According to provincial Party Secretary Nguyen Huu Nghia, local gross regional domestic product (GRDP) increased by 10.05 percent on-year, putting the province seventh among Vietnam’s 63 cities and provinces last year. The province’s industrial production value grew by 7.08 percent.
An overview of Hung Yen City.
This was particularly thanks to reforms in administrative procedures and the improved business environment, which allowed the province’s FDI to reach a record high of roughly USD1 billion.
To date, Hung Yen has licensed 543 FDI projects worth a total investment of nearly USD7 billion. Among those, 172 projects valued at USD3.8 billion in total are from Japanese investors.
The province is home to 17 industrial parks covering a total area of 4,400 hectares. The figure is expected to rise to 30 industrial parks with 9,540 hectares in total by 2030.
Hung Yen has set a goal to pull in USD600 million into local industrial parks this year.
Permanent Vice Chairman of the People’s Committee Nguyen Le Huy was cited by Vietnam News Agency as saying that the province will focus on organising meetings and investment promotion conferences with investors from South Korea, Japan, the US and Europe to seek more investment in the coming time.
