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Vietnam’s Hung Yen province sees strong FDI growth in 2024

In 2024, Hung Yen province recorded 14 new foreign direct investment (FDI) projects with a total capital of US$1.60 billion, according to data from Vietnam’s Ministry of Planning and Investment. This represents a significant increase of 55.92 percent over 2023, when the province recorded US$1.02 billion in newly registered capital.

Of note, foreign direct investment in Hung Yen Province, Vietnam, has grown significantly in recent years, driven by its strategic location near Hanoi, well-developed infrastructure, and pro-investment policies. Located in the northern key economic region, Hung Yen has become an attractive destination for both domestic and foreign investors, particularly in sectors such as manufacturing, electronics, textiles, and logistics. Prominent investors include companies from Japan, South Korea, Taiwan, and Singapore, with notable projects in industrial parks like Thang Long II and Pho Noi A.

The province’s focus on developing industrial zones and improving transport infrastructure, including highways and proximity to major seaports and airports, has further enhanced its appeal. In addition to traditional manufacturing, there is growing interest in high-tech industries and sustainable development projects. With streamlined administrative procedures and incentives for foreign investors, Hung Yen continues to attract significant FDI, playing a key role in the economic development of northern Vietnam and contributing to the country’s broader industrialisation efforts.

See also: How to Start a Business in Vietnam

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