Economic situations

In recent years, with the "red carpet" investor policy, Hung Yen has attracted a large amount of domestic and foreign investment capital, a significant drive for economic development and employment. 

In 2012, the province licensed 71 new projects, including 52 domestic investment projects and 19 foreign investment projects, with a total registered capital of VND2,611 billion (US$130 million) and US$186.4 million, bringing the investment project total to 1,021 projects (794 domestic investment projects and 227 foreign investment projects) with a total registered capital of VND55.91 trillion and US$2.156 billion. They employ over 100,500 workers.

As of June 2012, the province had 4,500 enterprises, 2,384 farms, 180 non-agricultural cooperatives, and 52,532 individual business households relating to foreign investment fields. If each enterprise, farm, cooperative or business household had one leader, then the province had up to 59,596 entrepreneurs (of over 4 million entrepreneurs in the country) at that time.

They are the major force for building and developing production and business models, representing new production forces, deciding the liberation of productive forces, accelerating the cause of industrialisation, modernisation and international integration and generating new value chains for society. They are the force that changes the class structure and maintains social and political stability. They are one of backbone forces in comprehensive strategy on growth, poverty reduction and social security.

With the Politburo’s first-ever issuance of a document concerning the construction and promotion the roles of entrepreneur force and business community, the Party has confirmed the roles of enterprises and entrepreneurs in the economy and the political system, unified the thinking of the roles of entrepreneurs, and encouraged the business community in Vietnam to contribute more to the country’s social and economic development. The introduction of Resolution 09/NQ-TW of the Politburo has met the requirements of the economy and reflects the aspirations of entrepreneurs.