang Long II Industrial Park’s phase 3 and the expanded Yen My II Industrial Park. Production and trading enterprises are further expanding operations. The COVID-19 pandemic is under control in the province, while commercial and service businesses have returned to normal, effective operation.

Leaders of Hung Yen Province attend an online meeting between the prime minister and businesses

Modern industrial and highly efficient agricultural province

Modern industry, development of trade and services pertaining to urbanization acceleration, and ecological and high-technology agriculture will become the three major driving forces of Hung Yen’s development in the coming years.

According to the resolution of the 19th provincial Party Congress, Hung Yen will develop on a fast and sustainable basis to become a modern industrial and highly efficient agricultural province by 2025. The province has set targets related to industrial development, urbanization, exemplary new rural areas, and efficient, safe and sustainable commodity-oriented agriculture, with a view to turning into a centrally governed city by 2030.

High quality longan, a specialty of Hung Yen Province

Hung Yen has also set a target of becoming a smart city capable of bringing into full play cultural and historical values ​​of its ancient Hien Street, and a beautiful, civilized province with cultural diversity renowned in the center of the Red River Delta.

Hung Yen will focus on attracting domestic and foreign investment, especially large-scale, high-tech, support industry and digital technology projects, multinational corporations and other major investors.

Plans also call for developing socioeconomic infrastructure, especially transport infrastructure, and a high-quality workforce.