Hung Yen’s Development and Economic Progress
Hung Yen is a province of the Red river delta consisting 10 districts. It is located in the northern key economic zone and the economic triangle of Ha Noi-Hai Phong-Quang Ninh, covering an area of 930.20 km2. As the eastern gateway of Ha Noi, there are multiple benefits such as economic growth, infrastructure development, and social progress. The total population in Hung Yen is approximately 1.300.000 people with a steady increase trend since 1996.
In 2023, the proportion of trained laborers reached over 69%. Accordingly, the authority has set specific targets for the next phase, which by the proportion of trained workers will reach 71%, and also add several vocational traning centres inside industrial park to develop the quality of the work force.
Thriving Industrial Sector
There are currently 17 industrial parks in the province with a total area of over 4,300 hectares, among that 11 have been operated and successfully attracted investements from big companies like Mektec Manufacturing, Hoya Glassdisk, Canon.
Industrial production index up to 11% with food processing, furniture, electronics, computer numerical control are the most attractive fields. Among the countries investing in the province, Japan is the largest investor with 51% of total registered capital. This is followed by South Korea with 12%.
What makes Hung Yen an Industrial Hotspot?
The four factors that make Hung Yen emerge as an industrial hotspot include:
– Strategic Location: Hung Yen locates in the heart of industrial hubs like Bac Ninh, Hai Duong, and Hai Phong, coupled with its proximity to Ha Noi, a major seaport, and highway systems.
– Sustainable and Eco-friendly Development: Hung Yen is dedicated to transforming existing industrial zones and clusters into eco-friendly hubs by strictly prohibiting polluting industries. This strategic approach is anticipated to attract significant investment, which already secured 18 investment resources for green industrial parks.
– Fast Project Implementation: Significant progress has been made in land clearance and site development across Hung Yen’s industrial zones. These activities have been accelerated to facilitate timely investment attraction and infrastructure development.
– Investment Promotion and Enterprise Support: Authority coordinates with specialised agencies to build a socio-economic information system and policies to implement investment promotion, management, and mobilisation of official development assistance (ODA) and foreign non-governmental aid. Notably, the participation of the Prime Minister at the Hung Yen planning and investment conference 2024 emphasised the government’s strategic focus on the province.
Explore Savills Industrial’s Premier Projects in Hung Yen for Optimal Industrial Solutions
Ready-built Warehouses and Factories, My Hao, Hung Yen
• Vacant area: 72,000 sq m
• The property boasts LEED-certified green design, fully equipped offices, canteen facilities, ecology and wellness components, and International-standard services.
• Status: Available for lease
Clean Industrial Park
• Spans an impressive 143 hectares, surrounded with other 8 industrial parks, two inland container depots, and two urban areas.
• Hosts over 40 companies from various nationalities, representing the largest FDI destination in Hung Yen
• Provides a comprehensive range of utilities including water supply, waste treatment, and power.
