Hung Yen’s investment incentives open doors to international investors

Located at the centre of the Northern Key Economic Region, Hung Yen possesses not only a strategic location and favourable transport infrastructure but also a continuously innovating mindset in attracting investment focused on accompanying and serving businesses.

From preferential policies regarding taxes, land, and infrastructure to administrative reform, digital transformation, and human resource development, the province is step-by-step creating a transparent, competitive, and friendly investment environment. These efforts have contributed to turning Hung Yen into a destination for many foreign-invested corporations and enterprises, driving economic growth and sustainable industrial development.

Lien Ha Thai Industrial Zone (under Thai Binh Economic Zone) possesses a favourable geographical location, ready to attract international investors.

FDI attraction Driven by Incentives

In the context of increasingly fierce competition for foreign investment among localities, Hung Yen chooses a business-centric approach, focusing on perfecting its preferential policy system and improving service quality to enhance the attractiveness of its investment environment.

In addition to fully implementing the Government's preferential policies for investment projects in industrial zones, the province actively coordinates with industrial zone infrastructure developers to establish reasonable land and workshop rental rates. It also invests synchronously in electricity, water, wastewater treatment, internal transport systems, and support services to reduce input costs for businesses.

Mr. Pham Quang Ngoc, Member of the Party Central Committee, Secretary of the Provincial Party Committee, and delegates take a commemorative photo with the leaders of Thang Long II Industrial Zone.

According to Mr. Nguyen Duc Kien, Director of the Hung Yen Department of Agriculture and Rural Development, land is always the decisive factor for project implementation progress. Therefore, the province's functional agencies are focusing on removing bottlenecks in site clearance, completing land procedures, and shortening the time required for administrative tasks.

"The province's standpoint is to create the most favorable conditions for investors to access clean land funds, make planning information transparent, and simplify land procedures within the legal framework. When businesses implement projects smoothly, the locality gains more driving force for development," shared Mr. Nguyen Duc Kien.

Along with land policies, tax incentives continue to be a major plus in Hung Yen's investment attraction strategy.

Mr. Phan Hong Viet, Deputy Director of the Hung Yen Tax Department, stated that enterprises investing in industrial zones enjoy full tax incentives under current regulations. This includes corporate income tax incentives for projects in encouraged sectors, land rent exemptions or reductions depending on the project type, and many other support policies regulated by the central government.

According to Mr. Viet, the provincial tax sector is accelerating digital transformation, expanding electronic tax services, electronic tax refunds, and online tax filing and payment to reduce compliance costs, thereby creating a transparent and favorable business environment for both domestic and foreign enterprises.

From the perspective of industrial zone management, Mr. Hoang Văn Mai, Deputy Head of the Hung Yen Industrial Zones Management Board, stated that the Board always accompanies businesses right from the site survey and investment procedure completion stages through to the production process.

"We implement a coordination mechanism with departments and sectors to help businesses shorten document processing times, while regularly organizing dialogues to resolve arising difficulties. The goal is to build an open, professional, and long-term stable investment environment for investors," emphasized Mr. Mai.

Beyond financial incentives, Hung Yen aims to build a synchronous investment ecosystem where businesses are supported with technical infrastructure, logistics, and public administrative services, laying the foundation for long-term development.

Hung Nhan Industrial Cluster in Long Hung and Ngu Thien communes, Hung Yen province, has attracted many FDI investors.

Serving Investors and Businesses

Preferential policies only truly become effective when businesses experience them in practice. This is demonstrated by the positive feedback from many FDI enterprises operating in Hung Yen.

Mr. Liu Xian Feng, Director of Hongxi Technology Vietnam Co., Ltd., assessed Hung Yen as a locality with a stable investment environment and a favorable location connecting Hanoi, Hai Phong, and major logistics hubs. According to him, the local government always maintains a receptive spirit, regularly listening to and supporting businesses during project implementation as well as production and business operations.

"We highly appreciate the companionship of authorities at all levels in resolving administrative procedures, supporting businesses to overcome difficulties, and creating conditions for projects to be implemented on schedule. This is a crucial factor that gives businesses peace of mind to expand their investment in Hung Yen," shared Mr. Liu Xian Feng.

Mr. Liu Xian Feng, Director of Hongxi Technology Vietnam Co., Ltd. (Tien Hai Industrial Zone), answers an interview with the Business Forum.

Meanwhile, Mr. Park Wan Soo, Deputy General Director of Hyundai Aluminum Vina Joint Stock Company, believed that the province's administrative reforms and digital transformation have brought many conveniences to businesses. However, to further enhance competitiveness, the locality needs to continue perfecting its digital platforms toward integration and unification.

According to Mr. Park Wan Soo, businesses hope that the local government will continue to synchronize digital platforms, allowing enterprises to perform administrative procedures on a single, unified system to avoid having to declare information multiple times. In addition, expanding vocational training programs and increasing the supply of high-quality technical labor will better meet the development needs of the processing and manufacturing industries, which are growing strongly in the locality.

These recommendations from the business community serve as an important basis for Hung Yen to continue perfecting its investment environment toward a modern, transparent, and business-centric approach.

With the combination of a favorable geographical location, increasingly synchronous industrial infrastructure, attractive preferential policies, and a strong determination for administrative reform and digital transformation, Hung Yen is step-by-step affirming its position as a reliable destination for international investors. The province not only aims to attract high-quality FDI inflows but also lays the foundation for a sustainable investment environment where the government and businesses advance together for sustainable development.