A new “magnet” for FDI in northern Vietnam
Recently, Hung Yen’s FDI landscape has become more dynamic, with an increasing number of multinational corporations choosing the province as their investment destination.
Among the prominent companies investing in Hung Yen is The Trump Organization (USA), owned by the family of U.S. President Donald Trump. In mid-May 2025, The Trump Organization and Hung Yen Hospitality, a subsidiary of Kinh Bac City Development Holding Corporation (KBC), broke ground on the Trump International Hung Yen project in Khoai Chau District, with total investment exceeding USD 1.5 billion. This will be the first golf course, villa, and resort project under the Trump brand in Vietnam.
Experts believe that The Trump Organization’s decision to invest in Hung Yen not only enhances the province’s profile on the international investment map but also provides a significant boost to its economic growth and local economic restructuring.
In addition to The Trump Organization, numerous other multinational corporations, such as Hyundai, Canon, Toto, Inax, Dorco, and Sumitomo, have established manufacturing plants in Hung Yen, attracting the interest of other businesses from the Netherlands, Australia, and Japan. These companies are flocking to Hung Yen to explore investment and business collaboration opportunities.
As a result, according to the Foreign Investment Agency, Hung Yen currently hosts 934 FDI projects, with total registered capital exceeding USD 15.85 billion, placing the province among the top 10 FDI recipients nationwide. In the first seven months of this year alone, Hung Yen attracted 91 new FDI projects, with a combined investment of over USD 1.33 billion, marking a 36% increase compared to the same period last year. This growth has propelled Hung Yen to 6th place nationwide in terms of foreign investment attraction.
Factors that make Hung Yen province a bright spot for FDI
Experts point to several factors that have helped make Hung Yen one of the top “magnets” for FDI in northern Vietnam. First and foremost, the province has a relatively well-developed industrial and service infrastructure, and is strategically located within the Hanoi-Hai Phong-Quang Ninh Economic Triangle. Particularly after merging with Thai Binh Province, the new Hung Yen has further reinforced its role as an industrial hub, boasting a developed transportation infrastructure that includes highways, coastal roads, and key rail lines, all of which help businesses reduce transportation time and logistics costs.
In addition to its strategic location, foreign investors highly value Hung Yen’s abundant and stable labor force. With a population of over 3 million, the province boasts a young, well-trained workforce ready to meet the needs of modern industries.
Moreover, Hung Yen is an investor-friendly province with favorable FDI policies. The local government has proactively reformed administrative procedures, cutting processing times and business costs by at least 30%, while providing continuous support to businesses throughout their project lifecycles. In 2024, Hung Yen’s Provincial Competitiveness Index (PCI) ranked in the top 10 nationwide for the first time.
During a meeting with Mr. Remon Vos, CEO of CTP – a leading European corporation in industrial real estate development and logistics based in the Netherlands – in August, Nguyen Le Huy, Vice Chairman of the Hung Yen Provincial People’s Committee, emphasized the province’s strategic location and strong connectivity to Hanoi and the northern delta, offering significant advantages for the development of industry and services. In particular, the ongoing development of highways and coastal roads is expected to further enhance the province’s appeal to investors.
He also pledged to create a transparent and investor-friendly environment for international businesses looking to invest in Hung Yen.
Currently, Hung Yen is focusing on the development of modern industrial parks, industrial clusters, and free economic zones, particularly those linked to high-tech industries, clean industries, supporting industries, and logistics services. Notably, the province is studying the feasibility of establishing the Hung Yen Free Economic Zone based on the current Thai Binh Economic Zone. If approved, the Hung Yen Free Economic Zone is expected to become one of the most dynamic and investor-friendly zones in Vietnam, particularly for foreign investors.
Alongside its FDI attraction efforts, Hung Yen is also focused on sustainable development, prioritizing environmental protection, building green industrial parks, improving residents’ quality of life, and positioning itself to become a modern industrial province with the largest economic scale in Vietnam by 2030.
With robust progress in attracting FDI, the emergence of billion-dollar projects, and an increasingly improved investment environment, Hung Yen is solidifying its position as a leading destination for foreign investment in the country. In the near future, once the Hung Yen Free Economic Zone is officially established and infrastructure continues to improve, the province is set to become a modern industrial and service hub in Vietnam, driving new development momentum for the entire Red River Delta region.
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