In the first quarter of 2025, Hung Yen Province – strategically located adjacent to the capital city of Hanoi – reaffirmed its strong appeal to both domestic and international investors by successfully attracting 23 new projects in its industrial zones, with total registered capital reaching nearly USD 480 million.
Robust Investment Surge from the Outset of the Year
According to the Hung Yen Industrial Zones Authority, the 23 newly approved projects include 16 foreign direct investment (FDI) projects and 7 domestic direct investment (DDI) projects. Newly registered and adjusted FDI totaled USD 196.2 million, while DDI amounted to VND 1,545 billion (approximately USD 283.2 million). This represents 28.3% of the annual plan and 69% of the figure for the same period in 2024 – a promising start toward the province’s ambitious growth targets.
Notably, actualized investment in the province's industrial zones reached VND 4,900 billion, a dramatic 175% increase year-on-year, accomplishing 23.3% of the 2025 plan. This remarkable growth indicates a strong shift of investment flows into Hung Yen, especially as Vietnam continues to gain global prominence within supply chains.
Strategic Planning – A Long-term Driver of Industrial Growth
Hung Yen currently has 10 operational industrial zones with a total area of 2,773 hectares. Under its development plan through 2030, the province will expand 4 existing zones and develop 30 new ones, increasing the total industrial land area to 9,588 hectares. Beyond 2030, the province plans to establish an additional 5 industrial zones, covering 2,460 hectares.
This well-structured and forward-looking zoning strategy not only creates space for new investments but also accelerates the province’s transition toward an industrialized and modernized economy, with the goal of becoming a modern industrial province by 2030.
Expanding International Partnerships – Attracting High-Tech Investment
Beyond domestic capital mobilization, Hung Yen is proactively fostering international cooperation to capture high-tech investment. Recently, Mr. Nguyen Huu Nghia, Secretary of the Hung Yen Provincial Party Committee, led a delegation to China, where they coordinated with the Vietnamese Embassy and the China Investment Promotion Council to organize an investment promotion conference in Xi’an, Shaanxi Province, drawing nearly 100 businesses.
At the event, Hung Yen’s People’s Committee signed a memorandum of understanding with a consortium of investors including Xi’an GSR Energy Storage Technology (China), Makara Capital (Singapore), and Newtechco Group (Vietnam). According to the agreement, the consortium plans to explore and implement two large-scale high-tech projects in Hung Yen:
• A 50GW solar panel manufacturing plant on a 75-hectare site.
• A 12GWh fast-charging station and energy storage panel manufacturing plant on a 25-hectare site.
Additionally, Our United Corporation and Newtechco Group signed a cooperation agreement to explore investment in a green hydrogen production plant with an annual capacity of 3 million tons, as well as the application of Small Modular Reactor (SMR) technology for power generation – a strategic move aligned with global clean energy trends.
Sustainable Growth Momentum
In 2024, Hung Yen recorded a historic high in investment attraction, reaching nearly USD 4 billion – a testament to the province’s vision and relentless efforts to enhance its investment environment and promote socioeconomic development.
With its strategic focus on industrial expansion, the attraction of high-quality FDI, and the strengthening of international cooperation, Hung Yen is steadily affirming its role as a key industrial hub in northern Vietnam – a promising destination for cutting-edge, sustainable investment projects shaping the future.