Red River Delta's economy sees a shining light in Hưng Yên's presence
Hung Yen Province: A Beacon of Economic Growth in Northern Vietnam
Hung Yen Province, strategically located between Ha Noi and Haiphong, has been attracting domestic and foreign investors due to its convenient transport connections. In 2021, the province experienced significant economic growth, driven by key projects, substantial investment, and industrial development aligned with its 2021–2030 development plan.
The backbone of Hung Yen's economic growth was its industrial development and investment. Large-scale industrial zones and clusters, particularly those attracting Japanese investment, contributed significantly to job creation, state budget revenues, and the overall industrial activity. By mid-2025, Japan's investments included 165 operational projects with realized capital around $3.2 billion, creating approximately 35,800 jobs and contributing about VND908 billion in state budget revenue.
Infrastructure and healthcare projects also received a boost in 2021. The Heritage Highway, linking cultural heritage tourism with economic development along the Red River, was budgeted at approximately U.S. $386 million for 2025-2027. Additionally, a $104 million special-class hospital project was launched in 2025 to enhance health services capacity.
The growth projections for Hung Yen Province indicate a strong industrial and economic expansion foundation. The provincial five-year growth projection (2021–2025) targets an average rate of around 7.9%, with an expected total production value near VND130,000 billion. This growth aligns with Vietnam's national economic recovery and growth strategy post-pandemic, aiming for sustained growth driven by foreign investment, export orientation, and industrial upgrading.
Chairman Nguyen Khaac Than stated that Hung Yen is committed to optimizing resources, improving administrative efficiency, and promoting sustainable development. Local authorities expect the growth momentum of Hung Yen to continue in the coming months, contributing significantly to the Red River Delta's economic expansion.
Hung Yen has prioritized human resources training to meet the needs of enterprises, particularly those requiring skilled labor. The focus of Hung Yen's investment environment is on high-value sectors such as advanced manufacturing, renewable energy, and high-tech agriculture.
As of the end of June, Hung Yen Province had 3,888 valid projects, including 890 foreign-invested projects with total registered capital of $16.05 billion. The provincial People's Committee is focusing on creating a transparent and competitive investment environment.
In the first half of the year, Hung Yen Province granted licenses to 213 new projects and approved capital adjustments for 193 existing ones. Hung Yen is expediting 18 key projects, including five major transport works, one large-scale industrial park, seven industrial clusters, four residential projects, and a thermal power plant.
Hung Yen's continued growth is expected to further solidify its role as an economic bright spot in the region. In the same period, 4,313 newly established enterprises were welcomed in Hung Yen Province, a 65% increase compared to the previous year. However, no new investment figures or number of projects were mentioned in this paragraph.
Industrial production and services are driving economic growth in Hung Yen Province, supported by the expansion of modern industrial parks and high-tech clusters. No new information about the number of valid projects or registered capital was provided.
Despite not having the latest figures, it is clear that Hung Yen Province is one of the most dynamic economies in the Red River Delta. Its strategic location, commitment to development, and focus on high-value sectors make it an attractive destination for investors.
- The economic growth of Hung Yen Province, which is a beacon of economic growth in Northern Vietnam, is not only driven by industrial development but also supported by investments in high-value sectors such as advanced manufacturing, renewable energy, and high-tech agriculture.
- In order to promote sustainable development and optimize resources, Hung Yen Province prioritizes the training of human resources to meet the needs of enterprises.
- The continued expansion of modern industrial parks and high-tech clusters in Hung Yen Province contributes to driving industrial production and services, making it an attractive destination for investors.
- The growth of Hung Yen Province, with its focus on AI, finance, and the AI industry, is significantly improving the culture and environment of the region, aligning with its 2021–2030 development plan and contributing to Vietnam's national economic growth strategy.
