To date, the province has 588 foreign-invested projects, with a total registered capital of over US$7.6 billion.

Chairman of the provincial people's committee Trần Quốc Văn said that one of the most important factors needed to build investment in the province is a focus on promoting administrative reform, creating an open environment for businesses.

Thăng Long II Industrial Park is located in Yên Mỹ and Mỹ Hào districts, Hưng Yên province. — VNA/VNS Photo

Starting earlier this year, the province has been implementing key tasks and solutions to improve the business environment and enhance provincial competitiveness, following its Plan No. 31/KH-UBND.

The right direction in building a good business environment has made Hưng Yên one of the most preferred destinations for foreign investors.

The province has attracted new and adjusted capital reaching $1.7 billion in the first nine months of this year, its highest result ever.

This has demonstrated the value of leaders' efforts in attracting investment to their locality.

Japan currently has the most projects and investment capital in Hưng Yên, with 147 projects and registered capital of $3.6 billion, accounting for 54 per cent of the total registered capital in the province.

Ranking at second place is China with 70 projects and registered capital of $957 million, accounting for 15 per cent of the total registered capital, followed by South Korea with 63 projects worth $650 million, accounting for 10 per cent of total registered capital.

In the provincial plan for the 2021-2030 period approved by the Prime Minister, Hưng Yên's main goal is to develop rapidly and sustainably by the end of the decade, becoming a modern industrial province with an economy and development level that puts it among the leading groups in the country. The province also aims to become a smart, green urban area, with a good living environment and a developed socio-economic infrastructure system.

Currently, 35 industrial parks with a combined area of ​​over 12,000 hectares are planned for development in the province.

The province plans to develop 30 new industrial parks with a total area of ​​9,100 hectares by 2030, as well as expand four industrial parks with a total area of ​​over 400 hectares.

Hưng Yên also plans to develop five new industrial parks with a total area of ​​nearly 2,500 hectares after 2030.