Making a strong impression in the 2020-2025 term
In the 2020-2025 term, Hung Yen marked a strong transformation in economic development when synchronously implementing many mechanisms and policies to encourage all types of enterprises, especially the private economic sector and foreign-invested enterprises.
The whole province currently has 27,659 enterprises, an increase of nearly 3 times compared to 2020. In the period of 2021-2025, 14,186 new enterprises were established, with a total registered capital of more than 200,199 billion VND, an increase of 47.6% in the number of enterprises and 126.9% in capital compared to the period of 2016-2020.
In August 2023, the People's Committee of Thai Binh province (old) issued a decision approving investors for a number of commercial housing development projects.
Investment attraction continued to achieve impressive results with 912 newly licensed projects, including 555 domestic projects and 357 FDI projects, with total registered and increased capital of more than VND 368,194 billion and nearly USD 10 billion. As of August 2025, Hung Yen welcomed 232 new projects and 194 capital increases, with total investment capital reaching VND 119,299 billion and USD 1.554 billion.
Up to now, the province has 3,908 valid projects, including 3,010 domestic projects with a total capital of VND 645,396 billion and 898 FDI projects with a total capital of USD 16.23 billion. Many projects focus on industrial park infrastructure, high technology, supporting industry, environmental friendliness, in line with the province's sustainable development orientation.
Not only attracting investment, Hung Yen also strongly expanded its industrial infrastructure. In the period of 2021-2025, the province established 8 new industrial parks and 26 industrial clusters. By the end of June 2025, Hung Yen had 1 economic zone, 23 industrial parks (of which 5 were located in the economic zone) with an area of over 5,891 hectares, with an occupancy rate of 64.9%; along with 74 industrial clusters, with an area of 3,931 hectares, of which 34 clusters were in operation.
Industrial zones and clusters are increasingly asserting their role as “locomotives” in attracting investment, replacing the previous model of small-scale investment outside the planning area. In particular, Hung Yen Economic Zone (formerly Thai Binh) is being invested in synchronous technical and social infrastructure, becoming a “bright spot” attracting large capital flows, contributing to the formation of a new growth center, creating a driving force for sustainable economic development for the whole province.
Cau Nghin Industrial Park (Hung Yen) is attracting many businesses to invest in production.
Three strategic breakthroughs, five pillars of development
The political report of the 1st Hung Yen Provincial Party Congress, term 2025-2030, clearly stated that one of the three strategic breakthroughs mentioned is the development of a synchronous socio-economic infrastructure system, in which digital infrastructure and transportation are considered the focus.
The province prioritizes the development of multimodal transport infrastructure, linked to seaports, highways, and national highways, ensuring connectivity between Hung Yen and Hanoi and the provinces of the Red River Delta and the Northern Coastal region. Investment is oriented towards economic, industrial, urban, commercial, and tourism axes to form a space for regional development and create new growth drivers.
Red River Bridge, connecting Hung Yen with Ninh Binh on the coastal road.
With the goal of rapid, comprehensive and sustainable development, Hung Yen province relies on 5 main pillars: Developing modern industry, applying high technology, using resources and labor economically and being environmentally friendly on the basis of creating a synchronous industrial ecosystem. Developing clean, ecological agriculture, applying high technology, large-scale production, high added value. Strongly developing a modern, smart urban system, developing urban economy and high-quality services, trade and tourism.
Developing clean energy (offshore wind power, biomass power, LNG power, green hydrogen, etc.) will soon make Hung Yen the energy center of the Red River Delta. Developing the marine economy with a multi-sector free economic zone model on the basis of converting existing economic zones associated with sea encroachment... forming a growth pole of the Red River Delta and the North of the country.
At the same time, the province continues to perfect synchronous mechanisms and policies, promote administrative reform, comprehensive digital transformation, towards digital government, digital economy, and digital society. Solutions all focus on improving the investment and business environment, enhancing transparency and publicity, creating the most favorable conditions for people and businesses.
Thai Binh Thermal Power Plant on Tra Ly River (Hung Yen).
In particular, Hung Yen identifies the private economy as an important driving force and lever to promote growth, contributing to unlocking resources, removing bottlenecks, maximizing local potential and advantages, aiming for breakthrough and sustainable development in the new period.
The province creates all favorable conditions for private enterprises and foreign-invested enterprises to establish and operate long-term in the province; strengthens inspection, supervision, rectification, and strict handling of violations in business activities.
At the same time, synchronously deploy mechanisms, policies and resources to encourage and support private economic development; support and facilitate start-up activities, especially small and medium-sized enterprises, to have equal access to resources, expand scale, innovate technology, digitally transform, and gradually form large, highly competitive enterprises.
Mr. Nguyen Khac Than - Chairman of Hung Yen Provincial People's Committee - affirmed that the province is committed to always listening to and accompanying businesses, creating the most favorable conditions for the sustainable development of the business community. (Photo: Tat Dat)
Recently, at a meeting and working session with infrastructure investors and some investors in industrial parks in the province, Mr. Nguyen Khac Than - Chairman of the People's Committee of Hung Yen province - affirmed: The province always identifies industry as an important growth driver, a pillar in the economic structure.
Hung Yen is determined to develop in a modern, sustainable direction, associated with environmental protection and social security; prioritizing the attraction of high technology, supporting industry, and green industry. The province also focuses on effectively using industrial park land, developing synchronous infrastructure, improving people's lives and building a transparent and attractive investment environment.
The Provincial People's Committee pledges to always listen to and accompany businesses, creating the most favorable conditions for the sustainable development of the business community; at the same time, continue to research and develop specific mechanisms and policies to propose to the Central Government and direct effective implementation, in order to best exploit them.
Source: https://vtcnews.vn/hung-yen-but-pha-thu-hut-dau-tu-khoi-day-suc-bat-phat-trien-ben-vung-ar968376.html
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