The circuit board production line of Mektec Manufacturing Co Ltd in Thăng Long II Industrial Park in Hưng Yên Province. Developing high-tech industries is one of the province's focus until 2030. — VNA/VNS Photo Duong Giang

HƯNG YÊN — There are several factors that make Hưng Yên Province a prime destination for domestic and foreign investors, but five stand out.

They are the geographical advantages, good technical infrastructure, cost efficiency, abundant human resources and a transparent and open investment environment.

According to Nguyễn Hữu Nghĩa, Secretary of the Hưng Yên Party Committee, the province is located in a strategic position in the rapidly developing Red River Delta, with a close proximity to the capital city of Hà Nội.

It has strong socio-economic infrastructure, including transportation, trade, services and logistics, which connects conveniently to Nội Bài International Airport, Hải Phòng International Port, and major economic, trade, and industrial centres nationwide.

The province also has a rich cultural heritage that preserves the nation’s historical values, having once been a major economic hub, and a skilled, diligent, and intelligent workforce.

Nghĩa said Hưng Yên currently hosts 17 industrial parks spanning nearly 4,395 hectares, which are being developed with modern, standardised infrastructure, ready to meet the needs of global investors and high-tech industrial projects.

The number of industrial parks is expected to increase to 30 by 2030, covering 9,540 hectares.

The province is focusing on developing a synchronised industrial ecosystem, particularly in specialised industrial parks, eco-industrial parks, high-tech industrial parks and supportive industries.

It also aims to create a comprehensive living ecosystem – including new urban areas, housing, healthcare, education, cultural, sports, and entertainment facilities – to meet the diverse needs of experts, leaders, business managers and workers.

"Hưng Yên’s authorities are committed to continuously creating a safe, transparent, and efficient investment environment and improving provincial competitiveness to ensure that the province is truly a safe destination and the most reasonable choice for investors,” Nghĩa said.

“All of our reform efforts aim for three ‘bests’: the most convenient, safest, and most efficient investment environment, to the satisfaction of businesses and investors."

Recently, at a conference announcing the planning of Hưng Yên for the period 2021-30, the province’s authorities granted investment registration certificates and decisions approving investment proposals for 24 projects, totaling US$764.07 million in various sectors, including industrial park infrastructure, urban areas, e-commerce, logistics, furniture, and mechanical components.

Among the projects awarded certificates are several notable ones with large investments, such as the Hưng Yên Alpha Logistics Park project, with a total registered capital of over $114 million; a project to build modern factories, warehouses, offices, and auxiliary facilities by a Singaporean investor ($77 million); a food production and processing project by Acecook Vietnam ($87.7 million); and a project to develop and operate infrastructure at the Thổ Hoàng Industrial Park ($125,800).

Prime Minister Phạm Minh Chính (centre) and Minister of Planning and Investment Nguyễn Chí Dũng (far right) give Hưng Yên authorities the Government decision approving the province's development plan until 2030 in July. — VNA/VNS Photo Dương Giang

This year, Acecook Việt Nam continued to choose Hưng Yên for its second food production project. Its factory is set to go into operations by the second quarter of 2027, providing jobs for over 2,000 people.

CEO of Acecook Việt Nam Kaneda Hiroki said: “We are genuinely impressed with Hưng Yên for its geographical position, and a highly-skilled workforce that meets the our company’s production and business needs.

“The simplification of administrative procedures in Hưng Yên has significantly supported our business development, which is one of the reasons we choose the province for further investment.”

Vinhomes JSC has launched two apartment complex projects in Hưng Yên, which are the Đại An Urban Area and the Dream City Eco-Urban Area.

The company’s chairman Phạm Thiếu Hoa said Hưng Yên has made significant investments in infrastructure development, with the largest number and scale of projects to date.

Key projects include the Ring Road 4 that connects Hưng Yên and Bắc Ning provinces with Hà Nội, an expressway that connects Hà Nội and Hải Phòng City, and the Cầu Giẽ–Ninh Bình highway.

“The province has also focused on attracting investors to develop urban infrastructure to address housing issues for residents, experts, and workers, as well as upscale shopping and entertainment venues,” he said.

The master plan for Hưng Yên’s development until 2030, approved by the Prime Minister, aims to transform the province into a modern industrial hub, with a leading economy and development level in the country.

The province's development approach is focused on rapid and sustainable growth, making breakthroughs in the speed and quality of economic growth, said Trần Quốc Văn, chair of the Hưng Yên People’s Committee.

To achieve these goals, Hưng Yên will continue to enhance the investment and business environment, ensuring transparency and convenience, removing barriers that limit business freedoms, and ensuring healthy and equal competition, he said.

“The province will continue to attract private and foreign investment into prioritised sectors, as well as large investment projects that utilise modern technology from multinational corporations, major investors, and businesses in the global supply chain,” he added.

“We also aim to develop environmentally friendly, high-tech industries with low carbon emissions, alongside the fundamental industries to serve the country’s development.” — VNS