Northern Vietnam's key economic region accelerates its growth.

To achieve a growth target of over 8% in 2025 and double-digit growth in the 2026-2030 period, localities in the Northern key economic region are overcoming difficulties and striving to surpass the set targets, creating momentum to realize the goals in the following years.

Lesson 1: Affirming its position as a vibrant economic center

Continuously improving the investment and business environment, mobilizing diverse and effective sources of development capital, focusing on infrastructure investment to enhance competitiveness, and shifting the economic structure in a positive direction... are some of the solutions that localities in the Northern key economic region are focusing on implementing to promote economic growth.

In the first quarter of 2025, three provinces and cities in the Northern key economic region – Hai Phong, Quang Ninh, and Hai Duong – achieved economic growth rates of 10% or higher. The remaining four localities – Bac Ninh, Hung Yen, Vinh Phuc, and Hanoi – achieved growth rates ranging from 7.35% to 9.05%, all exceeding their projected growth targets and contributing to the country's overall GDP growth of 6.93%. This achievement is thanks to the provinces and cities proactively designing and implementing growth scenarios, fulfilling their commitments through decisive and concrete actions.

A bright spot attracting investment.

From the beginning of 2025, Vinh Phuc province has been determined to implement solutions aimed at achieving an economic growth rate (GRDP) of 10 to 11%. Among many solutions, the provincial leadership prioritizes working with strategic investors to attract large-scale projects, high-tech projects; services, logistics, and the development of industrial park infrastructure; and industries such as electronics, telecommunications, software, and artificial intelligence.

Recently, with the active support of the province, CNCTech Group and UTI Vina Vinh Phuc Company (South Korea) signed a cooperation agreement to implement an electronics manufacturing investment project with a total investment of 105 million USD.

CNCTech Group is also collaborating with Signetics Corporation (Korea) to build a semiconductor-related product manufacturing plant in Ba Thien I Industrial Park, with a total investment of over 100 million USD. In the first quarter of 2025, revenue from electronic component manufacturing services in Vinh Phuc province is estimated to reach 57,500 billion VND, an increase of 12.27% compared to the same period in 2024.

Chairman of the Provincial People's Committee Tran Duy Dong expressed his hope that Vinh Phuc would make good use of its geographical advantages and human resources to accelerate the development of high-tech industries, making Vinh Phuc a leading electronics industry center in the country.

To achieve a growth target of 8% or more, creating momentum for double-digit growth in the 2026-2030 period, Hanoi City and Bac Ninh Province have implemented a "green lane" mechanism in handling procedures and documents in areas such as investment, import-export and logistics, trade development; financial support and consumer stimulus; innovation, digital transformation, smart infrastructure, social housing, etc.

The processing time for applications in these areas has been shortened by at least 60% compared to current regulations. In particular, key projects are prioritized for processing within 24 hours of receiving the application.

Accordingly, localities attracted very high levels of FDI in the first quarter: Hanoi attracted $1,415 million, an increase of 49.5% compared to the same period in 2024; Bac Ninh granted new licenses and adjusted capital increases totaling over $1.479 billion for FDI projects (1.8 times higher); the total registered capital of newly established businesses increased 2.6 times.

Notably, investment flows in Bac Ninh are shifting positively, with an increasing number of domestic businesses choosing Bac Ninh as their destination. At the second Investment Certificate Awarding Conference held on March 31, 2025, for the first time, the investment capital of newly approved projects by domestic businesses in Bac Ninh province equaled that of FDI projects, with many large investors providing products in the fields of artificial intelligence, green energy vehicles, and aerospace, etc.

In the first quarter of 2025, Hai Duong province also emerged as a bright spot in attracting domestic and foreign investment. Specifically, the total registered foreign investment reached US$138 million, an increase of 85.6% compared to the same period in 2024, while the total registered domestic investment exceeded VND 12,000 billion, an increase of 137%. Many industrial parks, such as Phuc Dien (expanded), attracted 9 domestic secondary investors with a total capital of over VND 4,142 billion, exceeding the investment attraction plan for the whole year of 2025.

Hung Yen province has recently focused its resources on investing in infrastructure for industrial parks to attract investors. With 12 industrial parks covering over 3,123 hectares, of which 10 (2,773 hectares) are already operational, the province has received 657 domestic and foreign investment projects with a total registered capital of over 46,000 billion VND and more than 7.1 billion USD.

The province aims to have 5 more industrial parks complete their investment approval dossiers this year; have at least 150 hectares invested in the construction of technical infrastructure; and receive investment projects with a total registered and adjusted investment capital of 1 billion USD or more. Within the industrial parks, an additional 40 new investment projects will commence production and business operations; and the implemented capital of the industrial parks and investment projects will reach at least 21,000 billion VND.

According to Vu Quoc Nghi, Head of the Management Board of Industrial Zones in Hung Yen province: The Board proactively implements an internal process to handle administrative procedures for issuing Investment Registration Certificates within 48 hours for projects not requiring investment policy decisions, creating favorable conditions for investors to quickly complete legal procedures to implement their projects.

Investing in inter-regional transportation infrastructure.

Half of the 10 key projects prioritized by Hanoi under the "green lane" mechanism to boost growth are strategic transportation projects connecting Hanoi's central urban area with the suburbs. Hanoi is preparing to begin construction of the Tu Lien Bridge in mid-May, the Tran Hung Dao Bridge in August, and the Ngoc Hoi Bridge connecting Hanoi with Hung Yen province on September 2nd; and to begin construction of the Van Cao-Hoa Lac urban railway line (Line 5) in October...

Meanwhile, the national key project, the Ring Road 4 - Capital Region, is being implemented vigorously. Currently, the construction package under Component Project 2.1 - Construction of parallel roads (urban roads) has been simultaneously deployed by contractors on 32 construction fronts, striving for completion by the end of 2025.

In recent years, Quang Ninh province has proactively invested in a 40km riverside road connecting the Ha Long-Hai Phong expressway with Dong Trieu city, with a total investment of nearly 10,000 billion VND, connecting important urban areas in the western economic corridor of the province.

The province, in coordination with Hai Phong city, has invested in the construction of the Ben Rung and Lai Xuan bridges; and in provincial roads connecting Ha Long city with Lang Son and Bac Giang provinces, opening up opportunities for inter-regional and inter-provincial socio-economic and tourism development. To date, Quang Ninh, Hai Phong, Hai Duong, and Hung Yen have signed an Agreement on economic cooperation to connect the eastern expressway axis based on the Hanoi-Mong Cai expressway, connecting a series of industrial zones and urban areas... linking the three international airports of Noi Bai, Cat Bi, and Van Don and the system of international seaports, creating a dynamic development region that attracts foreign investors.

In 2025, Hai Duong prioritizes investment in infrastructure, especially inter-regional transportation infrastructure, creating a strong impetus for socio-economic development. Mr. Bui Xuan Hai, Deputy Director of the Department of Construction, stated: In 2025, the province will allocate nearly 8,500 billion VND from its budget for 25 ongoing projects and 10 new projects, while also supporting district-level authorities in implementing several key transportation projects connecting with Hai Phong, Quang Ninh, and Hung Yen. To date, several key projects have been largely completed.

In addition, the province has mobilized approximately 750 billion VND from socialized capital to implement projects such as: the interchange connecting Provincial Road 390 (Thanh Ha district) with the Hanoi-Hai Phong expressway, expected to be completed in 2025; the construction of Dai An bridge over the Kim Son river, connecting Gia Loc and Cam Giang districts, with a budget of 250 billion VND; and the North-South arterial road section through Kim Thanh Industrial Park, with a budget of 150 billion VND. The synchronized and modern transportation infrastructure creates favorable conditions for localities in the region to develop socio-economic activities and promotes the shift in economic structure towards industrialization and modernization.

Source: https://nhandan.vn/vung-kinh-te-trong-diem-bac-bo-tang-toc-post874520.html