Hung Yen looks to become "promising land" for foreign investors (Photo: VNA)Hung Yen (VNA) – The northern province of Hung Yen has focused on creating a safe, effective and competitive investment environment to turn the locality into a “promising land” for enterprises, particularly foreign investors.
Secretary of the provincial Party Committee Nguyen Huu Nghia affirmed that the province has set a goal to become an industrial hub and an attractive, safe, competent investment destination in its development strategy from now to 2023 with a vision to 2045.
Under the strategy, Hung Yen pursues the strategic goal of developing modern industry and efficient agriculture towards rapid and sustainable growth on the basis of three pillars of high economic growth, harmonious society and well protected environment and ecology.
According to the secretary, the province is an enticing investment destination due to several outstanding factors, including a convenient geographical location with a central position in the rapidly developing Red River Delta region and adjacent to the capital of Hanoi.
He noted that the province attracts investors thanks to a convenient geographical location in the centre of the fast-growing Red River Delta and adjacent to Hanoi capital, developed trade and transportation infrastructure with convenient linkage to Noi Bai international airport, Hai Phong international port and major economic, commercial and industrial centres of the country.
Besides, Hung Yen boasts a rich network of tangible and intangible cultural heritages and was once a major economic centre. Lastly, the province has an abundant, highly skilled, and hard-working workforce.
The province currently has 17 industrial parks with total area of nearly 4,395 hectares, and has and will continue to invest in building modern, standard and synchronous technical infrastructure for the IPs so as to meet the demand of foreign investors and high-tech industrial projects.
The number of industrial parks in the province is expected to increase in the coming time, reaching 30 industrial parks with 9,540 hectares by 2030.
In addition, there are 25 industrial clusters with total area of over 1,200 hectares. The number is expected to increase to 52 with an area of 3,000 hectares by 2030.
Currently, the province is focusing on developing a synchronous industrial ecosystem, with priority given to specialised industrial, eco-industrial, high-tech industrial and supporting industrial parks, industry clusters. It is also shaping a complete living ecosystem including new urban areas, housing areas, medical and educational as well as cultural, sports, entertainment facilities to meet living and working needs of experts, leaders, business managers and workers.
The secretary affirmed that Hung Yen provincial government remains committed to creating a safe, open, effective investment environment and continuously improving provincial competitiveness so that the province can become a safe destination and an ideal choice for investors.
Recently, Hung Yen has awarded investment certificates to 14 projects in the province, with total capital amounting to 732 million USD. Among them, the new Nitto Vietnam factory project in Thang Long Industrial Park II has the largest investment capital with 132 million USD. The factory specialises in producing LCD polarised films used for smartphones and cars, with a capacity of 176 tonnes or 48 million products a year.
According to the province's Management Board of Industrial Parks, in recent years, Hung Yen has promoted foreign investment attraction while creating favourable conditions for foreign investors investing in the province.
The province is now home to 516 valid foreign-invested projects worth over 6.3 billion USD. Foreign investors come from many countries and territories, including the US, Japan, the Republic of Korea, among others. Japan leads in the number of projects with 173 with total registered capital of more than 4 billion USD, 169 of them have become operation, creating jobs for about 45,000 workers, contributing over 1.4 trillion VND (58 million USD) to the state budget in 2022 and about 880 billion VND in the first half year of 2023./.
