Project

Hung Yen develops industrial parks to attract investment

Published

1 day ago

March 16, 2025

In 2024, Hung Yen Province attracted a record of nearly 4 billion USD in domestic and foreign investment, significantly contributing to the province’s industrial development efforts. The province aims for economic growth targets of 8% or higher in 2025 and beyond.

Hung Yen borders Hanoi and has an advantageous transport infrastructure with connections to seaports, airports and major urban centres. To leverage these strengths, the province is focusing resources on building industrial park infrastructure to attract investment.

Building technical infrastructure for industrial parks

At the Industrial Park No. 3 construction site, workers are rushing to complete the technical infrastructure. Nguyen Cong Hong, General Director of TDH Ecoland, said, “To overcome difficulties, Hung Yen established a steering committee for site clearance of key projects, making this process smoother. Within a short time, all 160 hectares of Industrial Park No. 3 was handed over to the investor.”

Immediately after the land was cleared, TDH Ecoland and its partners focused on building technical infrastructure. In less than a year, Industrial Park No. 3 has essentially completed its technical infrastructure and begun operations. With its advantageous location adjacent to the Hanoi-Hai Phong Expressway, and particularly the policy of one-time land rental payments, it has drawn many FDI investment projects.

Hung Yen Province occupies a strategic position in the Northern Key Economic Region, bordering Hanoi, with convenient transport infrastructure, including the Hanoi-Hai Phong Expressway, National Highways 5, 38, 39, and Hanoi’s Ring Road 4, connecting to seaports, airports and major northern urban centres. To capitalise on these advantages and create breakthrough economic development, the province has consistently focused on industrial park infrastructure development to attract investment.

Vu Quoc Nghi, Head of the Hung Yen Industrial Parks Management Board, shared that to create favourable conditions for industrial park infrastructure construction, since 2021, the Provincial Party Committee Standing Board issued a directive on site clearance for infrastructure projects and a decision on establishing a steering committee for key projects during the 2021-2025 period, led by the Provincial Party Secretary. The province has mobilised the entire political system to persuade residents to agree to hand over land for socio-economic development projects.

The steering committee for key projects meets monthly to review site clearance progress and issues directives to promptly resolve difficulties and obstacles. Consequently, between 2021 and 2024, the province cleared nearly 1,300 hectares of land for industrial park infrastructure development, almost triple the total area from 2015 to 2020.

Industrial park developers have accelerated construction and invested in comprehensive technical infrastructure. In 2024, approximately 620 hectares of land were developed, nearly double from 2023, which brings the total area of industrial parks with technical infrastructure to about 2,500 hectares, representing 89% of the total area, with approximately 540 hectares remaining available for lease. Many industrial parks have become operational and attracted investment, notably the Thang Long II Industrial Park expansion, Industrial Park No. 3, Industrial Park No. 5, and the Clean Industrial Park.

Integrated industrial park infrastructure has facilitated effective investment attraction. In 2024, Hung Yen Province received 86 projects, a 33% increase from 2023, with a total registered capital of 772 million USD and 11.6 trillion VND.

The industrial parks have attracted many large high-tech projects. Notable examples include Nitto Vietnam’s 132 million USD project to manufacture LCD polarising films for smartphones and automobiles, Molex Vietnam’s 128 million USD project to produce optical cables and high-speed connection cables, and Arizon Vietnam’s 67.5 million USD project manufacturing RFID labels.

Creating momentum for breakthrough growth

According to the Prime Minister’s decision on industrial park development planning to 2030 with a vision for 2050, Hung Yen Province will have 35 industrial parks with a total area exceeding 12,000 hectares. Currently, the province has 12 industrial parks covering more than 3,123 hectares. Of these, 10 industrial parks (approximately 2,773 hectares) are operational and accepting secondary investment projects.

Hung Yen Party Secretary Nguyen Huu Nghia shared that 2024 was a record year for the province’s investment attraction, with 180 projects totalling over 61 trillion VND and more than 1.5 billion USD. To date, the province has 2,371 active projects (1,755 domestic and 616 foreign) with total registered capital exceeding 370 trillion VND and over 8.5 billion USD.

This achievement is significantly owed to the industrial parks’ contribution to attracting investment and helping drive high and stable economic growth for the province. In 2024, the province’s economy grew by 7.7% to 159.8 trillion VND and GDP per capita reached 121.3 million VND, up 8.8 million VND compared to 2023.

To achieve breakthrough development strategic goals, Nghia stated that the province is determined to pursue a new growth model based on pillars, including the enabling role of government, focusing on promoting strong digital transformation, continuously improving institutions, investment environment, business climate and competitiveness, and strengthening the leading role of public investment.

Simultaneously, the province will establish an ecosystem for clean, high-tech industrial development with selective new investment attraction policies that prioritise scale, modern technology, and environmental protection.

Hung Yen is also accelerating urbanisation, developing large, smart, ecological urban areas linked with modern trade and services development, improving provincial competitiveness, and creating favourable conditions for businesses and investors to have equal access to information, business opportunities, investment and land.

Hung Yen leaders regularly maintain contact and dialogue with businesses to promptly identify and address difficulties and obstacles facing them, strengthen investment and trade promotion activities, promote potential and business opportunities, and build the province’s brand and image domestically and internationally.

In the coming period, the province will focus on reviewing and updating land use plans for industrial parks to be developed according to the master plan and adding newly established industrial parks to the list of provincial key projects.

Provincial functional agencies have been directed to accelerate compensation, site clearance and land handover to industrial park investors for technical infrastructure construction and project reception.

They are also increasing the implementation pace of approved industrial park infrastructure investment projects, striving to have approximately 2,000 hectares of cleared land ready for lease by the end of 2025.

The province aims to have 30 industrial parks (9,588 hectares) by 2030 and 35 (over 12,000 hectares) by 2050, transforming Hung Yen into one of Vietnam’s strongest industrially developed provinces.

Project

E-tax system resumes full operations after temporary suspension

Published

2 minutes ago

March 17, 2025

Industrialzone.net

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

E-tax system resumes full operations after temporary suspension

The tax authority has stated that all systems are now running smoothly, ensuring seamless tax transactions for individuals, businesses and foreign entities. (Photo: baodautu.vn)

Hanoi – Vietnam’s electronic tax system has resumed full operations starting at 8am on March 17, after a temporary suspension for system upgrades and data restructuring, the tax authority announced.

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

During this period, certain services such as electronic tax payment (eTax), eTax Mobile and tax applications for individuals were temporarily halted, while other functions remained accessible.

Foreign businesses operating in Vietnam can now fully access the e-portal for foreign suppliers, which remained operational but may have experienced minor delays in processing transactions during the upgrade.

Director of the Department of Taxation Mai Xuan Thanh instructed tax departments to ensure secure data migration and a smooth transition, allowing businesses and individuals to resume using the e-tax system without disruption.

Project

Central Vietnam province aims to add 2,300 MW of wind power to development plan

Published

1 hour ago

March 17, 2025

Industrialzone.net

Vietnam’s central province of Quang Tri plans to add 1,800 MW of 43 land-based wind power projects and 500 MW of offshore wind power to the draft implementation scheme of the national power development plan VIII (PDP VIII).

The draft scheme also features 260.5 MW of hydropower, 119.6 MW of solar power, and 23 MW of rooftop solar power for self-consumption, Quang Tri authorities discussed last week.

Quang Tri's acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper. — Quang Tri’s acting Chairman Ha Sy Dong (standing) speaks at a meeting in the province, central Vietnam, March 14, 2025. Photo courtesy of Quang Tri newspaper.

Until 2030, Quang Tri aims to facilitate power import of 2,000 MW from Laos.

Provincial authorities will also facilitate investors of 500 kV, 200 kV, and 100 kV power grid projects, in line with the deployment of wind, solar, gas-fired power, and imported power (from Laos) projects.

Addressing the meeting, Quang Tri’s acting Chairman Ha Sy Dong asked the Department of Industry and Trade to collaborate with investors to complete the applications for in-principle approval by March 20.

He also requested the Department of Finance to finalize the land recovery plan for site clearance by March 25.

Vietnam’s current PDP VIII has 6,000 MW of offshore wind power, including 500 MW in the central-central region.

In February 2025, Vietnamese Ministry of Industry and Trade proposed delaying the development of offshore wind power until after 2030, instead of meeting the initial target of 6,000 MW by 2030.

However, in March 2025, the Government requested that offshore wind power projects under the PDP VIII must complete by 2030.

Project

Manufacturing, processing push up industrial growth in five months

Published

3 hours ago

March 17, 2025

Industrialzone.net

Vietnam’s industrial sector experienced positive growth in the January-May period, with 55 out of 63 provinces and centrally-run cities nationwide reporting annual increases in the Index of Industrial Production (IIP), according to the General Statistics Office (GSO).

The GSO identified manufacturing, processing, and electricity production and distribution as the primary drivers of the growth. Provinces recording high growth included Phu Tho (31.2%), Bac Giang (24.9%), and Binh Phuoc (14.8%). However, some other provinces like Ha Tinh, Quang Ngai and Ca Mau saw respective declines of 9%, 8.25% and 2.5% in their indexes.

Overall, the national IIP in May continued its upward trajectory, rising 3.9% month-on-month and 8.9% year-on-year. The five-month period saw an yearly increase of 6.8%.

A deeper analysis revealed the processing and manufacturing industries as the key contributor to the growth, boasting a 7.3% rise and adding 6.4 percentage points to the overall increase. The electricity production and distribution sector also performed strongly, with 12.7% growth, contributing 1.1 percentage points. Additionally, the water supply, waste, and wastewater management sector went up 6.3%, adding 0.1 percentage point. However, the mining sector experienced a decline of 5.2%, resulting in a reduction of 0.8 percentage point in the overall growth.

Specific product categories within the processing and manufacturing sectors posted impressive growth. Production of rubber and plastic products surged by 27.4%, while electrical equipment saw a 24% increase. Production of chemicals and chemical products grew by 20.1%, followed by beds, cabinets, tables, and chairs (19.6%) and metal products (13.2%).

In light of these findings, the GSO proposed a series of recommendations to further bolster Vietnam’s industrial development. It urged the Ministry of Industry and Trade (MoIT) to prioritise a structural shift toward increasing the proportion of processing and manufacturing industries within the overall industrial sector, while simultaneously reducing reliance on the assembly and processing of imported products; enhance enterprise competitiveness and incentivise the use of domestically produced goods via technical barriers for certain imports.

Additionally, the GSO recommended that the MoIT refine key institutions such as the Key Industrial Law and the Law on Chemicals. Expediting the disbursement of public investment capital and hastening crucial projects in the fields of electricity, oil and gas, manufacturing, processing, and mining are also highlighted as crucial steps.

Head of the GSO’s Industrial and Construction Statistics Department Phi Thi Huong Nga suggested that localities should launch more stimulus and promotion schemes to increase purchasing power while helping industrial firms find partners and expand markets through trade exhibitions.