Communal Plan for Sustainable and Green Progress in Hung Yen
In the heart of Northern Vietnam, Hung Yen province is making significant strides towards becoming a modern industrial powerhouse. With a rich tapestry of history, culture, and natural resources, Hung Yen is poised to lead Vietnam's green transition.
The province, home to 35 industrial parks pre-merger, has attracted over $7 billion in foreign capital, making it a magnet for international investment. Notably, the Thai Binh Economic Zone, spanning over 30,000 hectares along the coastal highway, has been a key draw.
The total investment attracted by the former Thai Binh was approximately $9 billion, including over $5.1 billion in Foreign Direct Investment (FDI). This investment has been instrumental in attracting companies interested in high-tech, green industry, and environmental projects, with substantial FDI amounting to $4.3 billion.
One such company is Dutch firm CTP Netherlands, which plans to develop industrial parks in Hung Yen. The focus on industrial production and infrastructure development is evident in large-scale projects like a $2 billion 1,500-MW LNG power plant.
Hung Yen's ambitious goals extend beyond industrial growth. By 2035, the province aims to become a modern industrial province meeting Grade I urban centre criteria. By 2045, Hung Yen envisions itself as a centrally governed smart and ecological city. These aspirations align with the province's commitment to advancing in line with the principles of green transition.
The province's transportation infrastructure is comprehensively developed, with connections to key routes and a land-sea-air transport system. Hung Yen is located adjacent to Hanoi and serves as Hanoi's eastern gateway. It is also close to diverse airports like Cat Bi, Van Don, and soon Gia Binh and Ninh Binh airports, and handles a railway line.
Hung Yen's strategic location also provides potential for cultural, historical, and spiritual tourism. The province boasts numerous historical and cultural relics, traditional festivals, and renowned craft villages.
In the first seven months of this year, Hung Yen has attracted over $840 million in investment, an 84% achievement of its annual target. This growth is reflected in the 35 foreign-invested projects licensed with a total registered capital of $352 million.
With its focus on industrial growth, ecological development, and cultural preservation, Hung Yen is truly a new development space offering potential in high-tech industries, electronics, precision engineering, and marine economy. The province's ambitious plans and recent successes make it an exciting destination for investors and tourists alike.
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