Hung Yen proposes Free Economic Zone to boost regional growth

Hung Yen proposes Free Economic Zone to boost regional growth

The northern province of Hung Yen is developing a proposal to establish a Free Economic Zone (FEZ), aiming to harness its strategic potential, create a socioeconomic breakthrough, and generate fresh momentum for the coastal areas of the Red River delta and the broader national economy.

On August 12, Deputy Prime Minister Ho Duc Phoc, a member of the Party Central Committee and head of Government Task Force 5, chaired a working session with provincial leaders at the Hung Yen Information and Convention Centre.

Deputy Prime Minister Ho Duc Phoc delivering directives at the meeting. Photo: Nguyen Quynh

During the meeting, Nguyen Quang Hung, Standing Vice Chairman of Hung Yen People’s Committee, reported that the province’s regional GDP (GRDP) grew by an estimated 8.1 per cent on-year in the first half of 2025.

As of August 11, total state budget revenue had approximated $2.46 billion, exceeding 115 per cent of the annual target.

In the first seven months of the year, the province’s industrial production index rose 11.2 per cent, while total retail sales of goods and consumer services amounted to $4.57 billion, up 7.7 per cent on-year.

Export value reached $7.01 billion, a 19.8 per cent increase over the same period in 2024, while imports totalled $5.37 billion, up 20.6 per cent.

Hung Yen's export network now spans more than 100 countries and territories, with significant gains through the implementation of new-generation free trade agreements.

New and supplemental investment inflows in the first seven months totalled $6.05 billion, underscoring the province’s growing appeal to investors post-merger.

Regarding public investment, Hung Yen had disbursed approximately $677 million as of July 31, achieving 44 per cent of the target assigned by the PM.

To achieve its full-year GRDP growth target of 10.5 per cent for 2025, the province is focusing on decisive and efficient governance, along with the implementation of resolutions from the central government, Hung Yen Party Committee, the People’s Council, and the People’s Committee.

Post-merger Hung Yen is prioritising investment attraction in several key sectors: industrial park and cluster infrastructure, high-tech agriculture, trade and logistics, urban development (including eco-urban, resort, and service-oriented areas), transport infrastructure, healthcare, and advanced waste treatment. The province also places special emphasis on developing a marine-oriented economic zone, particularly through the Thai Binh Economic Zone.

The proposed Hung Yen FEZ, based on the former Thai Binh Economic Zone, now under Hung Yen’s jurisdiction, aligns with the Prime Minister's directives during a working session with former Thai Binh leaders. It aims to capitalise on regional advantages and foster long-term economic momentum.

Hung Yen is instructing relevant departments and agencies to coordinate with consulting units to prepare a detailed plan for the FEZ, with a long-term vision to develop it into one of the most dynamic economic zones in Vietnam.

At the meeting, Nguyen Khac Than, chairman of Hung Yen People’s Committee, highlighted that the province has proactively restructured its administrative system to improve efficiency.

“The two-tier local government model is functioning smoothly, meeting the needs of both residents and businesses,” he said, affirming that the province has maintained strong leadership in propelling socioeconomic development, striving to deliver comprehensive results that contribute to national progress.

To accelerate development, Hung Yen proposed that the central government, Prime Minister, and relevant ministries consider several key issues.

These include approving the policy to establish the FEZ; allowing the development of a special policy framework tailored to the zone; granting investment approval for Diem Dien Port to handle vessels of up to 200,000 tonnes; designating the 10-lane road connecting Thai Binh ward and Pho Hien ward as a priority project for accelerated implementation; and adjusting rice land use quotas to align with the updated provincial plans for Hung Yen and pre-merger Thai Binh, in response to rising development needs.

A government delegation working with Hung Yen province. Photo: Nguyen Quynh

During the session, leaders from ministries and agencies under Task Force 5 provided feedback, clarifications, and proposed solutions to address the province’s requests.

In his concluding remarks, Phoc praised Hung Yen’s achievements in administrative reform, effective governance, and socioeconomic growth.

He emphasised that the province holds significant advantages in terms of geographic location, natural conditions, and cultural heritage, which position it well for continued breakthroughs.

“It is important for Hung Yen to focus on attracting investment in clean and high-tech industries and agriculture, design investment-friendly mechanisms, optimise land use planning, efficiently expedite public investment disbursement, and enhance transportation infrastructure, including roads, inland waterways, and seaports,” said the DPM.

He also encouraged the province to prioritise science and technology development, promote digital transformation, and accelerate administrative reform to support business operations.

Phoc expressed his support for the establishment of Hung Yen FEZ and recommended that the province choose the most optimal model to ensure the zone’s success.

On land-related matters for specific projects, he requested early reporting, so the government can assign the Ministry of Agriculture and Environment to devise appropriate solutions. Other provincial proposals have been recorded by the Task Force for submission to the PM.

VIR