Hung Yen to Establish High-Tech Park to Boost Northern Economic Hub

Hung Yen province in central Vietnam is advancing plans to establish a new high-tech park, aiming to bolster its position as a hub within the Northern Key Economic Region. According to Nguyen Manh Quyen, Chairman of the Hung Yen Provincial People’s Committee, the proposed park is slated to occupy approximately 496.1 hectares across Hoan Long and Viet Yen communes. A key objective of this initiative is to attract high-quality talent and innovation resources from the capital, Hanoi. This is expected to strengthen production and logistics links not only for Hung Yen but also for the broader Northern Key Economic Region, which includes Bac Ninh, Hai Phong, Quang Ninh, Phu Tho, and Ninh Binh. Hung Yen province has demonstrated significant success in attracting investment in recent years. In the first half of this year, it secured 179 new investment projects, indicating the province's appeal to domestic and international investors. Furthermore, Hung Yen province is actively pursuing expanded international investment cooperation. It specifically seeks to broaden investment collaboration with Japanese partners and has received proposals for investment and project support from a Belgian fund. These developments suggest that Hung Yen province could play a crucial role in Vietnam's accelerated economic growth. Under its one-party system, the Vietnamese government strategically promotes the development of specific industries and attracts foreign investment through the establishment of economic zones and high-tech parks. Hung Yen's high-tech park plan is thus positioned as part of this national development strategy. In its relationship with China, Vietnam is experiencing increased investment as companies seek to diversify supply chains, and industrial parks like the one in Hung Yen are anticipated to serve as crucial receiving hubs.