Hung Yen ran investment and trade promotion campaign in Europe

Hung Yen, a northern province with 18 industrial zones spanning 9,500 ha, is strategically located near key transportation hubs: Hai Phong Port, Noi Bai International Airport, and Hanoi. Its prime location has made the province attractive to foreign investors.

Mr. Tran Quoc Van, Deputy Secretary of the Provincial Party Committee and Chairman of the People's Committee of Hung Yen, highlighted the province's potential and opportunities for foreign investment during an investment and trade promotion seminar in Germany on October 28, the Vietnam News Agency reported.

Currently, the locality hosts 2,200 investment projects, including nearly 600 FDI projects, primarily from Japan and South Korea. However, the province has seen limited European investment, with only six German companies investing a total of $16 million.

To attract more European businesses, particularly from Germany, Hung Yen organizes its first investment promotion mission to Germany and Europe. The province aims to leverage Germany's expertise in mechanical engineering and machine manufacturing, said Mr. Van.

Mr. Van assured potential investors of Hung Yen's commitment to supporting them, streamlining the investment process, and creating a favorable investment environment. He emphasized the province's significant economic growth, with annual tax revenue reaching VND40 trillion (approximately $1.58 billion) and an average per capita income of VND120 million (nearly $4,800) per year. Since 2020, the province has achieved an average annual growth rate of 10%.