The Province Next to Hanoi Aims for Centrally-governed City Status by 2050, Welcoming a 26,000 Billion VND Investment Flow

The Hung Yen People’s Committee and the Ministry of Planning and Investment have granted investment registration certificates and investment approval decisions to 24 projects with a total capital of 760 million USD and 10,000 billion VND (over 26,000 billion VND) in the fields of industrial park, urban, commercial, electronic, logistics, furniture, electronic components, and mechanical infrastructure development to domestic and foreign investors.

For instance, Arizon Technology Company shared that after researching 20 countries and territories worldwide, they decided to invest in a high-tech electronics factory in Hung Yen to manufacture RFIA (Radio Frequency Identification) products, aiming to be the world’s largest factory in this field.

Numerous Advantages, Strengths, and Potential for Development

The planning clearly states that Hung Yen has a favorable geographical location within the Northern Key Economic Region, at the center of the Red River Delta, and serves as the eastern gateway to Hanoi, with close proximity to Hai Phong port and Noi Bai airport. The province boasts convenient connectivity to a well-developed transport system, especially the Hanoi-Hai Phong-Quang Ninh highway, and benefits from a flat topography and fertile land.

Hung Yen has a strong industrial foundation with various key industrial products and large industrial parks (Pho Noi A, Pho Noi B, Thang Long II, Nhu Quynh, Minh Duc, Kim Dong, and Quan Do…).

The province also holds great potential for high-tech agriculture and livestock farming, known for its specialty products such as lychee, Khoai Chau pink banana, Dong Tao chicken, lychee blossom honey, Quang Chau and Van Giang oranges, Bun tofu, and ornamental plants…

Hung Yen has a significant scope for tourism development, especially eco-tourism, cultural tourism, and spiritual tourism. The province is a land of cultural heritage, ranking second in the country for its nationally-recognized relics (with over 1,800 historical relics, including Xich Dang Van Mieu, Tran Temple, Den Mau, Chuong Temple, Chu Dong Tu-Tien Dung Relic, and Tong Tran-Cuc Hoa Relic).

Hung Yen’s strength in human resources stems from its population of approximately 1.3 million people and a well-developed education and training system. The people of Hung Yen are known for their patriotic and revolutionary traditions, a passion for learning, respect for teachers, diligence, creativity, unity, and compassion…

Speaking at the conference, Prime Minister Pham Minh Chinh appreciated Hung Yen’s vast potential, opportunities, and favorable conditions for breakthrough development, describing it as a “land of geographical advantages and talented people.” He emphasized the need to further promote innovation, science, and technology, with a higher, farther, and broader vision.

During the 2021-2023 period, the average GRDP growth rate reached 10.71%, more than twice the country’s average growth rate (5.24%). Hung Yen’s economic scale ranked 16th out of 63 provinces and cities, with a positive shift in economic structure, as industry and services accounted for over 90%. In the first six months of 2024, the estimated GRDP growth rate was 6.81%. Tax revenue consistently exceeded plans, and in 2022 and 2023, the province was among the top 10 localities in the country in terms of tax revenue.

The province has attracted significant investment capital, and as of June 2024, it had over 17,300 enterprises with a total registered capital of 212 trillion VND. There were 1,686 domestic projects with a total capital of 340 trillion VND and 577 FDI projects with a total capital of 7.5 billion USD. The Prime Minister particularly praised the Thang Long II Industrial Park in Hung Yen for its unique design, featuring a canal instead of a solid fence, abundant greenery, and a harmonious, efficient, safe, and eco-friendly environment.

Socio-economic infrastructure, especially strategic infrastructure in transportation, industry, urban, and rural areas, has been synchronously invested in, with many dynamic projects and works. The urbanization rate reached 45%, creating a premise for the formation of large, modern, intelligent, and eco-friendly urban areas. The rural landscape has undergone significant changes, and Hung Yen was the third province to achieve the completion of the new rural construction program.

Administrative procedure reform has been promoted in association with digital transformation and the development of e-government and digital government. The PCI index has improved remarkably, rising 41 ranks from 53rd to 12th out of 63 provinces and cities in the 2021-2023 period.

The material and spiritual lives of the people have been improved, and social security has been ensured, allowing people to enjoy the fruits of development. The poverty rate has decreased significantly, reaching 0.86% in 2023, with a target of below 0.5% by 2025.

Party building and political system development have been given attention, and the leadership, direction, and administration of party committees and authorities at all levels have been enhanced. Political security and social order and safety have been maintained.

Regarding geographical location, the Prime Minister noted that “Hung Yen has many areas closer to Hanoi than Hanoi itself.” Located in the heart of the Red River Delta, the province needs to capitalize on this advantage by developing three critical routes to bring Hung Yen closer to Hanoi, Hai Phong, and other major economic centers and provinces in the southern Red River Delta.

These include the route connecting the Hanoi-Hai Phong expressway with the Phap Van-Cau Gie expressway, which has been inaugurated, the Tan Phuc-Vong Phan route, which has just been started, and the heritage route along the Red River, which is expected to commence construction by the end of 2024.

Along with the substantial achievements, Hung Yen still faces certain difficulties, limitations, and challenges. The province’s economic development has not fully utilized its potential and advantages, especially in regional linkage; science, technology, and innovation have not become strong drivers of development; the quality of human resources needs improvement; there is a lack of large enterprises with strong brands and competitiveness; administrative procedure reform requires further effort; and land, resource, and environmental management needs to be more effective. The Prime Minister cited the example of pollution in the Bac Hung Hai River, which needs to be addressed in the coming time.

The planning has concretized the Resolution No. 30-NQ/TW dated November 23, 2022, of the Politburo on the socio-economic development orientation and regional defense and security assurance of the Red River Delta by 2030, with a vision towards 2045. It reflects the aspirations and makes an important contribution to realizing the goal of developing Hung Yen into a prosperous, modern, civilized, and happy province.

“The planning identifies the distinctive and outstanding features of Hung Yen compared to surrounding provinces, promoting non-overlapping and mutually supportive development,” the Prime Minister assessed.

The planning objectives are clear: by 2030, Hung Yen will become a modern industrial province, with an economic scale and development level among the leading provinces in the country; by 2050, it will become a centrally-run city, a smart, prosperous, civilized, and culturally rich city, promoting the core values of the ancient Pho Hien town; and a desirable place to live in the Red River Delta.

To achieve these goals and contribute to the “Red River miracle,” Hung Yen must actively implement and concretize the planning. The Prime Minister emphasized the following key orientations: organizing the socio-economic space according to the “network” model, integrating multiple poles, and relying on the development framework of 02 regions, 02 corridors, 05 axes, and 03 centers as specified in the planning; effectively implementing the orientations for developing industries, agriculture, and services; and focusing on strategic breakthroughs (institutions, infrastructure, and human resources).

The Prime Minister suggested that Hung Yen follow the principle of “1 concentration – 2 strengthening – 3 promotion.”

“1 concentration” refers to concentrating resources and utilizing all legal means to promote traditional growth drivers (investment, export, and consumption) and creating breakthroughs in new growth drivers (green economy, digital economy, circular economy, sharing economy, knowledge-based economy, climate change response, and sustainable development…

“Industrial parks must selectively attract investment in high technology to enhance workers’ skills, productivity, and income, thereby improving people’s material and spiritual lives,” the Prime Minister emphasized.

“2 strengthening” includes: (1) Strengthening investment and human resource development (improving people’s knowledge, training high-quality human resources, fostering talents, ensuring social security, and promoting social equity and progress); and (2) Strengthening regional connectivity within the country and internationally through transportation systems, production and supply chains…

“3 promotion” encompasses: (1) Promoting the development of strategic and comprehensive infrastructure (transportation, digital transformation, healthcare, education, and social infrastructure…); (2) Promoting industrial development for processing, manufacturing, and supply chains, especially in sectors with strengths, and maximizing unique potentials, competitive advantages, and outstanding opportunities; and (3) Promoting the application of science, technology, and innovation to create stable jobs and sustainable livelihoods for the people.