Hung Yen: Building a Free Economic Zone on the foundation of Thai Binh Economic Zone

From the foundation of Thai Binh Economic Zone

In 2017, the Prime Minister's Decision on the establishment of Thai Binh Economic Zone with a total area of 30,583 hectares opened a new direction for local economic development. With 25 industrial zones, a 500-hectare seaport, an 853-hectare Power Center, and a system of urban, tourism, and coastal services, this economic zone quickly became a dynamic area connecting modern industry - trade - services.

In the period of 2021 - 2025 alone, Thai Binh has established 4 more industrial parks, expanding more than 1,427 hectares, 3.4 times higher than the previous period. In particular, Lien Ha Thai Industrial Park is considered a bright spot with fast, synchronous and large-scale investment speed, along with Hai Long, VSIP and Hung Phu Industrial Parks, forming a modern industrial infrastructure chain, contributing to strongly attracting FDI capital flows.

Deputy Prime Minister Ho Duc Phoc directed at the working session with Hung Yen province. Photo: Nguyen Quynh

According to the Thai Binh Provincial Planning for the period 2021-2030, with a vision to 2050, the sea space of more than 487 km² is divided into many functional areas such as defense, seaport, industry, urban, aquaculture and sea encroachment to create land for development. This is an important foundation for Hung Yen after the merger to inherit, expand and develop the Hung Yen Free Economic Zone model, with regional connectivity and national vision.

FEZ Hung Yen – Multi-sector economic model, breakthrough mechanism

The orientation of Hung Yen FEZ is to form a multi-sector, integrated economic model, linking industry - trade - finance - technology - energy - logistics, while applying unique and outstanding policy mechanisms. At the working session with Deputy Prime Minister Ho Duc Phoc, Chairman of the Provincial People's Committee Nguyen Khac Than proposed the Government to allow Hung Yen to build FEZ on the foundation of Thai Binh Economic Zone, along with investing in Diem Dien port that can accommodate ships with a capacity of 200,000 tons.

This model aims to become a convergence center of global technology, finance, and logistics corporations, a place to test and innovate new management models, and deeply connect with the international supply chain. Located in a key area, with a methodical attraction strategy, Lien Ha Thai Industrial Park has attracted more than 40 projects, with a total capital of nearly 1.6 billion USD, creating jobs for thousands of workers and promoting economic restructuring. FEZ Hung Yen was established and put into operation with Diem Dien port and Ba Lat liquid cargo port, which will open up great opportunities for this area to make a strong breakthrough.

Lien Ha Thai Industrial Park (Thai Binh Economic Zone) is considered a bright spot with fast, synchronous and large-scale investment speed.

In Dong Tien Hai commune, Hai Long, Tra Xuyen and Hoang Long industrial parks are being deployed synchronously. Hai Long industrial park invested by Bao Minh Industrial Park Infrastructure Investment Joint Stock Company has cleared 130/296 hectares of phase 2. At the end of September, Hai Long industrial park handed over the site to Glitter Vietnam Festival Products Co., Ltd. to implement a 75 million USD project. It is expected that in 2025, this industrial park will attract 600 million USD, complete infrastructure and basically be full in 2026. In addition to the advantage of riverside location, near the coastal road, industrial parks also enjoy outstanding tax incentives, helping to increase their attractiveness when FEZ is established.

According to the Hung Yen Department of Finance, the province is urgently completing documents to submit to the Government for approval of the policy of establishing Hung Yen FEZ. This will be a special policy testing space, a convergence of high-tech industry, clean energy, logistics services, ecological urban areas and innovation centers.

With a long-term vision, FEZ Hung Yen is not only a pilot model but also a symbol of innovative thinking and development aspirations. When put into operation, FEZ will create a strong "push", helping Hung Yen attract international investment, expand industrial development space, and at the same time improve competitiveness and human resource quality.

By 2035, Hung Yen strives to become a modern industrial province, meeting the criteria of a first-class urban area, playing an important growth role in the Red River Delta. Hung Yen Free Economic Zone is not only an economic step forward, but also the embodiment of the aspiration to reach out to the sea, the journey of integration, innovation and sustainable development with the country in the new era.

Source: https://baodautu.vn/hung-yen-xay-dung-khu-kinh-te-tu-do-tren-nen-tang-khu-kinh-te-thai-binh-d413358.html