Hung Yen attracts 1.4 billion USD in foreign direct investment in 2024
The northern province of Hung Yen attracted 68 new foreign direct investment (FDI) projects with total registered capital of nearly 1.4 billion USD in 2024, a local official announced on January 3.
Director of Hung Yen province's Statistics Office Dao Trong Tuyen speaks at the press meeting on January 3. (Photo: VNA)
Hung Yen (VNA)ꦉ – The northern province of Hung Yen attracted 68 new foreign direct investment (FDI) projects with total registered capital of nearly 1.4 billion USD in 2024, a local official announced on January 3.
Speaking at a press meeting on January 3, Director of the provincial Statistics Office Dao Trong Tuyen said that currently, the province is home to 613 FDI projects with combined registered capital of nearly 8.5 billion USD.
Countries with the largest numbers of projects and amounts of investment include Japan, with 178 projects and registered capital of over 3.8 billion USD, accounting for nearly 46%; the Republic of Korea with 159 projects and over 1.4 billion USD; and China, with 173 projects and over 1.3 billion USD.
In 2024, the province's budget revenue reached over 40 trillion VND (over 1.57 billion USD), up nearly 25% year-on-year, and exceeding the annual plan by 23%.
Notably, domestic revenue reached nearly 36 trillion VND, up nearly 25% year-on-year and 23% higher than the estimate; revenue from import-export activities was over 4.5 trillion VND, up over 26% and exceeding the estimate by 26%.
Some domestic revenue sources also increased year-on-year, such as revenue from foreign-invested enterprises reaching 3.3 trillion VND, up over 19%; registration fees, 825 billion VND, up nearly 85%; personal income tax, over 1.9 trillion VND, up nearly 35%; and land-relating revenue, over 13 trillion VND, up over 91%.
Notably, the province’s industrial index of production in 2024 was estimated to increase by 10.84% compared to the previous year. Specifically, the processing and manufacturing industry increased by nearly 10%; production and distribution of electricity, gas, hot water, and steam increased by nearly 11%; and water supply and waste management activities increased by over 31%.
Hung Yen province’s regional gross domestic product (GRDP) in 2024 increased by 7.7% within the planned target of 7.5-8%, ranking 27th out of 63 provinces and centrally-run cities nationwide.
In 2025, the province aims for an economic growth target of 8%; an industrial production index growth of 10%; industrial and construction production up by 11%; trade and service industry up by 3%; agriculture and aquaculture production up 5.5%; per capita income to reach 131.4 million VND; total social investment capital of 78.855 trillion VND; and export turnover of 8.5 billion USD.
Hung Yen also expects to collect 44.92 trillion VND for the state budget and reach an urbanisation rate of 48%./.
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