The agreement was signed on April 23 between the Bank for Foreign Trade of Vietnam, Pho Hien branch, and Pho Hien Industrial Development Group, marking a new phase in their strategic partnership.
Under Hung Yen Province’s socio economic development strategy, industrial park infrastructure is seen as a key driver for attracting investment, creating jobs and supporting sustainable growth.
The cooperation framework is expected to unlock new opportunities for industrial park and cluster projects across the province, with both sides committing to long term, mutually beneficial collaboration.
Overview of the signing ceremony (Photo: Hai Long).
At the ceremony, Nguyen Le Huy, Standing Vice Chairman of the Hung Yen Province People’s Committee, said the development of Tho Hoang Industrial Park reflects the province’s strong commitment to expanding industrial infrastructure to attract investment and improve labour quality.
Hung Yen is revising its development plan to define three zones: the north focusing on high technology, urban development and trade services; the central area on cultural heritage and spiritual tourism; and the south on marine economy development.
For Tho Hoang Industrial Park, authorities urged the investor to accelerate land clearance, mobilise resources and secure secondary investors to bring the project into operation, while ensuring compliance with fire safety and environmental standards.
Hoang Anh Tuan, Chairman and Chief Executive of Pho Hien Industrial Development Group, said the park is designed to attract high technology, automation driven and environmentally friendly enterprises.
“Given its proximity to Hanoi and limited land availability, we prioritise high tech projects to optimise land use efficiency and minimise pressure on surrounding infrastructure,” he said.
As part of the event, Vietcombank Pho Hien signed credit agreements to finance the Tho Hoang Industrial Park project with VND 2.35 trillion (approximately USD 92 million) and the Lac Dao Industrial Cluster with VND 400 billion (approximately USD 15.7 million).
Phung Nguyen Hai Yen, Deputy Chief Executive of Vietcombank, said financial institutions are playing an increasingly strategic role in supporting industrialisation, modernisation and sustainable development.
“This agreement, with total credit of nearly VND 2.8 trillion (approximately USD 110 million), is not only a financial transaction but also a long term commitment to shared development goals,” she said.
Nguyen Minh Nguyet, Director of Vietcombank Pho Hien, described the projects as key provincial developments with strong potential to attract investment and drive economic restructuring.
Pho Hien Industrial Development Group, headquartered in Hung Yen, specialises in industrial park and cluster development, as well as warehouse, factory and office construction.
The group has already developed Minh Khai and Lac Dao Industrial Clusters in Nhu Quynh and Lac Dao communes, contributing to local industrial growth.
It is also developing the Tho Hoang Industrial Park in Xuan Truc Commune, strategically located with direct connections to National Highway 38B and major expressways linking Hanoi, Haiphong and northern economic hubs.
Vietcombank remains one of Vietnam’s leading banks in operational efficiency and risk management. By the end of last year, its total assets reached approximately VND 2.48 quadrillion (approximately USD 97.5 billion), with outstanding loans of VND 1.66 quadrillion (approximately USD 65.3 billion) and deposits of VND 1.68 quadrillion (approximately USD 66.1 billion).
The bank implemented 28 lending programmes in 2025 with interest rates 0.5 to 2 per cent lower than the market average, helping ease financial pressure on businesses and households while supporting economic stability.
