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Hung Yen develops industrial parks to attract investment

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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.

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Manufacturing, processing push up industrial growth in five months

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March 17, 2025

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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.

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Massive investments flow into Cam Lam district as airport town to take shape in Vietnam’s Khanh Hoa province

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March 17, 2025

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Hundreds of millions of U.S. dollars are flowing into Cam Lam district, providing a major boost for Khanh Hoa as the province in south-central Vietnam accelerates its plans to develop an international-standard airport town.

A corner of Cam Lam district, Khanh Hoa province, south-central Vietnam. Photo by The Investor/Nguyen Tri.

A corner of Cam Lam district, Khanh Hoa province, south-central Vietnam. Photo by The Investor/Nguyen Tri.

The provincial People’s Committee recently issued decisions to select investors for four large urban complex projects, with a total investment exceeding VND22 trillion ($862.24 million) in Cam Lam district.

The Cam Tan Urban Complex spans over 290 hectares in Cam Tan and Suoi Tan communes, with a projected population of around 4,020 people and a total investment exceeding VND5.73 trillion ($224.6 million).

The Cam Thuong Urban Complex, at the cost of nearing VND6 trillion ($236.9 million), covers nearly 300 hectares in the same two communes and will be home to 4,010 people.

Located in Cam Tan and Cam Hoa communes, the 300-hectare Cam Hoa Urban Complex will have an investment of over VND5.24 trillion ($200 million) and house 4,410 people.

Lastly, the over VND5.1 trillion ($200 million) Suoi Tan Urban Complex, spanning nearly 240 hectares in Suoi Tan commune, will accommodate around 4,020 people.

The provincial People’s Committee also approved a list of projects seeking non-budget investments for the 2025–2030 period, including three projects in Cam Lam.

The most notable is the 10,365-hectare Cam Lam New Urban Area project, with an investment of VND285.3 trillion ($11.18 billion). This major project aims to create a new urban area and world-class entertainment zone, making it one of Khanh Hoa’s flagship initiatives for the 2025–2030 period.

Developing Khanh Hoa’s southern growth pole

Positioned between the coastal towns of Nha Trang and Cam Ranh, Cam Lam benefits from a highly convenient transportation network.

With 13 kilometers of coastlines, the district has attracted significant investment over the past 20 years, leading to the development of numerous resorts that have transformed the area.

In February 2024, Deputy Prime Minister Tran Hong Ha approved a master plan for the new Cam Lam Urban Area until 2045. The planned area covers the entire administrative boundary of Cam Lam district, totaling over 54,719 hectares (excluding the Thuy Trieu Lagoon area).

Under the master plan, Cam Lam is set to become the southern growth hub of Khanh Hoa and the south-central coastal region, contributing to the province’s ambition to become a centrally governed city. Vietnam currently has six centrally managed cities, namely Hanoi, Hai Phong, Danang, Hue, Ho Chi Minh City, and Can Tho.

The district will be developed into a modern, international-standard airport town, focusing on coastal tourism, logistics services, finance, global innovation, education, healthcare, and cutting-edge research. The goal is to create a high-quality living environment with modern infrastructure.

In August 2024, the Khanh Hoa People’s Committee approved a zoning plan (scale 1/2000) that covers the coastal sub-area, the central urban sub-area, and the northern urban sub-area of the new Cam Lam town.

The central urban sub-area aims to develop a new political-administrative center for Cam Lam, as well as an innovation hub that is part of a larger regional center.

The northern urban sub-area will focus on developing a new urban center, featuring a chain of golf courses, amusement parks, and specialized parks near Cu Hin Mountain.

Meanwhile, the coastal urban sub-area will serve as a tourism, service, and coastal urban zone, acting as the maritime gateway to the new town.

Real estate market recovery

Nguyen Anh Tuan, vice president of the Khanh Hoa Real Estate Brokerage Association, stated that the local real estate market has emerged from its most challenging period and showed clear signs of recovery in 2024.

The market’s recovery is driven by significant improvements in infrastructure and well-planned, long-term development schemes, such as the Nha Trang master plan for 2040 and the Cam Lam airport town master plan through 2045, he noted.

These initiatives have drawn considerable interest from investors, highlighting the region’s sustainable property market growth potential.

“The real estate market in Khanh Hoa, particularly in hotspots like Nha Trang and Cam Lam, has experienced a notable rise in prices over the past year. This surge has created pressure for both homebuyers and new investors, potentially driving property prices to unsustainable levels, which could pose risks to liquidity and long-term value stability,” Tuan added.

With a strong foundation for recovery in 2024, Tuan believed that the local real estate market will continue to grow substantially in 2025, supported by the ongoing improvements in infrastructure.

Notably, key projects such as the Khanh Hoa-Buon Ma Thuot Expressway and the expansion of Cam Ranh Airport will play a pivotal role in stimulating the market and attracting further investment.

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Agoda Offers Free Tickets for Japanese Fans to See NCT WISH, THE BOYZ, n.SSign and More at Seoul Spring Festa

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2 hours ago

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March 17, 2025

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Digital travel platform Agoda is giving K-pop fans in Japan a reason to cheer with an exclusive offer to attend the Seoul Spring Festa’s opening concert, WONDER SHOW, which will take place on Wed, Apr. 30 at Seoul World Cup Stadium.

TOKYO, March 14, 2025 /PRNewswire/ — Digital travel platform Agoda is giving K-pop fans in Japan a reason to cheer with an exclusive offer to attend the Seoul Spring Festa’s opening concert, WONDER SHOW, which will take place on Wed, Apr. 30 at Seoul World Cup Stadium.

Fans from Japan, Mainland China, Hong Kong, and Taiwan can snag two free tickets per booking to the highly anticipated event featuring K-pop artists NCT WISH, THE BOYZ, n.SSign, TWS, NMIXX, god, STAYC, ALL(H)OURS, NEXZ, KickFlip, Hearts2Hearts, NouerA, KiiiKiii and more to be announced*. Travelers can secure the free tickets through the ‘Agoda x Wonder Show’ special room package available via participating properties on Agoda. The offer will be available starting March 17 to April 11, 2025, for check-ins between April 21-30, 2025, and includes an additional discount of up to 15% off accommodations.

The Seoul Spring Festa, a city-wide celebration of Korean culture, food, and entertainment, includes a lineup of performances by NCT WISH, known for their electrifying stage presence; THE BOYZ, celebrated for their dynamic choreography; and n.SSign, the rising stars captivating fans across Asia, and many more. Pre-sale tickets for the event have already sold out, making Agoda’s offer a golden opportunity for fans to experience the magic of K-pop live.

Jay Lee, Country Director, South Korea at Agoda, shared, “K-pop transcends borders, uniting fans worldwide, and we’re excited to bring Japanese fans closer to the action. Agoda is making dreams come true with free tickets to see NCT WISH, THE BOYZ, n.SSign, and more, along with unbeatable hotel deals—turning Seoul into the must-visit hotspot for K-pop lovers this spring.”

Travelers can enhance their Seoul experience by booking the Discover Seoul Pass on Agoda. This all-in-one offers access to major attractions, transportation, and connectivity in Seoul, ensuring visitors can explore the city with ease and convenience.

With over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities available, Agoda offers everything travelers need to plan their perfect trip. For more information on this exclusive offer and to book your stay, visit Agoda.com or download the Agoda mobile app for the best deals.

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