High-tech growth drives investment surge in Hung Yen

High-tech growth drives investment surge in Hung Yen

Hung Yen attracted over $840 million in investment in seven months, driven by industrial upgrades, policy reforms, and growing investor confidence in the province’s development prospects.

In the first seven months of 2025, the northern province of Hung Yen has successfully attracted registered investment capital exceeding $840 million, achieving 84 per cent of its full-year target.

This notable performance underscores the continuous improvements in the province's investment environment, which has been bolstered by favourable policies aimed at both domestic and foreign investors.

These efforts have paved the way for large-scale investments that are playing a key role in driving the region's economic growth.

Thang Long Industrial Park II in Hung Yen province

July alone saw Hung Yen secure 64 new ventures, including 35 foreign-invested projects, which collectively brought in $352 million, and 29 projects backed by domestic funds, amounting to approximately $360 million. Beyond attracting new investors, existing ones have also shown increasing confidence by expanding their current projects.

Over the first seven months of the year, 35 projects received capital adjustments, reflecting this growing trust.

Of these, 26 foreign-led projects saw an infusion of $114 million, while nine domestic projects received an additional $14 million. In July, Hung Yen also welcomed nine new projects, with overseas-backed projects contributing $73.4 million and local projects adding $22.56 million. Additionally, one foreign project saw a capital increase.

The province’s success is attributed to its ongoing efforts in administrative reform, the synchronous development of industrial zone infrastructure, and a focus on sustainable growth.

These initiatives are solidifying Hung Yen’s position as a key national hub for high-tech industries. Major international investors, such as Kyocera, Inax, Canon, ToTo, Nitto, Hoya, and Molex, have established long-term production bases in the province, recognising its potential as a thriving industrial centre.

A particularly significant development occurred on July 1, when Hung Yen officially merged with Thai Binh province. This expansion allows for greater development opportunities and the creation of a comprehensive industrial ecosystem.

The merger has created a continuous industrial corridor running from Pho Noi and Thang Long Industrial Park II to IP No. 5, Tien Hai, and Lien Ha Thai industrial parks.

This extended industrial corridor is facilitating the development of a closed-loop supply chain, optimising logistics, reducing production costs, and accelerating time-to-market.

In July, the province’s industrial parks saw a total of $45.2 million in disbursed investment capital. By the end of the month, the total realized investment capital reached approximately $46.8 million, fulfilling 55 per cent of the annual target.

Secondary projects contributed the lion’s share, with $42 million disbursed, demonstrating the powerful ripple effect created by secondary investors within Hung Yen’s industrial ecosystem.

These results came by virtue of decisive shifts in governance, proactive administrative reforms, and ongoing infrastructure upgrades. The province has worked to address land-related bottlenecks, shorten investment procedures, and foster a business-friendly environment.

Well-planned industrial parks, increasingly complete technical infrastructure, and robust production support services are key advantages that have made Hung Yen an attractive destination for investors.

With the current momentum, Hung Yen is on track to exceed its annual investment targets, playing a critical role in the region’s socioeconomic development.

VIR