Hung Yen’s economy expands as investment and industry drive 2025 growth

Hung Yen’s economy expands as investment and industry drive 2025 growth

Hung Yen posted robust economic gains in the first nine months of 2025, driven by industrial growth, record budget revenue, and a sharp rise in public and private investment.

Along with this, the province's regional GDP in the first nine months of 2025 reached approximately $4.59 billion, marking on-year growth of 8.01 per cent. This places the province 16th out of 34 localities nationally in terms of growth.

According to Hung Yen Statistics Office, the province's total production value during this period amounted to roughly $17.5 billion, representing a 9.3 per cent increase compared to the same period last year.

Within this, industry and construction grew by 10.2 per cent, while services expanded by 7.9 per cent. Agricultural production also showed a positive recovery, with the combined value of agriculture, forestry, and fisheries reaching around $1.28 billion, up 2.6 per cent on-year.

Hung Yen city's urban area

The Index of Industrial Production for the province rose by 11.5 per cent over the same period.

By September 30, Hung Yen's state budget revenue had exceeded $2.84 billion, equivalent to 128.3 per cent of the annual estimate, its highest level ever recorded.

The province attracted 253 new ventures and approved adjustments to 209 existing ones. Total newly registered and supplementary capital amounted to approximately $5.11 billion, including $1.59 billion in foreign direct investment.

Investment flows have notably shifted towards processing industries, clean energy, and infrastructure development.

In terms of enterprise development, Hung Yenlicensed 4,142 new businesses with a combined registered capital of about $2.26 billion. Total social investment capital reached around $4.21 billion, reflecting an 11.7 per cent increase on-year.

Public investment disbursement was closely monitored and aligned with the progress of key infrastructure projects, social housing, and those scheduled for inauguration or groundbreaking in 2025.

As of September 24, the disbursed amount stood at approximately $773.3 million, or 47.9 per cent of the capital plan assigned by the prime minister.

Parallel to its economic development efforts, Hung Yen People's Committee focuses on finalising the two-tier local government model. To date, the system has been operating in a stable manner, meeting the practical needs of both citizens and businesses.

The province also recorded significant progress in administrative reform, digital transformation, and business environment improvement. Notably, Hung Yen's Provincial Competitiveness Index in 2024 ranked among the top 10 for the first time.

Nguyen Khac Than, Chairman of Hung Yen People's Committee, chairs the September meeting. Photo: Tat Dat

To meet the socioeconomic development goals set for 2025, at a September meeting, Nguyen Khac Than, Chairman of Hung Yen People's Committee, urged departments and localities to rigorously implement directives from the central government, Hung Yen Party Committee, and the committee.

He emphasised the need to review and comprehensively evaluate growth targets, scenarios, and solutions for the remaining months of the year, with particular focus on site clearance for major projects.

Chairman Than assigned Project Management Boards No.1 and No.2 to reassess the schedules for public investment disbursement and strive to fulfill the disbursement plan by year-end.

“Simultaneously, efforts must gear towards promoting science and technology, innovation, and digital transformation, particularly in healthcare, education, agriculture, and the environment, along with accelerating proposals to establish a high-tech industrial park in the province,” he stated.

VIR