Lesson 1: Affirming the position of a vibrant economic center

Continuously improving the business investment environment, mobilizing diverse and effective use of development capital, focusing on infrastructure investment to enhance competitiveness, shifting the economic structure in a positive direction, etc. are 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 Zone: Hai Phong, Quang Ninh and Hai Duong had economic growth rates of 10% or more. The remaining four localities, including Bac Ninh, Hung Yen, Vinh Phuc and Hanoi, achieved growth rates of 7.35% to 9.05%, all exceeding the growth target according to the scenario, contributing to the country's GDP growth of 6.93%. This result was achieved thanks to the provinces and cities proactively designing and implementing growth scenarios, fulfilling their commitments with drastic and specific actions.

Bright spot attracting investment

From the beginning of 2025, Vinh Phuc province has been determined to implement solutions with the target of economic growth (GRDP) from 10 to 11%. Among many solutions, the provincial leaders prioritize working with strategic investors to attract large projects, high-tech projects; services, logistics, construction and development of industrial park infrastructure; electronics, telecommunications, software, artificial intelligence industries, etc.

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

CNCTech Group also cooperated with Signetics Joint Stock Company (Korea) to build a factory to produce semiconductor-related products in Ba Thien I Industrial Park, with a total investment of more than 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% over the same period in 2024.

Chairman of the Provincial People's Committee Tran Duy Dong hopes that Vinh Phuc will make good use of its geographical location and human resources to accelerate the development of high-tech industry, making Vinh Phuc the leading electronics industrial center in the country.

To achieve the 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 the "green lane" mechanism in handling procedures and records in areas such as investment, import-export-logistics, trade development; financial support and consumer stimulus; innovation, digital transformation, smart infrastructure, social housing, etc.

The processing time for these fields is shortened by at least 60% compared to current regulations. In particular, key projects are given priority to be processed within 24 hours from the time of receiving the application.

Accordingly, localities attracting FDI capital in the first quarter were very high: Hanoi attracted 1,415 million USD, an increase of 49.5% over the same period in 2024; Bac Ninh newly granted and adjusted capital increase of more than 1,479 billion USD for FDI projects (1.8 times higher); total registered capital of newly established enterprises was 2.6 times higher.

Notably, the investment capital flow in Bac Ninh is shifting positively as more and more domestic enterprises choose 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 granted projects of domestic enterprises in Bac Ninh province was equal to the investment capital of FDI projects, with many large investors providing products in the fields of artificial intelligence, green energy cars and aerospace, etc.

In the first quarter of 2025, Hai Duong province also emerged as a bright spot in attracting domestic and foreign investment. Of which, the total registered foreign investment capital reached 138 million USD, an increase of 85.6% over the same period in 2024, the total registered domestic investment capital was more than 12,000 billion VND, an increase of 137%. Many industrial parks such as Phuc Dien (expansion) have attracted 9 domestic secondary investors with a total capital of more than 4,142 billion VND, exceeding the investment attraction plan for the whole year of 2025.

Hung Yen province has recently focused its resources on investing in industrial park infrastructure to attract investors. With 12 industrial parks, covering an area of over 3,123 hectares, of which 10 industrial parks (2,773 hectares) have been put into operation, receiving 657 domestic and foreign investment projects with a total registered capital of over VND46,000 billion and over USD7.1 billion.

This year, the province strives to have 5 more industrial parks complete investment policy documents; have at least 150 hectares invested in technical infrastructure construction; receive investment projects with a total newly registered and adjusted investment capital of 1 billion USD or more. In the industrial parks, there are 40 new investment projects coming into production and business; the realized capital of industrial parks and investment projects reaches at least 21,000 billion VND.

Head of the Management Board of Industrial Parks of Hung Yen Province, Vu Quoc Nghi, said: The Board proactively implements the Internal Process to resolve administrative procedures for granting Investment Registration Certificates within 48 hours for projects not subject to investment policy decisions, creating conditions for investors to promptly complete legal procedures to implement the project.

Investing in inter-regional transport infrastructure

Half of the 10 key projects that Hanoi has prioritized under the “green lane” mechanism to promote growth are strategic transport projects connecting the central urban area of Hanoi with the suburban areas. Hanoi is preparing conditions to start construction of Tu Lien Bridge in mid-May, Tran Hung Dao Bridge in August, and Ngoc Hoi Bridge connecting Hanoi with Hung Yen Province on September 2; and urban railway line No. 5 Van Cao-Hoa Lac will start construction in October...

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

Quang Ninh province has recently proactively invested in a 40km riverside road connecting 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 cooperated with Hai Phong city to invest in the construction of Ben Rung and Lai Xuan bridges; invested in provincial roads connecting Ha Long city with Lang Son and Bac Giang provinces, opening up opportunities for socio-economic development and inter-regional and inter-provincial tourism. Up to now, Quang Ninh, Hai Phong, Hai Duong and Hung Yen have signed an agreement on economic connection cooperation on the eastern expressway axis based on the Hanoi-Mong Cai expressway axis, connecting a series of industrial parks, urban areas... connecting the three international airports of Noi Bai, Cat Bi, Van Don and the system of international seaports, creating a dynamic development area, attracting foreign investors.

In 2025, Hai Duong will prioritize investment resources in infrastructure, especially inter-regional transport infrastructure, creating a strong driving force for socio-economic development. Mr. Bui Xuan Hai, Deputy Director of the Department of Construction, said: In 2025, the province will allocate nearly VND 8,500 billion from the budget for 25 projects under construction and 10 newly started projects, while supporting the district level to implement a number of important key transport projects connecting with Hai Phong, Quang Ninh, and Hung Yen. To date, a number of key projects have been basically completed.

In addition, the province mobilized about 750 billion VND in socialized capital to implement the projects: Intersection connecting Provincial Road 390 (Thanh Ha district) with Hanoi-Hai Phong Expressway, expected to be completed in 2025; construction of Dai An bridge across Kim Son river, connecting Gia Loc and Cam Giang districts with a cost of 250 billion VND; North-South axis road section through Kim Thanh Industrial Park with a cost of 150 billion VND. Synchronous and modern traffic infrastructure creates favorable conditions for localities in the region to develop socio-economy, promoting economic restructuring towards industrialization and modernization.

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