After more than two years of implementing the Eastern Expressway Economic Linkage Agreement (VEHEC), the members of the association have gradually affirmed their position in the inter-regional economic chain, becoming an important driving force for the Northern region. Anticipating new development trends, VEHEC continues to promote smart manufacturing collaborations to become a driving force for modernization and economic growth.
According to the Vietnam Chamber of Commerce and Industry (VCCI), VEHEC is a crucial economic driver in the North, with a high regional GRDP growth rate ranging from 9-12% annually, higher than the average GRDP of all 63 provinces and cities nationwide. It is also a major FDI attraction center in the country, with Hai Phong attracting $3.5 billion and Quang Ninh over $3.1 billion in 2023, making them the leading provinces in attracting FDI nationwide. This is the first sub-regional connectivity model in Vietnam, aiming to realize the Party and State's policy of promoting regional linkages. Simultaneously, it optimizes resources, exploits the strengths of each province, thereby creating new development spaces, a favorable business environment, high economic growth, a thriving business community, and maximizing the economic potential of the region.
Currently, the total number of businesses operating in the four VEHEC localities, including Quang Ninh, Hai Phong, Hai Duong, and Hung Yen, is over 52,000, accounting for 5.7% of the total number of businesses operating nationwide. Based on creating linkages between businesses within VEHEC, initial agreements on connection and cooperation have been formed, focusing on trade and investment promotion; transportation and logistics; production supply chain development; tourism and service development; high-tech agriculture and agricultural product processing; digital transformation and digital connectivity... VEHEC prioritizes specific activities that yield practical results, creating a dynamic economic development zone.
Over the past year, the linkages between VEHEC enterprises have made significant progress by leveraging local competitive advantages, such as: land and sea border crossings with China; the major international seaport of Hai Phong; and the abundant human resources in Hai Duong and Hung Yen... This has helped localities effectively exploit their advantages, overcome unfavorable barriers to development, strongly impact trade and goods transportation, contributing to reduced investment costs and increased profits.
Mr. Pham Van The, Chairman of the VEHEC Regional Business Council, stated: VEHEC has successfully organized the Industrial Park Forum to connect industrial park developers, investors, and the government in line with a green and sustainable future orientation. This has been accompanied by close coordination in training programs, joint communication activities, and many other collaborative development activities. Recently in Ha Long City, the association continued to organize a conference to promote smart manufacturing supply chains. This is an important guide for businesses to access new production technologies worldwide, and to develop new strategies that are more suitable to the current context.
Amidst the rapid development of science and technology and Industry 4.0, the global economy is undergoing significant changes, and smart manufacturing has become a crucial driver for modernization and economic growth. Vietnam, a new manufacturing link in Asia, is increasingly playing a vital role in the global smart manufacturing supply chain as the wave of investment shifting to Asia, including Vietnam, intensifies. Vietnam already has numerous smart manufacturing projects from Europe, Japan, South Korea, Taiwan, Singapore, and China. Currently, potential investors in the electronics and semiconductor manufacturing sector, such as NIVIDA from the US, ASML from the Netherlands, Amkor, and Seojin from South Korea, continue to seek investment opportunities in Vietnam. To seize opportunities for collaboration with major technology companies and keep pace with new trends, VEHEC members have immediately implemented smart manufacturing and collaboration solutions, a step in the right direction.
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