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

Based on the foundation of the Thai Binh Economic Zone

In 2017, the Prime Minister's decision to establish the Thai Binh Economic Zone, covering a total area of 30,583 hectares, opened up a new direction for the local economy. With 25 industrial zones, a 500-hectare seaport, an 853-hectare power plant, and a coastal urban, tourism, and service system, this economic zone quickly became a dynamic region connecting modern industry, trade, and services.

Between 2021 and 2025 alone, Thai Binh established four new industrial parks, expanding their area by over 1,427 hectares, a 3.4-fold increase compared to the previous period. Among these, Lien Ha Thai Industrial Park stands out with its rapid, integrated, and large-scale investment, along with Hai Long, VSIP, and Hung Phu Industrial Parks, forming a chain of modern industrial infrastructure that significantly contributes to attracting FDI.

Deputy Prime Minister Ho Duc Phoc gives instructions at a 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 area of over 487 km² is divided into many functional zones such as defense, seaports, industry, urban areas, aquaculture, and land reclamation 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 linkages and a national vision.

FEZ Hung Yen – A multi-sector economic model, a breakthrough mechanism.

The orientation for the Hung Yen FEZ (Federal Economic Zone) is to form a multi-sectoral, integrated economic model linking industry, trade, finance, technology, energy, and logistics, while applying unique and superior policy mechanisms. During a meeting with Deputy Prime Minister Ho Duc Phoc, the Chairman of the Provincial People's Committee, Nguyen Khac Than, proposed that the Government allow Hung Yen to build the FEZ on the foundation of the Thai Binh Economic Zone, along with investing in the Diem Dien port capable of accommodating ships with a tonnage of 200,000 tons.

This model aims to become a hub for global technology, finance, and logistics corporations, a testing ground for new management models, and a place for deep connections with international supply chains. Located in a key area, with a well-planned investment strategy, Lien Ha Thai Industrial Park has attracted over 40 projects with a total investment of nearly US$1.6 billion, creating jobs for thousands of workers and promoting economic restructuring. The establishment and operation of the Hung Yen FEZ, along with Diem Dien Port and Ba Lat Liquid Cargo Port, will open up significant opportunities for the region to achieve strong growth.

Lien Ha Thai Industrial Park (Thai Binh Economic Zone) is considered a bright spot with its rapid, synchronized, and large-scale investment.

In Dong Tien Hai commune, the Hai Long, Tra Xuyen, and Hoang Long industrial parks are being developed simultaneously. The Hai Long industrial park, invested in by Bao Minh Industrial Park Infrastructure Investment Joint Stock Company, has cleared 130 out of 296 hectares in phase 2. At the end of September, the Hai Long industrial park handed over the land to Glitter Vietnam Festival Products Co., Ltd. for a $75 million project. It is projected that this industrial park will attract $600 million in investment by 2025, with infrastructure completed and occupancy largely achieved by 2026. Besides the advantageous riverside location and proximity to the coastal road, these industrial parks also benefit from superior tax incentives, further enhancing their attractiveness with the establishment of the FEZ (Federal Economic Zone).

According to the Hung Yen Department of Finance, the province is urgently finalizing the dossier to submit to the Government for approval of the establishment of the Hung Yen FEZ (Federal Economic Zone). This will be a special policy testing space, a hub for high-tech industries, clean energy, logistics services, eco-cities, and innovation centers.

With a long-term vision, the Hung Yen FEZ is not just a pilot model but also a symbol of innovative thinking and aspiration for development. Once operational, the FEZ will create a strong impetus, helping Hung Yen attract international investment, expand its industrial development space, and simultaneously enhance its competitiveness and the quality of its human resources.

By 2035, Hung Yen strives to become a modern industrial province, meeting the criteria of a Class I urban area, playing a crucial growth role in the Red River Delta. The Hung Yen Free Economic Zone is not only a step forward economically, but also embodies the aspiration to reach out to the world, a journey of integration, innovation, and sustainable development alongside the country in the new era.

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