Hung Yen: Ideal investment destination for international investors in industrial parks

On the investment attraction map, Hung Yen possesses a distinct advantage due to its proximity to major manufacturing hubs. The transportation system, along with expressways, national highways, logistics networks, and industrial park infrastructures, has created an important foundation for the province to attract both domestic and foreign investment flows.

Mr. Pham Quang Ngoc, Secretary of the Hung Yen Provincial Party Committee (8th from the left) and leaders of the Provincial People's Committee and the Management Board of Hung Yen Industrial Parks work with Thang Long II Industrial Park.

Industrial Park System Creating New Attraction

Currently, the northern region of Hung Yen province owns many large industrial parks (IPs) that play a vital role in attracting investment, such as Thang Long II IP, Pho Noi A IP, Pho Noi B IP, VTK IP, Eco Land IP No. 03, IP No. 05, IP No. 02, and several other industrial parks currently under planning or expansion. These are concentrated manufacturing spaces capable of accommodating large-scale projects with high demands for technical infrastructure, environment, logistics, and supply chain connectivity.

Among them, Thang Long II IP has long been considered one of the symbolic destinations for Japanese capital flows in Hung Yen, hosting numerous enterprises specializing in high-tech manufacturing, electronics, precision engineering, and supporting industries.

Pho Noi A and Pho Noi B IPs continue to maintain their roles as traditional industrial parks with high occupancy rates, contributing significantly to industrial development and the local budget.

New industrial parks like Eco Land IP No. 03, IP No. 05, IP No. 02, and VTK IP are opening up new development spaces, aligning with the trend of attracting high-value-added, modern, and environmentally friendly industries.

Notably, IP No. 02 - Hung Yen, developed by Hoa Phat Group, is expected to become an important link in the province's supporting industry ecosystem. According to Mr. Hoang Quang Viet, Member of the Board of Directors of Hoa Phat Group and Chairman of the Board of Directors of Hoa Phat Urban Development and Construction Joint Stock Company, the IP No. 02 - Hung Yen project spans 296 hectares, with Phase 1 covering 235 hectares and a total investment capital of nearly 2,823 billion VND. This is the third industrial park and the first supporting industrial park developed by Hoa Phat in Hung Yen.

Mr. Hoang Quang Viet stated that Hoa Phat identifies IP No. 02 - Hung Yen as a crucial link in the strategy to build a modern industrial ecosystem in Hung Yen, aiming to turn the province into a hub for supporting industries and high-tech manufacturing in the Capital Region. This industrial park operates under the supporting industrial park model, focusing on attracting manufacturers in the fields of telecommunications electronics, precision engineering, automation, semiconductors, and high-value-added industries. Thereby, IP No. 02 is expected to become a bridge connecting supporting industry manufacturers with domestic and international technology corporations.

Hoa Phat Group breaks ground on IP No. 02 – Hung Yen, a crucial link in the strategy to build a modern industrial ecosystem in Hung Yen.

Hung Yen's attractiveness stems not only from its industrial park infrastructure but also from the way the local government and management authorities accompany businesses. Mr. Cao Quang Hung, Head of the Management Board of Hung Yen Industrial Parks, emphasized that the Board always places businesses at the center of its service, and the success of investors is the yardstick for the effectiveness of state management agencies.

In that spirit, the Board continues to promote administrative reform, enhance the responsibility of civil servants, increase exchanges and dialogues, and promptly grasp the difficulties and obstacles of businesses to advise and coordinate resolutions according to their authority.

According to Mr. Cao Quang Hung, the Management Board of Hung Yen Industrial Parks commits to continuing to accompany infrastructure developers and secondary investors (Note: "Secondary investors" or "sub-investors" refers to tenant companies leasing land inside the IP for production) throughout the process of researching, registering investment, constructing, operating, and expanding production. The goal is to create an open, transparent, and friendly investment environment, ensuring that procedures are resolved in compliance with regulations and as quickly as possible, while fostering trust so that investors feel secure committing long-term to Hung Yen.

Voices from Businesses

From practical investment experience, many FDI (Foreign Direct Investment) enterprises assess that Hung Yen's investment environment is increasingly and visibly improving. Mr. Uemura Masami, General Director of Tamagawa Electronics Vietnam Co., Ltd. (located in IP No. 03), shared that the enterprise was granted the Investment Registration Certificate by Hung Yen province and the Management Board of Industrial Parks, and the project has officially entered operation.

Mr. Uemura Masami, General Director of Tamagawa Electronics Vietnam Co., Ltd. (standing), inspecting production activities at the factory workshop.

According to Mr. Uemura Masami, the project was implemented to enhance the production capacity of high-frequency telecommunications and communication equipment products. The business completed the construction of the new factory and put the production lines into operation in 2025. Currently, many production lines are operating stably, focusing on supplying products for 5G telecommunications infrastructure and step-by-step expanding supply to the Vietnamese market and the Southeast Asian region.

Bringing the new facility into operation helps Tamagawa Electronics Vietnam significantly improve its production capacity, shorten delivery times, and enhance cost competitiveness.

The corporate representative added that throughout the project implementation process, the company always received active support from the Hung Yen provincial government, the Industrial Parks Management Board, and the Management Board of Eco Land IP No. 03. This was a key factor helping the project to be deployed and become operational within a short period.

From the perspective of a South Korean enterprise with long-term investment in Hung Yen, Mr. Park Wan Soo, Deputy General Director of Hyundai Aluminum Vina Joint Stock Company, stated that the business always receives active partnership and support from the provincial government.

The investment environment in Hung Yen is increasingly improving, reflected in the increasingly synchronized infrastructure, streamlined administrative procedures, and the more professional spirit of business support. These are the factors that help businesses feel secure in expanding production, improving business efficiency, and contributing positively to the local budget.

However, Hyundai Aluminum Vina proposed that Hung Yen province should further accelerate the digital transformation process, aiming for a system where businesses can perform administrative procedures on a single unified, convenient, and easy-to-use platform. At the same time, the province needs to pay more attention to developing technical human resources and expanding vocational training centers to meet the growing recruitment needs of enterprises.