The proposed 496.1-hectare high-tech park in Hưng Yên is expected to attract talent and innovation from Hà Nội while strengthening production and logistics links across the Northern Key Economic Region.
The investment comes as Việt Nam continues to attract global manufacturers and increase its role in international trade, supported by strong exports, broad free trade agreements and rising foreign direct investment.
A delegation from the Ministry of Industry and Trade and Hưng Yên Province visited IFEZ in Incheon on July 14 to exchange experience on economic zone development.
Located in Yên Mỹ and Việt Tiến communes, the project covers 296 hectares, including 235 hectares in the first phase, with total investment capital of nearly VNĐ2.82 trillion (approximately US$108 million).
Rather than relying heavily on tax incentives, the model emphasises improving the overall investment environment, including transparency, efficiency and regulatory certainty, to enhance long-term competitiveness.
Those projects mark an important step toward improving regional connectivity and promoting socio-economic development in both the locality and neighbouring regions.
Hưng Yên is pushing the formation of a free economic zone (FEZ) with a strategic vision to make it one of the most dynamic, open and investor-friendly economic zones in Southeast Asia.
With a total investment of VNĐ429 billion (nearly US$16.5 million), GO! Hưng Yên spans 16,000 square metres and is the 43rd shopping centre operated by Central Retail Vietnam nationwide.
This high-profile project is set to boost economic growth, enhance tourism in the Red River Delta and become a landmark symbol of the Việt Nam-US strategic partnership.