Hung Yen Province’s index of industrial production in the first nine months of 2024 rose by 10.59% over the same period last year, according to the provincial statistics office.
Specifically, the manufacturing sector grew by 10.10%, electricity generation and distribution increased by 11.96%, while water supply and waste treatment surged by 26.46%.
Strong output growth was seen in several industries, such as clothes, iron and steel, multifunctional engines, washing machines, air conditioners, motorbikes and bicycles.
Hung Yen is home to 584 foreign-invested projects with over 7.6 billion USD in pledges.
Major foreign investors are Japan (3.8 billion USD in 176 projects), China (1.2 billion USD in 155 projects), and the Republic of Korea (928 million USD in 155 projects).
Budget revenue in Hung Yen Province was estimated at over 30 trillion VND (1.2 billion USD) in the first three quarters, up 26.78% year on year and equivalent to 93.16% of the full-year target.
Domestic revenue was estimated at 27 trillion VND, while revenue from export and import activities was 3.28 trillion VND.
Thailand-invested MM Mega Market Vietnam is searching for a location in Vinh Yen town, capital of the northern province of Vinh Phuc, to build a hypermarket.
Bruno Jousselin, CEO of MM Mega Market Vietnam, made the proposal at a meeting with Tran Duy Dong, Chairman of the Vinh Phuc People’s Committee, on Thursday.
Bruno Jousselin, CEO of MM Mega Market Vietnam, talks with Chairman of the Vinh Phuc People’s Committee Tran Duy Dong in the northern province, March 7, 2024. Photo courtesy of Vinh Phuc newspaper.
Jousselin expressed high regard for the province’s geographical location, infrastructure, and investment attraction policies. He proposed that the people’s committee facilitate its search for suitable investment locations and streamline project procedures in line with regulations.
During the meeting, Chairman Dong noted the significant demand for commercial transactions and shopping in the province, adding that Vinh Phuc is yet to have a commercial center at a suitably high level.
He expressed support for the company’s proposal and instructed the Department of Construction, the Center for Investment Promotion and Enterprise Support, and relevant departments to collaborate with MM Mega Market Vietnam in identifying investment locations that align with the province’s planning and land use plan for Vinh Yen town.
Dong also urged the company to review potential investment locations based on suggestions from provincial departments to ensure that they are suitable and convenient for site clearance.
The chairman recommended that the company consider leasing existing premises in urban areas within the province to expedite the project’s development.
MM Mega Market Vietnam, a subsidiary of Thailand’s TCC Group, primarily focuses on trade and services. After 23 years of operation, the company has expanded its network to include 21 supermarkets, seven warehouses, five logistics centers, two central distribution centers, and two warehouses for fresh products. The firm employs over 4,000 people and has over 2,000 suppliers across the country.
MM Mega Market Vietnam last November broke ground on its first department store in Vietnam, signalling a strong commitment to expanding its presence in the Southeast Asian nation.
The facility, costing nearly $20 million, spans 19,197 square meters on Nguyen Sinh Sac street in Lien Chieu district of the central city of Danang and incorporates recyclable and energy-saving materials. The MM Mega Market Danang is expected to come on stream in late 2025.
SK Group’s subsidiary seeks to expand in Vinh Phuc
On the same day, during a meeting with ChairmanDong, Yoo Jin-Han, chief financial officer of SKC and CEO of ISC Company under South Korea’s SK Group, asked Vinh Phuc to provide favorable conditions for ISC to expand its production capacity in the province, especially in terms of human resources, with the goal of making the ISC Vina factory a key production base for SK Group in Vietnam.
Chairman of the Vinh Phuc People’s Committee Tran Duy Dong (fourth, right) and SKC representatives at their meeting in the province on March 6, 2025. Photo courtesy of Vinh Phuc newspaper.
ISC Company specializes in manufacturing semiconductor test sockets and is currently investing in the ISC Vina factory project at Ba Thien 2 Industrial Park in Binh Xuyen district, Vinh Phuc. The factory spans nearly two hectares, with total registered investment capital of over $12.3 million.
The ISC Vina factory produces five main products, including plastic and synthetic rubber in primary form, metal products, electronic components, mechanical and metal processing and coating, and plastic and aluminum molds for the semiconductor industry.
The project currently employs over 900 workers, and in 2024, it is expected to generate nearly $29 million in export revenue, contributing more than $340,000 to the state budget.
Dong commended SK Group’s expansion as aligned with Vinh Phuc’s investment attraction goals.
Regarding the company’s request for assistance with human resource challenges, Dong assured that the province has plans to provide high-quality workers and social housing for employees, meeting the needs of investors.
Vinh Phuc is a manufacturing hub in northern Vietnam, together with Hanoi, Hai Phong, Hai Duong, Ha Nam, Bac Ninh, and Thai Nguyen.
Japanese keiretsu Sumitomo is keen to build its second industrial park in Vinh Phuc, a representative told local authorities in mid February.
Sumitomo-invested industrial parks in Vietnam include Thang Long in Hanoi, Thang Long II in the neighboring province of Hung Yen, and Thang Long Vinh Phuc in Vinh Phuc province,
The Da Nang City People’s Committee launched the Hoa Ninh Industrial Park Infrastructure Investment and Business Project (Phu My 3 Da Nang IP) in Hoa Ninh Commune, Hoa Vang District, on February 18.
Approved by the prime minister on December 31, 2024, and granted with its investment certificate on February 18, 2025, the project is being developed by Thanh Binh Phu My JSC.
It covers over 400 hectares, with a total investment of 6,204 billion VND.
Strategically located near the Lien Chieu deep-water port and existing industrial zones, Hoa Ninh Industrial Park aims to develop a specialised, modern industrial ecosystem with integrated logistics and sustainable infrastructure. Designed to meet international standards, it will attract both domestic and foreign enterprises.
The project is expected to create tens of thousands of direct and indirect jobs, prioritising local labour recruitment and vocational training partnerships. Additionally, it will include worker housing, schools, hospitals, and recreational facilities to improve living standards.
Hoa Ninh Industrial Park is set to stimulate auxiliary industries, boost regional economic growth, and serve as a model for sustainable development, balancing economic progress with environmental protection.
On the occasion, Thanh Binh Phu My JSC donated 500 million VND to support disadvantaged households in Hoa Ninh Commune.
Vietnam’s central coastal province of Ninh Thuan aims to complete the site clearance for Ninh Thuan 1 nuclear power plant in 2025.
Ninh Thuan Chairman Tran Quoc Nam made the statement during an on-site visit to the designated project site on Wednesday. The “whole political system” must join hands to make the move, including relocation and livelihoods for citizens, he added.
Ninh Thuan Chairman Tran Quoc Nam (second, left) visits the designated site for Ninh Thuan 1 nuclear power plant on March 5, 2025. Photo courtetsy of Ninh Thuan TV.
The new residential areas for citizens to be relocated must be better than the previous ones, Nam stressed.
In 2005, Vietnam’s Party Central Committee greenlighted a plan to build two nuclear power plants in the south-central province of Ninh Thuan. Four years later, the National Assembly, the country’s legislature, okayed the plan with an initial investment of VND200 trillion ($7.9 billion at the current forex rate).
In November 2016, the parliament decided to halt the 4,000 MW project, citing safety, funding and technology reasons. In November 2024, it agreed to resume the nuclear power project in Ninh Thuan after an eight-year suspension.
In February 2025, Prime Minister Pham Minh Chinh has assigned state-owned groups Vietnam Electricity (EVN) and Petrovietnam (PVN) to be investors of Ninh Thuan 1 and 2 nuclear power plants, respectively.
The PM also requested the Ministry of Industry and Trade to coordinate with relevant agencies to get nuclear power plants built towards completion by end-2030, or end-2031 at the latest.
