Hung Yen: Innovation in investment attraction

For Hung Yen, every piece of feedback from the business community serves as a valuable "indicator" to identify and untangle mechanism bottlenecks.

The Hung Yen – Japan Connection Program took place in Hung Yen province to expand investment cooperation opportunities with Japanese partners. Photo: IT

Breakthrough via Transparent Thinking

Mr. Nguyen Duc Tai, Director of the Hung Yen Provincial Department of Finance, shared that in modern economic management thinking, transparency is no longer just a temporary fix but has become the core foundation for retaining investors. The clearest evidence of this commitment is Hung Yen's outstanding performance, ranking 2nd nationwide in the Equal Competition Index (scoring 7.24 points) according to the latest announcement from VCCI. Every investor setting foot in the province can access opportunities, policies, and resources on a level playing field without discrimination.

On June 23, Chairman of the Hung Yen Provincial People's Committee Nguyen Manh Quyen worked with leaders of BRG Group to research and propose investments in several projects within the province.

However, looking at the reality frankly, the province's Market Entry Index currently ranks 16th out of 34 and still leaves plenty of room for optimization. To clear this "bottleneck," the Department of Finance will focus on three key groups of solutions:

Shortening administrative time: Reviewing and cutting down maximum time for business registration and investment licensing; standardizing processes toward "clear roles, clear tasks, clear deadlines."

Comprehensive digitalization of public services: Promoting electronic bidding and advanced online public services, publicly disclosing all project information and planning on digital platforms to eliminate unofficial costs.

Tightening public service discipline: Enhancing the responsibility of executing officials, taking business satisfaction and success as the highest measure of public service effectiveness.

Economic Leverage in H2/2026

These innovative management efforts have immediately yielded "sweet fruits" for the province's economy. Hung Yen's total state budget revenue in the first 6 months of 2026 reached nearly 40 trillion VND, placing it among the top provinces and cities with the largest budget revenues in the country.

The regular June meeting of the Hung Yen Provincial People's Committee evaluated the socio-economic development situation in the first 6 months of 2026.

The Gross Regional Domestic Product (GRDP) for the first 6 months is estimated at 142,736 billion VND, an increase of 10.5% compared to the same period in 2025, exceeding the set scenario. Industrial production value reached 267,874 billion VND, up 14.5%; the Industrial Production Index (IIP) increased by 15.15%.

The province established 2 new industrial parks: Tan Dan Industrial Park and Industrial Park No. 08 (Phase 1); established 2 new industrial clusters and adjusted 16 existing ones. Trade and service activities continued to prosper. Total import-export turnover of goods reached about 12.3 billion USD, up 14.42%, with exports reaching 6.45 billion USD, up 12.17%...

The Department processed 11,086 business registration dossiers. Cumulatively to date, there are 37,533 operating enterprises in the province with a total registered capital of 622.16 trillion VND; along with 10,602 branches, representative offices, and business locations.

According to Mr. Nguyen Duc Tai, Director of the Hung Yen Provincial Department of Finance, the province's investment environment is becoming increasingly attractive to both domestic and foreign investors coming to explore opportunities and propose project investments.

Long-term Strategic Vision

Hung Yen's appeal does not stop at short-term data but lies in its long-term planning vision. The locality has proactively provided dossiers for adjusting the Provincial Planning for the 2021-2030 period, with a vision to 2050, to serve the evaluation and proposed adjustment of national planning. At the same time, the province is finalizing its explanations regarding opinions from central ministries and sectors for the Scheme to establish the Hung Yen Provincial High-Tech Park—a project expected to catch the global wave of semiconductor technology and digital transformation.

Industrial Park No. 02: A model example of supporting industries.

Particularly, the Department of Finance is submitting a proposal to the Provincial People's Committee to issue the Scheme to develop Hung Yen into a strong Marine Economic Center of the North for the 2026-2030 period, with a vision to 2045. Hung Yen is realizing its aspiration to participate deeply in the national marine economic value chain.

To realize these mega-projects, public investment capital acts as the sparking fuse. Determined to achieve 100% of the assigned capital plan as directed by the Prime Minister, the Department of Finance has synthesized a specific "critical path schedule" for disbursement for each key work and project in 2026.

For the medium-term plan for the 2026-2030 period, the province has proactively proposed that the Ministry of Finance and the Prime Minister consider and support central budget capital to prioritize investments in driving-force traffic infrastructure projects and regional connectivity, breaking down all administrative boundaries.

Instead of waiting for investors to come, Hung Yen is actively conducting a comprehensive economic diplomacy campaign. In the first 6 months, the province worked closely with major international delegations, such as the China Investment Association Delegation and the Embassy of the Kingdom of Belgium. Intensive connection programs, such as the Hung Yen – Japan Connection Program and the 2026 Provincial Leaders' Meeting with Enterprises, have become effective bridges, bringing the image of an innovative Hung Yen closer to global financial institutions.

In a short period, the province welcomed and provided information to 60 investor arrivals, supporting 26 projects in researching locations. It received and supported 185 enterprise inquiries regarding investment procedures, finance, land, and business support policies. It also helped connect 18 enterprises to trade and investment promotion programs. These numbers demonstrate a dynamic administrative apparatus that listens and always accompanies businesses right from their first tentative steps during field surveys.

On June 25, Chairman of the Hung Yen Provincial People's Committee Nguyen Manh Quyen listened to a report on difficulties and bottlenecks in land clearance work for several projects in the province.

The positive movements of Hung Yen's economy in the first half of 2026—from industrial growth momentum and capital scale expansion to decisive institutional reform policies—are clear evidence of sharp management thinking and a strong desire to rise.

For the last 6 months of 2026, the province aims to organize and participate in 2 to 3 investment promotion conferences and seminars. It will step up the promotion of the province's potential, advantages, and investment environment; assist investors in surveying and researching investment opportunities; promptly handle difficulties and bottlenecks for businesses; organize dialogue programs and training sessions to popularize new policies; and strengthen consulting and support for enterprises to improve corporate governance capacity and access support policies.

With a solid foundation built on transparency and equality, Hung Yen will undoubtedly continue to make powerful breakthroughs, affirming its position as one of the leading modern industrial-urban engines and most worthwhile investment destinations in Vietnam.