More Effective Investment Flows into Industrial Parks

To become a modern industrial province and a driving force of the Red River Delta, Hai Duong is focusing on developing smart and sustainable industrial parks (IPs) which not only accelerate urbanization and create equal development among regions in the province but also help perfect social infrastructure and draw more investment capital.

Creating breakthroughs in investment attraction

To date, Hai Duong province has established 17 IPs covering 2,738 ha in total, including 12 IPs in operation, four IPs under construction and one about to start construction. The average occupancy rate is 62.06%.

As of the end of 2024, local IPs had attracted 440 investment projects, comprising 17 IP infrastructure investment projects, including two foreign direct investment (FDI) projects and 15 domestic direct investment (DDI) projects, and 423 secondary investment projects (331 FDI and 92 DDI). Among these 423 secondary projects, approximately 300 are already in production, representing nearly 71% of all tenants, while the remaining projects are in the process of completing procedures to begin factory construction.

Operational projects have employed over 100,000 local and immigrant workers with an average monthly individual income of over VND7-9 million, generated industrial production value and increased State budget revenue. Specially, FDI projects in IPs have attracted and leveraged DDI projects to access advanced production technology and modern management skills, thus contributing significantly to training high-quality human resources and forming a key factor for economic restructuring.

Ms. Nguyen Thi Thuy Hang, Deputy Director of the Hai Duong Industrial Parks Authority, said: To achieve this, the authority actively reformed administrative processes and facilitated business operations for investors. It worked closely with relevant agencies and localities to expedite site clearance and promptly hand over land to investors in six IPs: An Phat 1, expanded Phuc Dien, Gia Loc, expanded Tan Truong, Kim Thanh, and expanded Dai An - Phase 2. Additionally, site clearance is underway for the 149-ha Luong Dien-Ngoc Lien IP to create ample space for investment projects. Meanwhile, the 150-ha Binh Giang Industrial Park, having obtained detailed construction planning, is in the process of securing investment permits as per regulations.

Expanded Dai An Industrial Park, Hai Duong province

Notably, to bolster investment promotion, the authority regularly attended conferences and seminars on investment promotion organized by central agencies; received business delegations from Taiwan (China) and South Korea; and updated and edited documents on local IPs in five languages (Vietnamese, English, Japanese, Korean and Chinese).

Contributing to the realization of industrialization goals

According to the Hai Duong Provincial Planning for the 2021-2030 period, with a vision to 2050, approved in Decision 1639/QD-TTg dated December 19, 2023, Hai Duong will have 32 IPs with a total area of 5,661 ha by 2030. According to the planning, it will be a modern industrial province, a dynamic industrial center of the Red River Delta and a big economy in the country by 2030.

Hai Duong defines IP development as a strategic approach to industrial development in particular and socioeconomic development in general in line with its potential advantages. The province is actively speeding up IP planning and investment progress (including expanded IP projects) stated in the provincial planning. In addition to enticing large corporations and strategic investors, the locality is synchronously carrying out business development support solutions, especially domestic companies, to create a supporting industrial ecosystem.

Chairman of Hai Duong People's Committee Le Ngoc Chau inspects industrial park infrastructure projects in the province, October 2024

To draw green investment, Hai Duong aims to develop IPs, both for economic growth and to advance towards sustainable development. Currently, 11 out of 12 IPs have invested in synchronous infrastructure systems, including traffic infrastructure, surface water and wastewater collection facilities, power grid, water supply networks and telecommunications systems to ensure synchronous connectivity.

The Industrial Parks Authority will continue to actively contact international trade investment agencies and large investors to call for cooperation in investment attraction; seek and target high-tech projects; select investors with environmentally friendly, advanced, and less labor-intensive technologies; and urge and guide tenants to comply with labor laws and grassroots democracy regulations.

The authority will accelerate administrative reform and facilitate investors to carry out their projects; promptly advise the Provincial Party Committee and the Provincial People's Committee to remove difficulties for IP construction and operation investors as well as secondary investors; boost information technology application in operations, management, day-to-day affairs and administrative procedure settlement; and effectively apply the single-window mechanism.

In 2025, the authority will strive to draw US$300-500 million of FDI funding (US$350 million from 40 new projects and US$100 million from existing projects) and VND1,000 billion of DDI capital (VND700 billion from 10 new projects and VND300 billion from five existing projects.

“The authority will endeavor to achieve all targets under the resolution of the 17th Hai Duong Provincial Party Congress: Hai Duong will be a modern-targeted industrial province by 2025 and a modern industrial province by 2030 to provide a foundation for it to soon become a centrally run city,” she emphasized.

By Ha Thanh - Quang Hu, Vietnam Business Forum