Regional economic growth could be bolstered through Hung Yen's proposal for a Free Economic Zone.
Hung Yen Achieves Economic Growth Milestones in 2025
Hung Yen, a province in Vietnam, has made significant strides in its economic growth and development this year. As of August 11, the province's total state budget revenue approximated $2.46 billion, exceeding 115% of the annual target.
The regional GDP grew by 8.1% in the first half of 2025, and Hung Yen has proactively restructured its administrative system to improve efficiency. The province is focusing on attracting investment in clean and high-tech industries, agriculture, and agriculture-related mechanisms.
One of the key achievements in Hung Yen's economic growth strategy is the acceleration of industrial and trade growth. In the first seven months of 2025, the industrial production index rose 11.2%, and total retail sales of goods and consumer services amounted to $4.57 billion, up 7.7%. Export value reached $7.01 billion, a 19.8% increase over the same period in 2024, while imports totalled $5.37 billion, up 20.6%.
Hung Yen's export network spans over 100 countries and territories due to the implementation of new-generation free trade agreements. The province is prioritizing science and technology development and promoting digital transformation and administrative reform to support business operations.
In August 2025, Hung Yen started construction on three significant projects, including the Thai Binh General Hospital and major transport infrastructure aimed at improving connectivity and public services.
The creation of the Hung Yen Free Economic Zone (FEZ) is a flagship initiative to elevate the province's attractiveness to investors, especially foreign ones. The FEZ will leverage Hung Yen's strategic location in the Red River Delta to develop a modern production-service-logistics chain, expand export capacity, generate high-quality jobs, and enhance regional competitiveness.
As of mid-2025, Hung Yen hosts 934 projects with over $15.85 billion in registered capital and attracted 91 new FDI projects worth $1.33 billion in the first seven months, marking a 36% increase year-on-year.
Future plans emphasize continuing infrastructure upgrades, promoting high-tech agriculture, trade, logistics, urban development (including eco-cities and resorts), healthcare, and sustainable waste treatment facilities. The province aims to become a dynamic economic hub by addressing investment hurdles, expanding industrial parks, and fostering socio-economic breakthroughs in the region.
Hung Yen is enhancing transportation infrastructure, including roads, inland waterways, and seaports. The proposed Hung Yen FEZ aims to capitalize on regional advantages and foster long-term economic momentum, aligning with the Prime Minister's directives. Post-merger, Hung Yen has synergized its potential and advantages, creating new space and momentum for socioeconomic development.
[1] Source: Vietnam News Agency [2] Source: VietnamPlus [3] Source: Hung Yen People's Committee [5] Source: Vietnam Investment Review
Vietnamese authorities are eager to build a modern and dynamic economy in Hung Yen, with plans to develop the sports industry as part of its comprehensive growth strategy.
As Hung Yen strives to become a leading regional economic hub, the province has identified the emerging sports sector as an opportune avenue for attracting further investment and fostering sustainable development.
